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Bank buyers and sellers should pay attention to the Fed's recent approval of Cullen/Frost's acquisition of WNB Bancshares. Cullen/Frost had to agree to improve its fair-lending and other functions, underscoring the importance of buyers who work well in resolving compliance and other problems with regulators.
May 21 -
Tighter margins held back BOK Financial in Tulsa, Okla., last quarter. The $28 billion-asset company reported a profit of $76.7 million, down 4% from the same period last year.
July 30 -
A recent oil and gas boom in Texas that has captivated banks' attention is also drawing the eye of regulators as they become concerned how far institutions will go to win loans and hire specialists within the energy industry.
May 16
Cullen/Frost Bankers in San Antonio, Texas,
The $26.5 billion-asset bank's profits were $66.5 million, or 10% higher than a year ago. Earnings per share of $1.02 beat an estimate of analysts polled by Bloomberg by eight cents.
Strong loan performance fueled the earnings increase. Net interest income increased 14%, to $198.9 million. The bank's loan portfolio expanded 9%, partially due
The net interest margin climbed 5 basis points, to 3.48%.
The bank raised its provision for problem loans by 38%, to $4.9 million. At the same time, net charge-offs declined 52%, to $1.8 million.
Higher investment fees also contributed to second-quarter profits, as noninterest income climbed 9%, to $79.2 million.
Operating expenses were up 9%, to $164 million, mainly because of occupancy and merger-related costs.