Frost Bank’s parent company once again blows past analysts’ earnings projections in 4Q

, the largest regional financial institution based in San Antonio, earned $189.5 million, or $2.91 a share, on $529.6 million in revenue in the three months ended Dec. 31. By comparison, Frost posted earnings of $99.4 million, or $1.54 a share, on $373.1 million in revenue.

For all of 2022, Frost generated earnings of $572.5 million, or $8.81 a share, on almost $1.8 billion in revenue. It earned $434.9 million, or $6.76 a share, on almost $1.5 billion in revenue in 2021. Analysts expected it to earn $8.70 a share in 2022. Frost’s high loan-to-deposit ratio should give it the flexibility to navigate a “tightening environment for deposit liquidity” while also continuing to benefit from interest rate hikes by the Federal Reserve,” BofA Securities analyst Ebrahim Poonawala said in a note to investors.

“This conservative approach to lending has allowed to deliver superior credit performance going back multiple economic cycles all the way back to the 1980s energy downturn,” the analyst said.Salary cuts aside, total compensation climbs for some executives at San Antonio’s Frost Bank

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Surge in Hiring by Small Business Complicates Fed’s Effort to Cool EconomyA surge in hiring by small business could run afoul of the Fed’s efforts to cool inflation Now these people want to blame the little guy as the top one % have made trillions in the past 3 years? Ha!! They don't want to talk about the surge in corporate and tech firings though, so weird.
Source: WSJ - 🏆 98. / 63 Read more »