- American City Business Journals•15 hours ago
San Antonio-based financial services company Cullen/Frost Bankers Inc. announced today that its second quarter earnings dropped to $69 million in 2016 — down from $71 million during the same time frame in 2015. Cullen/Frost (CFR) attempted to reduce the impact of low oil prices on its profit margin for the third quarter in a row, and trimmed back energy loans to roughly 13 percent of its portfolio, or $1.5 billion — but slicing away $255 million in the past six months from that sector wasn't enough to meet revenue projections. In second quarter 2015, Cullen/Frost had 15.8 percent of its total loan portfolio stemming from deals with companies in the energy sector, or $1.8 billion.
Cullen/Frost Bankers, Inc.NYSE
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