Cullen / Frost Bankers Inc. (CFR) 2003年年度报告「NYSE」.pdf

1、F O R T H E Y E A Rat year endLoans$4,590,746$4,518,913Securities2,971,4152,458,256Earning Assets8,132,4797,709,980Total Assets9,672,1149,536,050Deposits8,068,8577,628,143Long-Term Borrowings255,845271,257Shareholders Equity770,004703,7902 0 0 2selected financial ratiosReturn on Average Assets1.361.

2、40Return on Average Equity17.7817.96Net Interest Margin3.984.58per share dataIncome From Continuing Operations Basic$2.54$2.40Income From Continuing Operations Diluted2.482.33Net Income Basic2.542.29Net Income Diluted2.482.23Cash Dividends Per Share0.940.875Book Value14.8713.72F i n a n c i a l H i

3、g h l i g h t s2 0 0 32003net income$130,501$116,986%P A G E 2I am very pleased to report that 2003 was anotherrecord year for Cullen/Frost,as we worked harder andsmarter to grow this company and increase shareholdervalue.Annual earnings,which reached$130.5 millionup 11.6 percent from the previous y

4、earwere once againat an all time high,with diluted earnings per share at$2.48.Our return on assets of 1.36 percent and our returnon equity of 17.78 percent showed good profitability andcompared well to our peers.Its always good to see external appreciation of ourefforts,and that came from all three

5、major credit ratingsagenciesStandard&Poors,Moodys and Fitch Ratingswhich all increased our companys credit rating or ratingsoutlook this year.We were also pleased that the continuedgrowth of our companys market capitalization earned us a place in the S&P 600 Mid Cap Index,a move fromthe S&P 400 Smal

6、l Cap Index.What makes our accom-plishments even more noteworthy is that they wereachieved amid a decidedly challenging environment of continued low interest rates and a market in whichmodest business expansion resulted in soft commercialloan demand.We were able to overcome these challenges throughh