Jared [Last Name Unknown]'s questions to Cullen/Frost Bankers Inc (CFR) leadership • Q1 2025
Question
Jared [Last Name Unknown] asked about the expected deposit beta trajectory amid rate cuts, the outlook for full-year expenses and technology initiatives, and current commercial customer sentiment.
Answer
CFO Dan Geddes stated the cumulative deposit beta is 47% and is expected to hold as rates fall. He projected high single-digit expense growth for the remaining quarters. CEO Phillip Green added that while technology costs are high, major investments peaked in 2023 and there are no significant new initiatives planned. Green also noted that commercial clients are seeking clarity but are not panicking over tariffs, expressing confidence in their ability to manage costs.