Cullen/Frost Bankers, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended Dec. 31, 2016. Cullen/Frost reported net income available to common shareholders for the fourth quarter of 2016 of $81.7 million, or $1.28 per diluted common share, compared to fourth quarter 2015 earnings of $56.2 million, or $0.90 per diluted common share. For the fourth quarter of 2016, returns on average assets and common equity were 1.09% and 11.03% respectively, compared to 0.78% and 8.07% for the same period in 2015. Net interest income was $201.6 million against $186.1 million reported last year. Income before income taxes was $92.2 million against $61.9 million reported last year. Book value per common share at end of the quarter was $45.03 against $44.30 reported a year ago.

The company also reported 2016 annual net income available to common shareholders of $296.2 million, an increase of 9.2% compared to 2015 earnings of $271.3 million. On a per-share basis, 2016 earnings were $4.70 per diluted common share, compared to $4.28 per diluted common share reported in 2015. For the year 2016, returns on average assets and common equity were 1.03% and 10.16% respectively, compared to 0.97% and 9.86% reported in 2015. Net interest income was $776.3 million against $736.6 million reported last year. Income before income taxes was $341.4 million against $319.8 million reported last year.

For the quarter, the company reported net charge-offs of $5.7 million against $8.5 million reported in the same period last year.