Frost Bank

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Cullen/Frost Bankers
Traded as NYSECFR
Industry Finance and Insurance
Founded 1868
Headquarters San Antonio, Texas
United States
Key people
Dick Evans, Chairman & CEO
Phillip D. Green, Group Executive Vice President & CFO
Products Banking Investments Insurance
Revenue $1.01 billion US$ (FY 2013)
Increase $231.2 million
Number of employees
Slogan We're From Here
Frost Bank is headquartered in Downtown San Antonio.
Frost Bank branch in San Antonio on the city's Northwest Side.
The Frost Bank Tower is one of the tallest buildings in Austin, Texas.

Frost Bank is a Texas-chartered bank founded in 1868 and based in San Antonio, with 123 branches across the state. Frost is one of the largest Texas-based banks. The company offers a full range of commercial and consumer banking products, investment and brokerage services, insurance products and investment banking to customers throughout Texas.

Frost is a subsidiary of Cullen/Frost Bankers, Inc., a financial holding company, also based in San Antonio.[1]

Citing changes in the banking industry, in February 2012 Frost applied to have its 113 year old federal charter collapsed and in turn converted into a state charter in June 2012.[2]


The bank was founded in 1868 in San Antonio by Col. T.C. Frost. Since then it has acquired many other Texas banks. In 1977, Frost Bank Corp. and Cullen Bankers, Inc. of Houston merged, forming the holding company, Cullen/Frost Bankers, Inc.

In 1982 Cullen/Frost Bankers and United States National Bancshares, Inc. (USNB) of Galveston, Texas merged, but Frost operated USNB separately for nearly two decades.[3][4] As new financial services legislation allowed banks to broaden the services they offered customers, Cullen/Frost folded the USNB charter into Frost's in 2000.[5] With this action, the last bank using the federally forbidden United States National Bank title ceased to exist.[4]

Growing through the years, Frost was the 10th largest bank headquartered in Texas in the early 1980s. A decade later, it would be the biggest. As energy prices plunged, real estate slumped and the banking industry collapsed, Frost emerged as the only one of the top-10 banks based in Texas to survive intact, without federal assistance or a merger with an out-of-state financial institution.

Frost has more than quintupled in asset size since late 1992 by growing its banking, investments and insurance business and through acquisitions. On September 30, 2014, Frost Bank had $27.4 billion in assets, $30.3 billion in trust assets, and 123 locations in the San Antonio, Austin, Corpus Christi, Dallas, Fort Worth, Houston, the Rio Grande Valley and the Permian Basin regions.[6]

This growth has solidified the company’s Texas base and fueled an expansion of services. Today, Frost offers a broad range of financial services, including business and consumer banking; investment, trust, retirement and financial management services; insurance and investment banking.

Cullen/Frost Bankers, Inc. was originally listed on NASDAQ in 1977, but began trading under the symbol "CFR" on the New York Stock Exchange in 1997.[citation needed]

See also[edit]



  1. ^ "Top 100 Banks in Texas by Asset Size". Retrieved 2011-02-20. 
  2. ^ JESSICA SILVER-GREENBERG (2012-04-02). "Small Banks Shift Charters to Avoid U.S. as Regulator". New York Times. Retrieved 2012-05-01. 
  3. ^ "F.A. "Andy" Odom, president of the Galveston branch of Frost National Bank". Texas Banking. Retrieved 2009-11-20. 
  4. ^ a b Elder, Laura (2010-09-16). "Frost Bank puts building on the market". Galveston Daily News. Retrieved 2010-09-16. 
  5. ^ Shannon Buggs. "Isle bank joins Frost 18 years after buyout". Houston Chronicle. Retrieved 2009-11-20. 
  6. ^ "FDIC Institution Directory (#5510)". FDIC. 

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