Cullen/Frost Bankers, Inc.

Overview

Cullen/Frost Bankers, Inc. is a Texas-based financial holding company and bank holding company. It operates primarily through Frost Bank, its principal operating subsidiary, along with several non-bank subsidiaries to provide a broad suite of financial services. Frost Bank is the company’s Texas-focused banking arm.

Services offered

• Commercial and consumer banking
• Trust and investment management
• Insurance (through Frost Insurance Agency)
• Brokerage services (Frost Brokerage Services)
• Mutual funds and investment management
• Leasing and treasury management
• Capital markets advisory; fixed-income sales and trading; underwriting; securities safekeeping and clearance (Frost Bank’s Capital Markets Division)
• Global trade services, including foreign exchange, standby letters of credit, import/export letters of credit, and documentary collections
• International banking services for customers dealing with Mexico (primarily USD-denominated)
• Private wealth and investment services (Frost Wealth Advisors)
• Other services via subsidiaries (e.g., Tri–Frost Corporation holds securities; Cullen/Frost Capital Trust II issues trust preferred securities; FBS and Frost Investment Advisors/Services)

Primary operating segments

• Banking
• Frost Wealth Advisors

Geography and footprint

• Texas-focused operations across multiple markets: Austin, Dallas, Fort Worth, Gulf Coast, Houston, Permian Basin, and San Antonio
• Frost Bank operates approximately 204 financial centers and about 1,760 ATMs

Corporate structure and regulation

• Cullen/Frost is a separate legal entity from Frost Bank and is a financial holding company regulated by the Federal Reserve Board and other affiliated regulators
• Frost Bank is Texas state-chartered and is a member of the Federal Reserve System

Trust and asset management

• Estimated fair value of trust assets: $51.0 billion
• Managed assets: $26.7 billion
• Custody assets: $24.3 billion

Key subsidiaries

• Frost Bank (principal operating subsidiary)
• Frost Insurance Agency, Inc. (insurance products and services)
• Frost Brokerage Services, Inc. (broker-dealer services)
• Frost Investment Advisors, LLC and Frost Investment Services, LLC (investment management)
• Tri–Frost Corporation (holds securities)
• Cullen/Frost Capital Trust II (issues trust preferred securities; not consolidated; a variable interest entity)

Key metrics and resources (as of December 31, 2025)

• Total consolidated assets: $53.0 billion
• Frost Bank total assets: $53.1 billion
• Frost Bank deposits: $43.3 billion
• Employees: 6,008 full-time equivalent (FTE)
  • Average tenure, all employees: 9.4 years
  • Average tenure, executive officers: 30.3 years
• Principal source of Cullen/Frost’s income: dividends from Frost Bank

Location and contact

• Executive offices: 111 W. Houston Street, San Antonio, Texas 78205
• Phone: (210) 220-4011