CULLEN/FROST BANKERS, INC.

Overview

Cullen/Frost Bankers, Inc. is a Texas-based financial holding company whose principal subsidiary, Frost Bank, provides commercial and consumer banking services. Its business is concentrated in Texas, with banking, wealth management and insurance services; Frost Bank’s statewide network included about 204 financial centers and 1,760 ATMs at year-end 2025.[1][2]

For the year ended December 31, 2025, the company reported $1.736 billion in net interest income and $499.1 million in non-interest income.[3][3] Frost’s current company fact sheet states it has more than 6,000 employees statewide, and its stated mission is to “grow and prosper” through long-term relationships, high-quality service and ethical, sound banking.[4][5] [1]+7

Products & services

Cullen/Frost’s personal banking products include checking and savings accounts, money-market accounts, certificates of deposit, debit cards, and personal lending such as personal loans, lines of credit, auto loans, home-improvement loans, and mortgages. Digital banking capabilities include mobile account access, bill payment and transfers, alerts, contactless payments, digital-wallet support, and card controls.[6]+4

For businesses, offerings include checking and savings accounts, lending and financing, treasury management, merchant services, business cards, fraud-prevention services, and support for public funds, global trade, and correspondent banking. Treasury services include electronic transfers, custom reporting, cash-flow management, and ACH deposits, debits, cash concentration, and disbursements, with ACH monitoring and blocking options.[11]+3

Other offerings include fee-based private trust, retirement, personal wealth-management and securities-brokerage services through Frost Wealth Advisors, and insurance brokerage through Frost Insurance Agency for corporate and personal property-and-casualty, group health, and life coverage. In 2025, investment-management fees accounted for approximately 81.8% of Frost Wealth Advisors’ trust and investment-management fee category; this is not a percentage of company-wide revenue.[2][15] [2]+10

Geographic presence

Cullen/Frost Bankers’ banking footprint is concentrated in Texas. At December 31, 2025, its principal banking subsidiary, Frost Bank, operated approximately 204 financial centers and approximately 1,760 ATMs throughout the state. Its named markets are Austin, Dallas, Fort Worth, the Gulf Coast, Houston, the Permian Basin and San Antonio; the Gulf Coast region includes Corpus Christi and the Rio Grande Valley.[1][16] The company is headquartered in downtown San Antonio and maintains facilities across its primary-market regions.[17]

Most lending activity is in Texas, including the Austin, Dallas/Fort Worth, Houston and San Antonio metropolitan areas, as well as other markets.[18] The available reporting describes a regional operating structure but does not provide revenue or employee counts by geography. [1]+3

Business segments

Cullen/Frost Bankers reports three operating segments: Banking, Frost Wealth Advisors, and Non-Banks. Banking encompasses commercial and consumer banking, lending, cash management and deposit services, as well as the Frost Insurance Agency. Frost Wealth Advisors provides private trust, retirement and financial-management services, including personal wealth management and securities brokerage. Non-Banks consists primarily of the parent holding company and certain other subsidiaries, and includes some eliminations; Banking and Frost Wealth Advisors are the two primary operating segments.[19]

By external-customer revenue, Banking contributed approximately 90.9% of FY2025 consolidated revenue ($2,031.2 million of $2,235.2 million), and Frost Wealth Advisors contributed approximately 9.7% ($217.3 million); Non-Banks reported $(13.3) million, or approximately -0.6%.[20] For the first half of 2026, Banking contributed approximately 90.6% of revenue ($1,043.2 million of $1,150.8 million), Frost Wealth Advisors 9.9% ($113.6 million), and Non-Banks $(5.9) million, or approximately -0.5%.[21] The negative Non-Banks amounts reflect the reported external-customer revenue measure, which includes expenses.[20][21]

Segment results are reviewed by the chief operating decision maker, with management using match-funded transfer pricing to allocate costs, capital and resources among segments.[2] The latest annual report cited is FY2025, and the latest interim filing is for the six months ended June 30, 2026.[22][23] [19]+5

Company history

Cullen/Frost traces its roots to 1868, when T.C. Frost began a mercantile business in San Antonio; the business received a national banking charter in 1899 and added trust powers in 1919. Frost later introduced a motor bank in 1965 and became the first Texas bank to offer ATMs in 1979.[24]

The present company was formed in 1977 through the merger of Frost Bank Corp. and Houston-based Cullen Bankers, Inc.[4] Frost weathered the Texas banking crisis of the 1980s without federal assistance or an out-of-state takeover, and the company listed on the New York Stock Exchange in 1997.[24] In 2014, Cullen/Frost completed the merger of Western National Bank into Frost Bank, adding $1.8 billion in assets at closing.[25] [1]+3

Sources

• CULLEN/FROST BANKERS, INC. — Full financial report (2025 Y)
  6 citations

  [1][2][3][15][17][20]
• www.frostbank.com[4]
• careers.frostbank.com[5]
• www.frostbank.com[6]
• www.frostbank.com[7]
• www.frostbank.com[8]
• www.frostbank.com[9]
• www.frostbank.com[10]
• www.frostbank.com[11]
• www.frostbank.com[12]
• www.frostbank.com[13]
• www.frostbank.com[14]
• CULLEN/FROST BANKERS, INC. — Full financial report (2026 Q 2)
  4 citations

  [16][18][19][21]
• www.sec.gov[22]
• www.sec.gov[23]
• www.frostbank.com[24]
• investor.frostbank.com[25]