Frost Bank

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American Bank

title: "Frost Bank" type: doc version: 1 created: 2026-02-28 author: "Wikipedia contributors" status: active scope: public tags: ["1868-establishments-in-texas", "banks-based-in-texas", "american-companies-established-in-1868", "banks-established-in-1868", "companies-based-in-san-antonio", "companies-listed-on-the-new-york-stock-exchange", "companies-in-the-s&p-400"] description: "American Bank" topic_path: "geography/united-states" source: "https://en.wikipedia.org/wiki/Frost_Bank" license: "CC BY-SA 4.0" wikipedia_page_id: 0 wikipedia_revision_id: 0

::summary American Bank ::

::data[format=table title="Infobox company"]

FieldValue
nameCullen/Frost Bankers, Inc.
logoFrost Bank logo.svg
imageFrost_Tower_SA.jpg
image_captionHeadquarters at Frost Tower
typePublic
traded_as
S&P 400 componentRussell 1000 Index component
industryBanking
founded
hq_locationFrost Tower
hq_location_citySan Antonio, Texas
key_peoplePhil Green (Chairman & CEO)
Paul Bracher, President
Dan Geddes, CFO
net_income$323.6 million (2020)
assets$42.391 billion (2020)
equity$4.038 billion (2020)
num_employees4,685 (2020)
website
footnotes
::

| name = Cullen/Frost Bankers, Inc. | logo = Frost Bank logo.svg | image = Frost_Tower_SA.jpg | image_caption = Headquarters at Frost Tower | type = Public | traded_as = S&P 400 componentRussell 1000 Index component | industry = Banking | founded = | hq_location = Frost Tower | hq_location_city = San Antonio, Texas | key_people = Phil Green (Chairman & CEO) Paul Bracher, President Dan Geddes, CFO | net_income = $323.6 million (2020) | assets = $42.391 billion (2020) | equity = $4.038 billion (2020) | num_employees = 4,685 (2020) | website = | footnotes = ::figure[src="https://upload.wikimedia.org/wikipedia/commons/3/32/FrostBankTower-Feb2009-a.JPG" caption="The [[Frost Bank Tower]] is one of the tallest buildings in [[Austin, Texas]]."] ::

::figure[src="https://upload.wikimedia.org/wikipedia/commons/c/c3/Frost_Bank_Plaza,_cropped.jpg" caption="Frost Bank Plaza in [[Corpus Christi, Texas]]"] ::

Frost Bank is an American bank based in San Antonio that is chartered in Texas, with 200 branches and 1,750 automated teller machines in the state. It is the primary subsidiary of Cullen/Frost Bankers, Inc., a bank holding company. It is one of the 60 largest banks of the country by total assets.

History

Early years

Frost Bank was founded in 1868 as a mercantile partnership in San Antonio by Thomas Claiborne Frost, who had served as a lieutenant colonel in the Confederate States Army. In February 1899, it was chartered as a national banking association. The bank survived the Panic of 1907 with the aid of an association of local banks and by 1921, sold shares to outside investors for the first time. Frost continued to grow with the construction of a 12-story building in 1921, which was one of the tallest buildings in Texas at the time. By 1926, Joseph Hardin Frost, brother of T.C. Frost Jr., took over as president of the company.

Growth

Over the years, Frost has grown both organically and through the acquisition of other banks, beginning in 1928 with the purchase of Lockwood National Bank. In 1977, the company merged with Cullen Bankers, Inc. of Houston forming Cullen/Frost Bankers, Inc. and its stock began trading on the NASDAQ.

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. With this action, the last bank using the federally forbidden United States National Bank title ceased to exist.

In 1983, the bank announced it intended to merge with First City Bancorp of Houston, Texas, however the merger was never completed. First City was subsequently rescued by the FDIC in 1988 and ultimately bankrupted in 1992 and was absorbed by other banks, primarily Texas Commerce Bank (now Chase).

In 1999, Frost Bank acquired Commerce Financial Corp. and Frost Insurance Agency, a subsidiary of the bank acquired Professional Insurance Agents Inc.

In 2005-2006, the company acquired Alamo Bank of Texas, Horizon Capital Bank, Summit Bancshares Inc., and Texas Community Bank. In 2014, it acquired Western National Bank.

Industry changes

During the 2008 financial crisis, the bank did not accept government assistance via the Troubled Asset Relief Program,

Post Financial Crisis

Having fared well during the financial crisis, the company was able to invest in technology at a time when many institutions were forced to cut back on investment in infrastructure. Texas was affected less severely than other states because of liberal land use policies that kept land prices low relative to more restrictive states such as California and Florida.

Between 2025 and 2009, revenue has quadrupled while net income has tripled. The bank maintains a higher than industry average return on equity and benefits from lower tax rates in Texas. As of 2025 the bank has the largest ATM network in Texas.

References

References

  1. "Cullen/Frost Bankers, Inc. 2020 Form 10-K Annual Report". [[U.S. Securities and Exchange Commission]].
  2. (October 19, 2015). "San Antonio: Our Story of 150 Years in the Alamo City". [[Trinity University Press]].
  3. "F.A. "Andy" Odom, president of the Galveston branch of Frost National Bank". Texas Banking.
  4. Shannon Buggs. "Isle bank joins Frost 18 years after buyout". Houston Chronicle.
  5. Elder, Laura. (2010-09-16). "Frost Bank puts building on the market". Galveston Daily News.
  6. ELDER, LAURA. (April 13, 2016). "Developer eyes Frost Bank building for apartments". [[The Daily News (Texas)]].
  7. (July 27, 1983). "TEXAS BANK UNITS AGREE TO MERGER". [[The New York Times]].
  8. (February 17, 1999). "Cullen/Frost to acquire Commerce Financial". [[American City Business Journals]].
  9. (March 4, 1999). "Frost Bank subsidiary to acquire Victoria insurer". [[American City Business Journals]].
  10. Phinisee, Tamarind. (November 27, 2005). "Cullen/Frost continues to branch out through acquisitions". [[American City Business Journals]].
  11. (December 8, 2006). "Frost completes Summit Bank purchase". [[American City Business Journals]].
  12. (June 20, 2014). "Cullen/Frost Bankers Finalizes Merger of Western National Bank into Frost Bank". [[PR Newswire]].
  13. SILVER-GREENBERG, JESSICA. (April 3, 2012). "Small Banks Shift Charters to Avoid U.S. as Regulator". [[The New York Times]].
  14. https://www.newgeography.com/content/001680-how-texas-avoided-great-recession
  15. https://d18rn0p25nwr6d.cloudfront.net/CIK-0000039263/6db5a28a-74b5-4d48-8f1e-a4e961590229.pdf#page5

::callout[type=info title="Wikipedia Source"] This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page. ::

1868-establishments-in-texasbanks-based-in-texasamerican-companies-established-in-1868banks-established-in-1868companies-based-in-san-antoniocompanies-listed-on-the-new-york-stock-exchangecompanies-in-the-s&p-400