Established in 1868 in San Antonio, Frost received a national bank charter in 1899 and switched to a state charter in 2012.
One of the 50 largest U.S. banks, Cullen/Frost is a financial services company, with $32.3 billion in assets at December 31, 2018 and $36 billion in trust, brokerage and advisory assets as of June 30, 2017.
The largest Texas-based banking company that operates only in Texas, with more than 4,000 employees statewide, Frost offers banking, investments and insurance to Texans in the San Antonio, Austin, Corpus Christi, Dallas, Fort Worth, Houston and Permian Basin and Rio Grande Valley regions.
The holding company, Cullen/Frost Bankers, Inc. was created with the 1977 merger of Frost Bank Corp. and Cullen Bankers, Inc. The stock was first listed on Nasdaq and has been listed on the NYSE since 1997 under the ticker CFR.
1980s - Frost made it through the oil, real estate and banking crisis as the only top-10 Texas-based bank holding company to survive without needing Federal assistance or being taken over by an out-of-state bank.
After a decade-long depression in Texas, Frost began acquiring other banking companies in the early 1990s. These acquisitions across the state helped Frost expand its geographical footprint to eight regions.
In 1999 Frost established an insurance subsidiary, Frost Insurance, and has acquired a number of strong, independent agencies in the markets it serves. Frost Insurance is the fourth largest agency headquartered in Texas, ranking 61st of the top 100 insurance firms in the U.S. and eighth among all U.S. bank-owned agencies.
In 2008, Frost was the first bank in the nation to turn down TARP bailout funds and survived the financial crisis and the Great Recession stronger than before the crisis began.
Over the last eight years, Frost has more than doubled in asset size to $32.3 billion. Deposit growth from 2007 to 2015 rose $13.8 billion, or 131 percent, reflecting customer confidence in Frost as a safe haven for their money.