Frost Bank
| File:Logo FrostBank.gif | |
| Company type | Public (NYSE:CFR) |
|---|---|
| Industry | Finance and Insurance |
| Founded | 1868 |
| Headquarters | San Antonio, Texas |
Key people | Tom Frost, Senior Chairman Richard W. Evans, Jr., Chairman & CEO Phillip D. Green, Group Executive Vice President & CFO |
| Products | Banking |
| Revenue | $629.3 million USD (FY 2005) $67.1M |
Number of employees | 3,660 |
| Website | www.frostbank.com |
Frost National Bank is a nationally chartered bank founded in 1868 that is based in San Antonio, Texas. Frost Bank is the largest Texas-based bank in Texas and is the 74th largest U.S. bank by asset size. The company offers a full range of commercial and consumer banking products, investment and brokerage services, insurance products and investment banking needs to customers throughout Texas.
Frost Bank is a subsidiary of Cullen/Frost Bankers, Inc. (NYSE: CFR), a financial holding company, also based in San Antonio, with over $11.4 billion in assets.
History
Cullen/Frost Bankers, Inc. was formed in 1977 after Frost Bank merged with Cullen Bank of Houston, Texas. In 1982 Cullen/Frost Bankers merged with United States National Bancshares, Inc. of Galveston, Texas and added United States National Bank (USNB) to its portfolio. USNB was the only other Cullen/Frost bank to remain separate from Frost National Bank until 2000, when Y2K issues forced CFR to merge the two banks. With the merger, the last bank using the federally forbidden United States National Bank title ceased to exist.
Not only did the finanical institution survive the Great Depression, but it is also the sole top 10 Texas bank holding company to survive the financial, real estate and petrochemical crisis in Texas during the 1980s without federal assistance or merger. Both internal growth as well as expansion and acquisition in key Texas markets starting in the 1990s, have allowed the company to more than triple its assets as well as produce a strong and consistent earnings record.
Cullen/Frost Bankers, Inc. was originally listed on NASDAQ, but began trading under the symbol "CFR" on the NYSE in 1997.
Banking center locations
Frost Bank operates more than 90 financial centers across Texas in the following markets:
- Austin (6)
- Boerne (2)
- Corpus Christi (8)
- Dallas/Fort Worth Metroplex (19)
- Galveston (2)
- Houston (23)
- New Braunfels (1)
- Rio Grande Valley (13 - including 10 locations of the recently acquired Alamo Bank of Texas)
- San Antonio (17)
- San Marcos (2)
