Frost National Bank
Encyclopedia
Frost National Bank is a nationally chartered bank
founded in 1868 and based in San Antonio, Texas
with more than 110 financial centers across Texas. Frost is the largest Texas-based bank with operations only in Texas, and is the 62nd 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
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Frost is a subsidiary of Cullen/Frost Bankers, Inc. , a financial holding company, also based in San Antonio, with $18.5 billion in assets.
, when thousands of banks in the U.S. failed.
Throughout its history, Frost has acquired many other Texas banks. In 1977, Frost Bank Corp. and Cullen Bankers, Inc. of Houston merged, forming the holding company, Cullen/Frost Bankers, Inc.
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. As new financial services legislation allowed banks to broaden the services they offered customers, Cullen/Frost folded the USNB charter into Frost's in 2000. With this action, the last bank using the federally forbidden United States National Bank title ceased to exist.
Growing through the years, Frost was the 10th largest bank headquartered in Texas in the early 1980s. A decade later, it would be the biggest. As energy prices plunged, real estate slumped and the banking industry collapsed, Frost emerged as the only one of the top-10 banks based in Texas to survive intact, without federal assistance or a merger with an out-of-state financial institution.
Frost has more than quintupled in asset size since late 1992 by growing its banking, investments and insurance business and through acquisitions. At March 31, 2011 the company had $17.9 billion in assets, $25.5 billion in trust assets, and 113 locations in the Austin, Corpus Christi, Dallas, Fort Worth, Galveston, Houston, San Antonio and Rio Grande Valley regions.
This growth has solidified the company’s Texas base and fueled an expansion of services. Today, Frost offers a broad range of sophisticated financial services, including business and consumer banking; investment, trust
, retirement and financial management services; insurance and investment banking.
Cullen/Frost Bankers, Inc. was originally listed on NASDAQ in 1977, but began trading under the symbol "CFR" on the New York Stock Exchange in 1997.
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
founded in 1868 and based in San Antonio, Texas
San Antonio, Texas
San Antonio is the seventh-largest city in the United States of America and the second-largest city within the state of Texas, with a population of 1.33 million. Located in the American Southwest and the south–central part of Texas, the city serves as the seat of Bexar County. In 2011,...
with more than 110 financial centers across Texas. Frost is the largest Texas-based bank with operations only in Texas, and is the 62nd 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
Texas
Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
.
Frost is a subsidiary of Cullen/Frost Bankers, Inc. , a financial holding company, also based in San Antonio, with $18.5 billion in assets.
History
Founded in 1868 in San Antonio by Col. T.C. Frost, Frost survived two World Wars, the 1929 stock market crash and the Great DepressionGreat Depression
The Great Depression was a severe worldwide economic depression in the decade preceding World War II. The timing of the Great Depression varied across nations, but in most countries it started in about 1929 and lasted until the late 1930s or early 1940s...
, when thousands of banks in the U.S. failed.
Throughout its history, Frost has acquired many other Texas banks. In 1977, Frost Bank Corp. and Cullen Bankers, Inc. of Houston merged, forming the holding company, Cullen/Frost Bankers, Inc.
In 1982 Cullen/Frost Bankers and United States National Bancshares, Inc.
United States National Bank
The United States National Bank of Galveston [USNB] was a federally chartered bank in Galveston, Texas. It was founded in 1874 and was merged into Frost National Bank in 2000. It was the last of 33 banks chartered in the US that used the forbidden title "United States" in its name.- History :The...
(USNB) of Galveston, Texas
Galveston, Texas
Galveston is a coastal city located on Galveston Island in the U.S. state of Texas. , the city had a total population of 47,743 within an area of...
merged, but Frost operated USNB separately for nearly two decades. As new financial services legislation allowed banks to broaden the services they offered customers, Cullen/Frost folded the USNB charter into Frost's in 2000. With this action, the last bank using the federally forbidden United States National Bank title ceased to exist.
Growing through the years, Frost was the 10th largest bank headquartered in Texas in the early 1980s. A decade later, it would be the biggest. As energy prices plunged, real estate slumped and the banking industry collapsed, Frost emerged as the only one of the top-10 banks based in Texas to survive intact, without federal assistance or a merger with an out-of-state financial institution.
Frost has more than quintupled in asset size since late 1992 by growing its banking, investments and insurance business and through acquisitions. At March 31, 2011 the company had $17.9 billion in assets, $25.5 billion in trust assets, and 113 locations in the Austin, Corpus Christi, Dallas, Fort Worth, Galveston, Houston, San Antonio and Rio Grande Valley regions.
This growth has solidified the company’s Texas base and fueled an expansion of services. Today, Frost offers a broad range of sophisticated financial services, including business and consumer banking; investment, trust
Trust law
In common law legal systems, a trust is a relationship whereby property is held by one party for the benefit of another...
, retirement and financial management services; insurance and investment banking.
Cullen/Frost Bankers, Inc. was originally listed on NASDAQ in 1977, but began trading under the symbol "CFR" on the New York Stock Exchange in 1997.
Financial center locations
Frost Bank operates 113 financial centers across Texas in the following markets:- AlamoAlamo, TexasAlamo, Texas, in what is nicknamed the "Land of Two Summers," is a town in the irrigated area of southern Hidalgo County, Texas. This town was incorporated in 1924, and it was named for the Alamo Land and Sugar Company, is 240 miles south of the more famous Texas Alamo Mission, and is near the...
(2) - AustinAustin, TexasAustin is the capital city of the U.S. state of :Texas and the seat of Travis County. Located in Central Texas on the eastern edge of the American Southwest, it is the fourth-largest city in Texas and the 14th most populous city in the United States. It was the third-fastest-growing large city in...
(11) - BrownsvilleBrownsville, TexasBrownsville is a city in the southernmost tip of the state of Texas, in the United States. It is located on the northern bank of the Rio Grande, directly north and across the border from Matamoros, Tamaulipas, Mexico. Brownsville is the 16th largest city in the state of Texas with a population of...
(1) - BoerneBoerne, TexasBoerne is a city in the Hill Country of Texas in the United States. It is the county seat of Kendall County. Boerne was named in honor of Ludwig Börne, a Jewish German author and publicist, and its population was 10, 471 in the 2010 census. The city is noted for the landmark U.S. Supreme Court...
(2) - Corpus ChristiCorpus Christi, TexasCorpus Christi is a coastal city in the South Texas region of the U.S. state of Texas. The county seat of Nueces County, it also extends into Aransas, Kleberg, and San Patricio counties. The MSA population in 2008 was 416,376. The population was 305,215 at the 2010 census making it the...
(8) - DallasDallas, TexasDallas is the third-largest city in Texas and the ninth-largest in the United States. The Dallas-Fort Worth Metroplex is the largest metropolitan area in the South and fourth-largest metropolitan area in the United States...
(7) - DonnaDonna, TexasDonna is a city in Hidalgo County, Texas, United States. The population was 15,798 at the 2010 census. The city's motto is "The Heart of the Valley." Donna is part of the McAllen–Edinburg–Mission and Reynosa–McAllen metropolitan areas....
(1) - Fort WorthFort Worth, TexasFort Worth is the 16th-largest city in the United States of America and the fifth-largest city in the state of Texas. Located in North Central Texas, just southeast of the Texas Panhandle, the city is a cultural gateway into the American West and covers nearly in Tarrant, Parker, Denton, and...
(22) - GalvestonGalveston, TexasGalveston is a coastal city located on Galveston Island in the U.S. state of Texas. , the city had a total population of 47,743 within an area of...
(2) - HarlingenHarlingen, TexasHarlingen is a city in Cameron County in the heart of the Rio Grande Valley of south Texas, United States, about from the coast of the Gulf of Mexico. The city covers more than , and is the second largest city in Cameron County and the sixth largest in the Rio Grande Valley...
(3) - HoustonHouston, TexasHouston is the fourth-largest city in the United States, and the largest city in the state of Texas. According to the 2010 U.S. Census, the city had a population of 2.1 million people within an area of . Houston is the seat of Harris County and the economic center of , which is the ...
(23) - New BraunfelsNew Braunfels, TexasNew Braunfels is a city in Comal and Guadalupe counties in the U.S. state of Texas that is a principal city of the metropolitan area. Braunfels means "brown rock" in German; the city is named for Braunfels, in Germany. The city's population was 57,740 as of the 2010 census, up 58% from the 2000...
(1) - PharrPharr, TexasPharr is a city in Hidalgo County, Texas, United States. As of the 2010 census, the city population was 70,400. Pharr is connected by bridge to the Mexican city of Reynosa, Tamaulipas...
(1) - Rio Grande ValleyRio Grande ValleyThe Rio Grande Valley or the Lower Rio Grande Valley, informally called The Valley, is an area located in the southernmost tip of South Texas...
(13) - San AntonioSan Antonio, TexasSan Antonio is the seventh-largest city in the United States of America and the second-largest city within the state of Texas, with a population of 1.33 million. Located in the American Southwest and the south–central part of Texas, the city serves as the seat of Bexar County. In 2011,...
(22) - San MarcosSan Marcos, TexasSan Marcos is a city in the U.S. state of Texas, and is the seat of Hays County. Located within the metropolitan area, the city is located on the Interstate 35 corridor—between Austin and San Antonio....
(2) - Round RockRound Rock, TexasRound Rock is a city in Travis and Williamson counties in the U.S. state of Texas. It is part of the metropolitan area. The 2010 census places the population at 99,887....
(1) - WeslacoWeslaco, TexasWeslaco is a city in Hidalgo County, Texas, United States. The population was 35,670 at the 2010 census. Weslaco derives its name from the W.E. Stewart Land Company...
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