Frost Bank

Included in the list of largest US bank in terms of asset, Frost Bank is a Texan-based financial firm founded in 1868. It is an affiliate of Cullen/Frost Bankers, Inc. which is based in San Antonio, Texas. The bank holding company currently has an asset size of over 13 billion dollars. Likewise, it is a public holding corporation with stocks currently traded at New York Stock Exchange. It was initially listed in NASDAQ.

Thomas Claiborne Frost laid the foundation of Frost Bank which began as a private bank. It was primarily intended to finance the wool goods of his customer. At that time, Frost together with his brother and another partner had a business in wool commission. The business was named Fitch, Frost and Bro. which was initially operating as a mercantile and auction enterprise in San Antonio.

Frost Bank was operated as a private bank until 1899 when its founder made the initiative to obtain a national charter. At that year, the bank was valued at 1.3 million dollars.

Frost Bank’s prosperity was directly proportional to the growth in economic performance of San Antonio, Texas. The death of T.C. Frost in 1903 did not impede the growth of the bank. It was able to construct its own building on Main Plaza in San Antonio in 1922. It merged with Lockwood National Bank, the oldest bank in San Antonio in 1928.

Frost Bank made a lot of progress in Texas since then. Because of its strong foundation, it was able to withstand the Great Depression. While other banks run out, the bank continued to open its doors cementing a better relationship with the Texans through deposits and loans.

After a century since its inception, Frost Bank saw again another merger with a major bank in Texas. It amalgamated with the Houston-based Cullen Bank in 1977 creating Cullen/Frost Bankers. The creation of the holding company marked the entrance of the bank in Dallas and Houston. The company also made it in the listing of NASDAQ. The banking firm invested in advancing its technology to meet the growing demand of its client base.

Frost Bank saw another challenge in its industry in 1980’s. It was a time when oil price dropped and the climate of real estate market withered. The banking industry was greatly affected at that period because of the large portfolios containing loans in real estate and commercial that became non-performing. Many banks sought for federal assistance while others were acquired by out-of-state institutions. The financial storm did not intensely affect Frost Bank although its move for expansion was temporarily ceased. It did however manage to merge with Galveston, Texas-based United States National Bancshares, Inc. which occurred in 1982.

The last 10 years of the 20th century became the period of expansion and the bank’s eagerness for competition with other banks outside of Texas. In 1997, it shifted its stocks listing to NYSE.

The bank currently has over 100 financial centers in different cities and areas of Texas. It serves primarily banking with emphasis in providing financial products to consumers and businesses as well as offering brokerage services and insurance products. Frost Bank branches can also provide cards, loans and investment services. Its other services can include investment banking and capital markets.

Aside from San Antonio and Houston, Frost Bank locations can be found in Dallas, Austin, Boerne, Galveston, San Marcos, Fort Worth/Tarrant County, Corpus Christi, New Braunfels and Rio Grande Valley.

Aside from branch banking, Frost Bank can serve its customers through online banking. This can provide access to customers who desire to just stay at home or offices while making business with Frost Bank.

Frost Bank would still bring the legacy created by T.C. Frost. Its banking services can still go on primarily serving the Texans.