Profile: Cullen/Frost Bankers Inc (CFR)
23 Aug 2019
Cullen/Frost Bankers, Inc., incorporated on January 25, 1966, is a financial holding company and a bank holding company. The Company, through its subsidiaries, provides a range of products and services throughout Texas markets. The Company's segments include Banking, Frost Wealth Advisors and Non-Banks. The Banking segment includes both commercial and consumer banking services, and Frost Insurance Agency. Commercial banking services are provided to corporations and other business clients and include a range of lending and cash management products. Consumer banking services include direct lending and depository services. Frost Insurance Agency provides insurance brokerage services to individuals and businesses covering corporate and personal property and casualty products, as well as group health and life insurance products and human resources consulting services. The Frost Wealth Advisors segment includes fee-based services within private trust, retirement services, and financial management services, including personal wealth management and securities brokerage services. The Non-Banks segment includes the direct and indirect ownership of its banking and non-banking subsidiaries and the issuance of debt and equity.
The Company offers commercial and consumer banking services, as well as trust and investment management, insurance, brokerage, mutual funds, leasing, treasury management, capital markets advisory and item processing services. It serves a range of industries, including energy, manufacturing, services, construction, retail, telecommunications, healthcare, military and transportation. The Company's subsidiary is Frost Bank, which is engaged in the business of commercial and consumer banking.
The Company's loan portfolio consists of commercial and industrial, energy, construction and commercial real estate mortgage loans. It offers commercial and industrial loans to small, medium and large businesses. The commercial and industrial loan portfolio also includes the commercial lease and purchased shared national credits. Energy loans include loans to entities and individuals that are engaged in various energy-related activities, including the development and production of oil or natural gas; providing oil and gas field servicing; providing energy-related transportation services; providing equipment to support oil and gas drilling; refining petrochemicals, and trading oil, gas and related commodities. Its consumer real estate loans include home equity loans and home equity lines of credit. The consumer and other loan portfolio primarily consists of automobile loans, unsecured revolving credit products, personal loans secured by cash and cash equivalents, and other similar types of credit facilities. Its non-accrual real estate loans primarily consist of land development, one- to four-family residential construction credit relationships and loans secured by office buildings and religious facilities. As of December 31, 2016, the Company's total loans amounted to $11.97 billion.
The Company's investment activities include investment-grade United States treasury securities, the United States government agency securities and mortgage-backed securities, corporate bonds and notes and collateralized mortgage obligations. Corporate bonds and notes include investment-grade bonds and notes of the United States companies from various industries. The United States government agency securities include obligations of the Government National Mortgage Association (Ginnie Mae). States and political subdivisions include fixed income municipal securities. As of December 31, 2016, the Company's securities available for sale amounted to $10.2 billion. As of December 31, 2016, its securities held to maturity amounted to $2.25 billion.
Sources of Funds
The Company's primary source of short-term borrowings is federal funds purchased from correspondent banks and repurchase agreements in its natural trade territory, as well as from upstream banks. The Company's deposits include non-interest-bearing demand deposits and interest-bearing deposits. As of December 31, 2016, the Company's total deposits amounted to $25.81 billion.
The Company's subsidiaries include Frost Bank, Frost Insurance Agency, Inc., Frost Brokerage Services, Inc., Frost Investment Advisors, LLC, Tri-Frost Corporation and Main Plaza Corporation. Frost Bank provides commercial banking services to corporations and other business clients. Frost Bank provides a range of consumer banking services, including checking accounts, savings programs, overdraft facilities, installment and real estate loans, home equity loans and lines of credit, safe deposit facilities and brokerage services. Frost Bank provides international banking services to customers residing in or dealing with businesses located in Mexico. Frost Bank provides a range of trust, investment, agency and custodial services for individual and corporate clients. Frost Insurance Agency, Inc. provides insurance brokerage services to individuals and businesses covering corporate and personal property and casualty insurance products, as well as group health and life insurance products and consulting services.
Cullen/Frost Bankers Inc
111 W Houston St
SAN ANTONIO TX 78205