My Frost Bank Account San Antonio

Cullen/Frost Reports First Quarter Results.

– Loans grow by 13.2 percent

– Deposits up by 14.2 percent

 , city (1990 pop. 935,933), seat of Bexar co., S central Tex., at the source of the San Antonio River; inc. 1837.
, April 24, 2013 /PRNewswire/ — Cullen/Frost Bankers,
Inc. today released results for the first quarter of 2013, as the Texas

financial services

 leader posted solid fundamentals and demonstrated its
ability to operate effectively in a challenging
tr.v. reg·u·lat·ed, reg·u·lat·ing, reg·u·lates
1. To control or direct according to rule, principle, or law.

 and interest
rate environment.


Cullen/Frost net income available to common shareholders for the
first quarter of 2013 was $55.1 million, or $.91 per
tr.v. di·lut·ed, di·lut·ing, di·lutes
1. To make thinner or less concentrated by adding a liquid such as water.

2. To lessen the force, strength, purity, or brilliance of, especially by admixture.
share, compared to net earnings of $61.0 million, or $.99 per diluted
common share for the first quarter 2012. For the first quarter of 2013,
return on average assets and return on average common equity were 1.01
percent and 9.47 percent, respectively, compared to 1.23 percent and
10.59 percent for the same period of 2012.

“I am very pleased with our loan and deposit growth for the
first quarter compared to last year’s first quarter,” said
 , Herbert McLean 1882-1971.

American anatomist who isolated four pituitary hormones and discovered vitamin E (1922).
, Cullen/Frost Chairman and

. “Although many
businesses remain somewhat cautious, we are seeing the results of our
disciplined calling effort, as both new and established customers
generated average loan growth of 13.2 percent. Deposits continue to be
strong, with average deposits up a solid 14.2 percent, or $2.3 billion,
since the first quarter of 2012. Fee income growth this quarter was


Of or relating to an index or average that provides a good representation of the overall market. The S&P 500 and NYSE Composite are generally regarded as broad-based stock indexes, while the popular Dow Jones Industrial Average is biased
, including a 6 percent increase in trust and investment
management fees and a 5.6 percent increase in insurance commissions and

The provision for loan losses was $6.0 million, compared to $1.1
million for the first quarter of 2012 and $4.1 million for the fourth
quarter of 2012. Net charge-offs for the first quarter of 2013 were
$16.9 million compared to $4.1 million for the first quarter of 2012.
Included in the first quarter’s charge-offs was a $15 million
charge-off associated with a single commercial and industrial loan
relationship. “Aside from this one loan, all traditional measures
of credit quality remain positive,” said Evans. Non-performing
assets at March 31, 2013 were $105.9 million, compared to $120.5 million
for the first quarter of 2012.

“Our capital levels and liquidity are stronger today than
before the financial crisis began in 2008. Even as other banks
v. sus·pend·ed, sus·pend·ing, sus·pends
1. To bar for a period from a privilege, office, or position, usually as a punishment:
 dividends during the recession, Cullen/Frost continued to pay – and even
increase – the dividend we pay our shareholders. We have increased our
dividend for 18 consecutive years.

“As always, I thank our outstanding employees for their hard
work, loyalty and commitment to ensuring that our customers have a
positive experience at Frost.

“Just this past week, J.D. Power and Associates’ 2013
Retail Banking Satisfaction Study ranked Frost highest in customer
satisfaction with retail banking in Texas for the fourth consecutive
year. I am grateful to our employees for making this possible,”
Evans continued.

For the first quarter of 2013, average total loans were $9.1
billion, an increase of $1.1 billion, or 13.2 percent, compared to $8.0
billion for the first quarter of 2012. Average total deposits for the
first quarter 2013 rose to $18.7 billion, up 14.2 percent, or $2.3
billion, over the $16.4 billion reported for the first quarter of 2012.
Net interest income on a taxable-equivalent basis increased to $172.8
million, up 4.9 percent over the $164.7 million reported for the first
quarter a year ago.

Noted financial data for the first quarter :

* Tier 1 and Total Risk-Based Capital Ratios for the Corporation at
the end of the first quarter of 2013 were 14.23 percent and 15.44
percent, respectively, and are in excess of well-capitalized levels. The
ratio of

 common equity to tangible assets was 8.00 percent at
the end of the first quarter of 2013, compared to 8.93 percent for the
same quarter last year. The tangible common equity ratio, which is a
non-GAAP financial measure, is equal to end of period common
shareholders’ equity less goodwill and intangible assets divided by
end of period total assets less goodwill and intangible assets.

* Net interest income on a taxable-equivalent basis for the first
quarter totaled $172.8 million, an increase of 4.9 percent compared to
the $164.7 million reported for the first quarter of 2012. The increase
was driven primarily from an increase in the average volume of

 and was partly offset by a decrease in the net interest margin.
The net interest margin was 3.45 percent for the first quarter, compared
to 3.73 percent for the first quarter of 2012 and 3.48 percent for the
fourth quarter of 2012.

* Non-interest income for the first quarter of 2013 was $77.8
million, compared to the $72.0 million reported a year earlier. Trust
and investment management fees increased $1.2 million, or 6.0 percent,
to $21.9 million, from the $20.7 million reported in the first quarter
of 2012. Most of this increase was due to investment fees, up $1.3
million from the first quarter last year. Insurance commissions and fees
were $13.1 million, a 5.6 percent increase over the $12.4 million
reported for the first quarter of 2012. Other income was $11.0 million,
up $3.8 million from the $7.2 million reported for the previous
year’s first quarter. The increase was due to a gain recognized
from the sale of a bank owned

 San Antonio office building and
parking garage of $4.3 million that occurred in the first quarter of

* Non-interest expense for the first quarter of 2013 was $155.8
million, up $13.8 million, from the $142.0 million for the first quarter
of 2012. Salaries and employee benefits were up $4.1 million, or 5.0
percent, over the same quarter a year earlier, as a result of normal
annual merit and market increases, and an increase in incentive
compensation offset in part by a decrease in employee stock compensation
expense. Other expense was $41.5 million, an $8.6 million increase from
the $32.9 million reported for the first quarter of 2012.
1. Almost exact or correct:

 $6.2 million of the increase was from the

 of land that is
part of the headquarters facility that was recently made available for
sale. Frost also had an $812,000 increase in ATM expense, related to a
branding arrangement that began in 2012 and more than doubled the number
of Frost ATMs. In addition, fraud losses were up $488,000 when compared
to the first quarter of 2012.

* For the first quarter of 2013, the provision for loan losses was
$6.0 million, compared to net charge-offs of $16.9 million. For the
first quarter of 2012, the provision for loan losses was $1.1 million,
compared to net charge offs of $4.1 million. The allowance for loan
losses as a percentage of total loans was 1.02 percent at March 31,
2013, compared to 1.32 percent at the end of the first quarter of 2012.
Non-performing assets were $105.9 million at the end of the first
quarter of 2013, compared to $120.5 million at the end of the first
quarter of 2012 and $105.2 million for the fourth quarter of 2012.

Cullen/Frost Bankers, Inc. will host a conference call on
 see week.
April 24, 2013 at 10 a.m. Central Daylight Time (

Central Daylight Time

 Central Daylight Time

 n abbr (US) (= Central Daylight Time) → hora de verano del centro;
) to discuss the
results for the quarter. The media and other interested parties are
invited to access the call in a “listen only” mode at
800-944-6430. Digital

 of the conference call will be available
after 12 p.m. CDT until midnight
 see Sabbath; week.
, April 28, 2013 at 855-859-2056,
with Conference ID# 35821897. The call will also be available by webcast
on the company’s website,, and available for playback
after 2 p.m. CDT. After entering the website, go to “About
Frost” on the top
navigation bar

, then click on


Cullen/Frost Bankers, Inc. (


) is a financial holding
company, headquartered in San Antonio, with $22.5 billion in assets at
March 31, 2013. Among the top 50 largest U.S. banks and one of 24 banks
included in the

KBW Keefe, Bruyette and Woods, Inc.
KBW Knowledge-Based Warfare
 Bank Index, Frost provides a wide range of banking,
investments and insurance services to businesses and individuals across
Texas in the

1 City (1990 pop. 21,907), seat of Mower co., SE Minn., on the Cedar River, near the Iowa line; inc. 1868. The commercial and industrial center of a rich farm region, it is noted as home to the Hormel meatpacking company, whose Spam Town museum
Corpus Christi
 [Lat.,=body of Christ], feast of the Western Church, observed on the Thursday after Trinity Sunday (or on the following Sunday).
 city (1990 pop. 1,006,877), seat of Dallas co., N Tex., on the Trinity River near the junction of its three forks; inc. 1871. The second largest Texas city, after Houston, and the eighth largest U.S.
, Fort Worth,
 city (1990 pop. 1,630,553), seat of Harris co., SE Tex., a deepwater port on the Houston Ship Channel; inc. 1837.

The fourth largest city in the nation and the largest in the entire South and Southwest, Houston is a port of entry;

 , city (1991 pop.
 Valley and San Antonio regions. Founded in 1868, Frost has helped
clients with their financial needs during three centuries. Additional
information is available at

Forward-Looking Statements and Factors that Could Affect Future

Certain statements contained in this Earnings Release that are not
statements of historical fact constitute forward-looking statements
within the meaning of the
Private Securities Litigation Reform Act

1995 (the “Act”),
notwithstanding that

 such statements are not
specifically identified as such. In addition, certain statements may be
contained in the Corporation’s future filings with the SEC, in
press releases, and in oral and written statements made by or with the
approval of the Corporation that are not statements of historical fact
and constitute forward-looking statements within the meaning of the Act.
Examples of forward-looking statements include, but are not limited to:
(i) projections of revenues, expenses, income or loss, earnings or loss
per share, the payment or

n. 1. Neglect or failure to pay.

Noun 1. nonpayment – act of failing to meet a financial obligation
nonremittal, default

failure – an act that fails; “his failure to pass the test”

 of dividends, capital structure and
other financial items; (ii) statements of plans, objectives and
expectations of Cullen/Frost or its management or Board of Directors,
including those
relating to
 relate prep

 relate prep → ,  
 products or services; (iii) statements of
future economic performance; and (iv) statements of assumptions
underlying such statements. Words such as “believes”,
“anticipates”, “expects”, “intends”,
“targeted”, “continue”, “remain”,
“will”, “should”, “may” and other similar
expressions are intended to identify forward-looking statements but are
not the exclusive means of identifying such statements.

Forward-looking statements involve risks and uncertainties that may
cause actual results to differ materially from those in such statements.
Factors that could cause actual results to differ from those discussed
in the forward-looking statements include, but are not limited to:

* Local, regional, national and international economic conditions
and the impact they may have on the Corporation and its customers and
the Corporation’s assessment of that impact.


 /dis·rup·tion/ () a morphologic defect resulting from the extrinsic breakdown of, or interference with, a developmental process.
 in national and international financial

* Government

 in the U.S. financial system.

* Changes in the mix of loan geographies, sectors and types or the
level of non-performing assets and charge-offs.

* Changes in estimates of future
reserve requirements

 based upon the
periodic review thereof under relevant regulatory and accounting

* The effects of and changes in trade and monetary and fiscal
policies and laws, including the interest rate policies of the Federal
Reserve Board.

* Inflation, interest rate, securities market and monetary

* The effects of changes in laws and regulations (including laws and
regulations concerning taxes, banking, securities and insurance) with
which the Corporation and its subsidiaries must comply.

* The soundness of other financial institutions.

* Political
 /in·sta·bil·i·ty/ () lack of steadiness or stability.

detrusor instability


 of the Corporation’s goodwill or other intangible

* Acts of God or of war or
 the threat or use of violence, often against the civilian population, to achieve political or social ends, to intimidate opponents, or to publicize grievances.

* The timely development and acceptance of new products and services
and perceived overall value of these products and services by users.

* Changes in
consumer spending

, borrowings and savings habits.

* Changes in the financial performance and/or condition of the
Corporation’s borrowers.

* Technological changes.

* Acquisitions and integration of acquired businesses.

* The ability to increase market share and control expenses.

* The Corporation’s ability to attract and retain qualified

* Changes in the competitive environment in the Corporation’s
markets and among banking organizations and other financial service

* The effect of changes in accounting policies and practices, as may
be adopted by the regulatory agencies, as well as the
Public Company
Accounting Oversight Board

, the
Financial Accounting Standards Board

other accounting standard setters.

* Changes in the reliability of the Corporation’s vendors,
internal control systems or information systems.

* Changes in the Corporation’s liquidity position.

* Changes in the Corporation’s organization, compensation and
benefit plans.

* The costs and effects of legal and regulatory developments
including the resolution of
legal proceedings

 or regulatory or other
governmental inquiries and the results of regulatory examinations or

* Greater than expected costs or difficulties related to the
integration of new products and lines of business.

* The Corporation’s success at managing the risks involved in
the foregoing items.

Forward-looking statements speak only as of the date on which such
statements are made. The Corporation undertakes no obligation to update
any forward-looking statement to reflect events or

the date on which such statement is made, or to reflect the occurrence
of unanticipated events.

[sup.(1)] Shareholders’ equity excluding
accumulated other
comprehensive income


Greg Parker

 Investor Relations 210/220-5632 or

 Sabel Media
Relations 210/220-5416

SOURCE Cullen/Frost Bankers, Inc.