Cullen/Frost Bankers, Inc. (CFR): Canvas del Modelo de Negocio [Actualizado en Ene-2025]

Sumérgete en el plan estratégico de Cullen/Frost Bankers, Inc. (CFR), una poderosa institución bancaria regional que ha creado magistralmente su modelo de negocio para dominar el panorama financiero texano. Con un enfoque centrado en el láser que combina soluciones digitales de vanguardia, servicio al cliente personalizado y profundas raíces comunitarias, CFR ha transformado la banca tradicional en una experiencia dinámica y centrada en el cliente que las distingue en un mercado competitivo. Descubra las intrincadas capas de su lienzo de modelo de negocio que revelan cómo esta institución financiera navega estratégicamente de asociaciones, recursos y propuestas de valor para brindar servicios bancarios excepcionales.

Cullen/Frost Bankers, Inc. (CFR) - Modelo de negocio: asociaciones clave

Alianzas estratégicas con empresas locales y cámaras de comercio

Cullen/Frost Bankers mantiene asociaciones estratégicas con múltiples redes comerciales locales en Texas. A partir de 2024, el banco tiene colaboraciones activas con:

Cámara de Comercio de San Antonio	Asociación Regional Primaria
Asociación de Negocios de Houston	Red metropolitana secundaria
Asociación de Banqueros de Texas	Red de colaboración estatal

Asociaciones con proveedores de tecnología para soluciones de banca digital

Cullen/Frost ha establecido asociaciones de tecnología crítica para mejorar las capacidades de banca digital:

• Servicios en la nube de Microsoft Azure
• Plataforma de banca digital Fiserv
• Integración de Salesforce CRM

Colaboración con nuevas empresas de tecnología financiera (FinTech)

El banco invierte activamente y se asocia con innovadores de FinTech, con inversiones estratégicas actuales de $ 12.5 millones en empresas emergentes de tecnología financiera.

Cartera de inversiones fintech	$ 12.5 millones
Número de asociaciones de inicio	7 asociaciones activas

Relaciones con redes de procesamiento de tarjetas de crédito

Cullen/Frost mantiene asociaciones críticas de procesamiento de pagos:

• Integración de red de visas
• Acuerdo de procesamiento de MasterCard
• Plataforma de colaboración American Express

Volumen de transacción total (2023)	$ 4.3 mil millones
Ingresos de procesamiento de tarjetas de crédito	$ 127 millones

Cullen/Frost Bankers, Inc. (CFR) - Modelo de negocio: actividades clave

Servicios bancarios comerciales y personales

A partir del cuarto trimestre de 2023, Cullen/Frost reportó $ 44.7 mil millones en depósitos totales. Los servicios de banca comercial generan aproximadamente $ 712 millones en ingresos anuales.

Categoría de servicio bancario	Ingresos anuales totales	Segmentos de clientes
Banca comercial	$ 712 millones	Empresas medianas, clientes corporativos
Banca personal	$ 456 millones	Consumidores individuales, clientes minoristas

Aviso de gestión de patrimonio e inversiones

Cullen/Frost administra $ 18.3 mil millones en activos de gestión de patrimonio a partir de 2023.

• Activos bajo administración: $ 18.3 mil millones
• Tamaño promedio de la cartera del cliente: $ 2.4 millones
• Ingresos de tarifas de asesoramiento de inversiones: $ 187 millones anuales

Servicios de préstamos y crédito

La cartera de préstamos totales alcanzó los $ 53.2 mil millones en 2023.

Tipo de préstamo	Valor total de la cartera	Tasa de interés promedio
Préstamos comerciales	$ 32.6 mil millones	6.45%
Préstamos al consumo	$ 20.6 mil millones	5.75%

Desarrollo de la plataforma de banca digital

Las transacciones bancarias digitales aumentaron en un 37% en 2023.

• Usuarios de banca móvil: 425,000
• Volumen de transacción bancaria en línea: 18.6 millones por trimestre
• Inversión de plataforma digital: $ 42 millones en 2023

Gestión de riesgos y monitoreo de cumplimiento

Presupuesto de cumplimiento y gestión de riesgos: $ 76 millones en 2023.

Área de cumplimiento	Presupuesto anual	Personal dedicado
Cumplimiento regulatorio	$ 42 millones	185 empleados
Gestión de riesgos	$ 34 millones	142 empleados

Cullen/Frost Bankers, Inc. (CFR) - Modelo de negocio: recursos clave

Red bancaria regional fuerte en Texas

A partir del cuarto trimestre de 2023, Cullen/Frost opera 145 centros bancarios en Texas, con una presencia concentrada en las principales áreas metropolitanas que incluyen:

Región	Número de centros bancarios
San Antonio	48
Houston	35
Austin	27
Dallas/Fort Worth	22

Profesionales financieros experimentados y equipo de gestión

Composición del equipo de gestión a partir de 2024:

• Promedio de tenencia ejecutiva: 15.3 años
• Doctor en Filosofía. y titulares de grado avanzado: 62% del liderazgo superior
• Experiencia de la industria bancaria promedio: 22.7 años

Infraestructura de banca digital avanzada

Métricas de plataforma de banca digital:

Servicio digital	Tasa de adopción de usuarios
Banca móvil	78.4%
Banca en línea	82.6%
Volumen de transacción digital	$ 3.2 mil millones mensuales

Capital financiero y reservas robustas

Indicadores de capital financiero para 2023:

• Activos totales: $ 44.3 mil millones
• Relación de capital de nivel 1: 13.7%
• Equidad total de los accionistas: $ 6.8 mil millones
• Equivalentes en efectivo y efectivo: $ 2.1 mil millones

Sistemas de gestión de datos y relaciones de clientes

Métricas de la relación con el cliente:

Segmento de clientes	Número de clientes
Banca personal	387,000
Banca de negocios	58,400
Gestión de patrimonio	22,600

Cullen/Frost Bankers, Inc. (CFR) - Modelo de negocio: propuestas de valor

Servicios bancarios personalizados para empresas e individuos locales

A partir del cuarto trimestre de 2023, los banqueros Cullen/Frost brindan servicios bancarios personalizados con las siguientes métricas financieras:

Categoría de servicio	Total de clientes	Valor de cuenta promedio
Banca de negocios	48,392 clientes comerciales	$ 1.2 millones por cuenta
Banca personal	214,567 clientes individuales	$ 87,500 por cuenta

Soluciones financieras integrales adaptadas a las necesidades del mercado regional

Las soluciones financieras regionales incluyen:

• Préstamos comerciales centrados en Texas
• Productos financieros de pequeñas empresas
• Banca especializada del sector agrícola y energética

Segmento de préstamos	Cartera de préstamos totales	Índice de crecimiento
Préstamo comercial	$ 24.3 mil millones	5.7% año tras año
Préstamos para pequeñas empresas	$ 3.6 mil millones	4.2% año tras año

Servicio al cliente de alto contacto con conveniencia tecnológica

Métricas de participación bancaria digital:

• Usuarios de banca móvil: 167,893
• Penetración bancaria en línea: 72.3%
• Volumen de transacción digital: 3.4 millones de transacciones mensuales

Tasas de interés competitivas y productos financieros

Tipo de producto	Tasa de interés	Comparación de mercado
Cuenta de ahorros	4.25%	0.35% por encima del promedio regional
Verificación de negocios	3.75%	0.25% por encima del promedio regional

Fuerte enfoque bancario centrado en la comunidad

Estadísticas de inversión comunitaria:

• Inversiones totales de desarrollo comunitario: $ 42.6 millones
• Asociaciones locales sin fines de lucro: 87
• Programa de subvenciones comunitarias: $ 3.2 millones distribuidos

Cullen/Frost Bankers, Inc. (CFR) - Modelo de negocio: relaciones con los clientes

Gerentes de relaciones dedicadas para clientes comerciales

A partir del cuarto trimestre de 2023, Cullen/Frost Bankers atiende a 26,749 clientes comerciales con gerentes de relaciones dedicadas. El banco mantiene una cartera promedio de clientes de 87 cuentas comerciales por gerente de relaciones.

Segmento de clientes	Número de gerentes dedicados	Cuentas promedio por gerente
Pequeño negocio	142	63
Mercado medio	76	124
Banca corporativa	34	215

Plataformas de banca en línea y móvil

En 2023, la plataforma de banca digital de Cullen/Frost registró 1.2 millones de usuarios activos con las siguientes métricas de compromiso:

• Descargas de aplicaciones de banca móvil: 487,000
• Volumen de transacciones en línea: 3.4 millones de transacciones mensuales
• Crecimiento del usuario de la banca digital: 14.3% año tras año

Servicios de consultoría financiera personalizada

Cullen/Frost ofrece consultoría financiera especializada con 214 asesores financieros certificados en Texas, que atiende a 18,345 clientes de alto patrimonio en 2023.

Tipo de servicio de consultoría	Número de clientes	Activos promedio bajo administración
Gestión de patrimonio	8,742	$ 4.3 millones
Planificación de jubilación	6,213	$ 1.7 millones
Aviso de inversión	3,390	$ 6.2 millones

Programas de participación comunitaria y apoyo local

En 2023, Cullen/Frost invirtió $ 4.2 millones en programas de apoyo comunitario en 157 comunidades de Texas.

Mecanismos regulares de comunicación y retroalimentación del cliente

Métricas de satisfacción del cliente para el espectáculo de 2023:

• Puntuación del promotor neto: 72
• Tasa de respuesta de comentarios de comentarios de los clientes: 94%
• Tiempo de resolución promedio para consultas de clientes: 1.3 días hábiles

Cullen/Frost Bankers, Inc. (CFR) - Modelo de negocio: canales

Red de sucursales bancarias físicas

A partir de 2024, los banqueros Cullen/Frost opera 144 centros bancarios totales, ubicados principalmente en Texas.

Región	Número de ramas
Área metropolitana de San Antonio	62
Área metropolitana de Houston	35
Otras regiones de Texas	47

Sitio web de banca en línea

La plataforma digital de Cullen/Frost atiende a aproximadamente 320,000 usuarios bancarios en línea activos.

• Sitio web: FrostBank.com
• Volumen de transacciones digitales: 2.4 millones de transacciones mensuales
• Tasa de apertura de la cuenta en línea: 42% de las cuentas nuevas

Aplicación de banca móvil

La aplicación Frost Mobile admite más de 250,000 usuarios mensuales activos.

Módulo de aplicación móvil	2024 datos
Usuarios activos mensuales	252,000
Depósitos de verificación móvil	1.6 millones por mes
Calificación de la tienda de aplicaciones	4.7/5.0

Red de cajeros automáticos

Cullen/Frost mantiene 265 cajeros automáticos patentados en Texas.

• Total de ubicaciones de cajeros automáticos: 265
• Transacciones gratuitas para titulares de cuentas: ilimitado
• Volumen de transacción de cajero automático: 720,000

Centros de llamadas de servicio al cliente

El banco opera dos centros principales de servicio al cliente que manejan 185,000 interacciones mensuales.

Métrico del centro de llamadas	2024 rendimiento
Interacciones mensuales	185,000
Tiempo de espera promedio	3.2 minutos
Tasa de satisfacción del cliente	92%

Cullen/Frost Bankers, Inc. (CFR) - Modelo de negocio: segmentos de clientes

Empresas pequeñas a medianas en Texas

A partir del cuarto trimestre de 2023, Cullen/Frost atiende a aproximadamente 52,000 clientes comerciales pequeños a medianos en Texas.

Segmento de negocios	Número de clientes	Ingresos anuales promedio
Micro empresas	24,500	$ 250,000 - $ 1 millón
Pequeñas empresas	19,200	$ 1 millón - $ 10 millones
Empresas medianas	8,300	$ 10 millones - $ 50 millones

Clientes de banca minorista individual

Total de clientes de banca minorista: 387,000 a diciembre de 2023.

• Cuentas corrientes personales: 265,000
• Cuentas de ahorro: 212,000
• Usuarios de banca digital: 278,000

Individuos de alto nivel de red

Cullen/Frost maneja $ 4.2 mil millones en activos de gestión de patrimonio para clientes de alto nivel de red.

Segmento de riqueza	Número de clientes	Valor de cartera promedio
Ultra alto-patrimonio	620	$ 10 millones+
De alto nivel	3,800	$ 1 millón - $ 10 millones

Gobierno local y entidades municipales

Atiende a 183 clientes municipales en Texas con activos bancarios municipales totales de $ 1.67 mil millones.

Clientes comerciales y corporativos

Cartera de banca corporativa: 2.450 clientes comerciales con cartera total de préstamos comerciales de $ 12.3 mil millones.

Sector industrial	Número de clientes	Exposición total del préstamo
Energía	540	$ 3.6 mil millones
Bienes raíces	620	$ 2.9 mil millones
Cuidado de la salud	410	$ 1.8 mil millones
Tecnología	380	$ 1.5 mil millones
Otras industrias	500	$ 2.5 mil millones

Cullen/Frost Bankers, Inc. (CFR) - Modelo de negocio: Estructura de costos

Gastos de operación de rama

A partir de la información financiera de 2022, los banqueros Cullen/Frost mantuvieron 144 ubicaciones de los centros financieros principalmente en Texas. Los gastos operativos totales de la sucursal fueron de $ 187.3 millones en 2022.

Categoría de gastos	Costo anual
Alquiler e instalaciones	$ 62.4 millones
Utilidades	$ 8.7 millones
Mantenimiento	$ 15.2 millones

Tecnología e inversiones en infraestructura digital

En 2022, Cullen/Frost invirtió $ 93.6 millones en infraestructura tecnológica y plataformas digitales.

• Inversiones de ciberseguridad: $ 24.5 millones
• Desarrollo de la plataforma de banca digital: $ 38.2 millones
• Actualizaciones de hardware y software: $ 30.9 millones

Salarios y beneficios de los empleados

La compensación total de los empleados para 2022 fue de $ 456.7 millones.

Componente de compensación	Costo anual
Salarios base	$ 312.4 millones
Bonos de rendimiento	$ 68.3 millones
Beneficios de atención médica y jubilación	$ 76.0 millones

Costos de cumplimiento regulatorio

Los gastos de cumplimiento para 2022 totalizaron $ 47.5 millones.

• Sistemas de informes regulatorios: $ 16.2 millones
• Personal de cumplimiento: $ 22.3 millones
• Auditoría externa y consultoría: $ 9.0 millones

Gastos de marketing y adquisición de clientes

El gasto de marketing en 2022 fue de $ 34.6 millones.

Canal de marketing	Gastos
Marketing digital	$ 14.3 millones
Publicidad de medios tradicional	$ 12.5 millones
Patrocinios comunitarios	$ 7.8 millones

Cullen/Frost Bankers, Inc. (CFR) - Modelo de negocio: flujos de ingresos

Ingresos por intereses de préstamos y productos de crédito

A partir del cuarto trimestre de 2023, los banqueros de Cullen/Frost informaron ingresos por intereses netos de $ 1.03 mil millones. El desglose de la cartera de préstamos incluye:

Categoría de préstamo	Saldo pendiente total
Préstamos comerciales	$ 23.4 mil millones
Préstamos al consumo	$ 7.6 mil millones
Préstamos inmobiliarios	$ 19.2 mil millones

Tarifas de servicio bancario

Los ingresos por tarifas de servicio para 2023 totalizaron $ 322 millones, con el siguiente desglose:

• Tarifas de mantenimiento de la cuenta: $ 98 millones
• Tarifas de transacción de cajeros automáticos: $ 47 millones
• Tarifas de sobregiro: $ 76 millones
• Tasas de transferencia de cables: $ 39 millones

Tarifas de gestión de patrimonio y asesoramiento

Los ingresos de gestión de patrimonio para 2023 alcanzaron $ 215 millones, con activos bajo administración por un total de $ 44.3 mil millones.

Categoría de servicio	Ganancia
Planificación financiera	$ 82 millones
Aviso de inversión	$ 133 millones

Comisiones de productos de inversión

Los ingresos por la Comisión de Productos de Inversión para 2023 fueron de $ 187 millones, derivados de:

• Ventas de fondos mutuos: $ 92 millones
• Comisiones de corretaje: $ 65 millones
• Servicios de cuentas de jubilación: $ 30 millones

Tarifas de mantenimiento de transacción y cuenta

Las tarifas de transacción para 2023 totalizaron $ 156 millones, con la siguiente distribución:

Tipo de transacción	Ingresos por tarifas
Marcando transacciones de la cuenta	$ 68 millones
Transacciones de tarjetas de débito	$ 53 millones
Transacciones bancarias en línea	$ 35 millones

Cullen/Frost Bankers, Inc. (CFR) - Canvas Business Model: Value Propositions

You're looking at how Cullen/Frost Bankers, Inc. keeps its clients loyal in a competitive Texas market. The core value is a full-service offering wrapped in a very specific service model.

Comprehensive banking, investment, and insurance services bundle

Cullen/Frost Bankers, Inc. offers clients a complete suite of financial products across banking, investment management, and insurance, all operating under the Frost brand across Texas. This bundling is a key differentiator for clients wanting a single relationship manager for diverse needs. We see this reflected in the fee income growth, for example, trust and investment management fees grew by 9.3% in the third quarter of 2025. Also, service charges on deposit accounts saw a year-over-year increase of 14.7% in that same quarter.

The scale of the operation supporting this bundle is substantial, with average loans reaching $21.5 billion and average deposits at $42.1 billion as of September 30, 2025.

High-touch, personalized relationship banking model

The company's competitive edge rests on its commitment to relationship banking, which management explicitly links to its expansion strategy of extending the Frost experience to more customers. This model prioritizes personal interaction alongside digital tools. The focus is on delivering quality service that differentiates Cullen/Frost Bankers, Inc. from larger, more impersonal institutions.

Financial stability and safety (strong capital ratios, low credit loss expense of $6.8 million in Q3 2025)

Financial strength is a primary value proposition, giving customers confidence in the safety of their funds. The credit loss expense for the third quarter of 2025 was just $6.8 million, a significant drop from the $19.4 million recorded in the third quarter of 2024. The allowance for credit losses on loans remained steady at 1.31% of total loans at September 30, 2025.

Capitalization remains robust, comfortably exceeding regulatory requirements. Here are the specific ratios reported at the end of Q3 2025:

Capital Metric	Ratio (as of Sept 30, 2025)
Tier 1 Risk-Based Capital Ratio	14.59%
Total Risk-Based Capital Ratio	16.04%
Common Equity Tier 1 Risk-Based Capital Ratio	14.14%
Leverage Ratio	9.00%

Free checking accounts and minimal fees for consumers

Cullen/Frost Bankers, Inc. actively works to keep basic banking accessible and low-cost for consumers. The Frost Personal Account offers a 0 monthly service charge if you meet any one of several easy thresholds. You qualify if you meet any one of these conditions:

• Direct deposits, mobile deposits, or Zelle credits total $100 or more.
• Keep a minimum daily balance of $1,000.
• Maintain $5,000 combined average daily balances across personal deposit accounts.
• An owner on the account is under 25.

Furthermore, the bank provides a significant buffer against unexpected charges. Overdraft fees of $35 are waived if the overdraw amount is $100 or less under standard overdraft practices. The maximum daily fee is capped at $105.

Seamless integration of digital tools with personal service

The strategy emphasizes that digital tools are meant to complement, not replace, personal service. Management has stated a continued focus on enhancing digital banking tools while maintaining an empathetic customer experience. This is about giving you the convenience of modern technology-like early access to direct deposits up to two days sooner-while ensuring a human relationship is available when needed.

Cullen/Frost Bankers, Inc. (CFR) - Canvas Business Model: Customer Relationships

You're looking at how Cullen/Frost Bankers, Inc. keeps its customers close, especially when the bank itself has grown to hold $52.5 billion in assets as of December 31, 2024.

Dedicated, personal relationship management model

The focus on personal interaction remains a core tenet, even with expansion. For instance, in the first quarter of 2025, Frost commercial bankers made a record 54,000 calls, and nearly two-thirds of those calls were directed toward existing customers, showing a clear prioritization of current relationships over purely new acquisition efforts during that period. This approach supports the long-term view of the business.

High customer satisfaction ratings (e.g., J.D. Power recognition in Texas)

The dedication to service translates directly into measurable results. Frost Bank achieved the highest ranking for retail banking customer satisfaction in Texas for the 16th consecutive year in the J.D. Power 2025 U.S. Retail Banking Satisfaction Study℠. This sustained performance is a key indicator of relationship health.

Here's a quick look at the 2025 J.D. Power results:

Metric	Cullen/Frost Bankers, Inc. (Frost Bank)	Texas Region Average
Overall Satisfaction Index Score	745	Not Applicable (Score difference is key)
Points Above Region Average	68 points higher	N/A
Dimensions Ranked No. 1	Six out of seven	N/A

Long-term, trust-based relationships with commercial clients

The emphasis on deep client ties is evident in the activity reports. The bank stresses its commitment to building these relationships, which management noted was a driver for consistent organic growth, such as the 5.4% year-over-year growth in consumer checking households recorded in the third quarter of 2025.

The dimensions where Frost Bank ranked No. 1 in the 2025 J.D. Power study underscore the relationship focus:

• Trust
• People
• Account offerings
• Banking accessibility
• Saving time and money
• Digital channels

Proactive communication and empathetic customer experience

Management commentary from the third quarter of 2025 highlighted remaining laser-focused on delivering an empathetic customer experience alongside digital tools. This commitment is seen as fueling industry-leading organic growth. The bank's success in dimensions like People and Trust in the J.D. Power study directly reflects this proactive, empathetic approach.

Self-service options via digital channels

While personal service is key, digital adoption is strong and recognized. Frost Bank ranked No. 1 in the digital channels dimension in the 2025 J.D. Power study. This aligns with broader market trends where, as of 2025, a significant majority-77 percent-of consumers prefer to manage their bank accounts through a mobile app or a computer. The bank's digital offerings are clearly meeting this high expectation for self-service convenience.

Finance: draft 13-week cash view by Friday.

Cullen/Frost Bankers, Inc. (CFR) - Canvas Business Model: Channels

The Channels component for Cullen/Frost Bankers, Inc. centers on a deliberate, Texas-centric, multi-touchpoint approach, blending a significant physical footprint with targeted digital enhancements.

Physical branch locations in major Texas metropolitan areas

Cullen/Frost Bankers, Inc. maintains a substantial physical presence, actively expanding where other banks may be contracting. As of 2025, Frost has nearly 200 financial centers across key Texas markets. This physical network is strategically concentrated in high-growth areas, including the San Antonio, Austin, Corpus Christi, Dallas, Fort Worth, Houston, Permian Basin, and Rio Grande Valley regions. The expansion strategy is showing traction; for instance, in the third quarter of 2025, new branches in Houston, Dallas, and Austin contributed 38% of total loan growth and 39% of deposit growth. That's real money flowing through those newer doors.

The scale of the physical and digital reach can be summarized here:

Channel Metric	Value/Status (as of late 2025 data)
Total Financial Centers	Nearly 200
Total Assets (as of Sep 30, 2025)	$52.5 billion
Q3 2025 Average Deposits	$42.1 billion
Technology Expense Growth (YoY Q3 2025)	Up 9.0%

Digital banking platforms (mobile app and website)

The digital channel is a clear area of investment, reflecting a commitment to modern delivery alongside physical expansion. Chairman and CEO Phil Green highlighted the strategic focus on 'enhancing digital banking tools' during the third quarter of 2025 earnings call. This focus is supported by financial commitment, as non-interest expenses, which include technology and equipment costs, rose by 9.0% year-over-year in Q3 2025. The goal is to deliver top-quality digital banking tools along with an empathetic customer experience.

Dedicated commercial and wealth management relationship officers

The success in expansion markets points directly to the effectiveness of relationship-based selling, driven by dedicated officers. The organic expansion strategy is designed to build upon a well-established reputation, which requires high-touch service. The growth in consumer checking households in Q3 2025 was the strongest since early 2023, suggesting strong personal relationship acquisition. Furthermore, trust and investment management fees, often driven by dedicated wealth management officers, increased by 9.3% in Q3 2025.

Extensive ATM network

Cullen/Frost Bankers, Inc. supports its physical presence with a wide-reaching ATM footprint, which is noted as the largest in the state of Texas. While the most recent comprehensive number is from the end of 2022, at that time, Frost operated approximately 1,729 automated-teller machines (ATMs) throughout Texas. This network is supplemented by targeted local density, such as the over 140 ATMs in the Austin region alone as of 2023.

Brand visibility via sponsorships (e.g., Frost Bank Center naming rights)

High-profile sponsorships serve to cement the brand within the Texas consciousness, particularly in the San Antonio market. The arena where the San Antonio Spurs play is now the Frost Bank Center, a name change official in September 2023. While the specific terms of the current deal are undisclosed, the prior AT&T naming rights deal was reportedly worth $41 million over 20 years. The team's lease for the facility extends through 2032, anchoring this visibility for the foreseeable future. The bank's relationship with the Spurs dates back 50 years, highlighting a deep, long-term commitment to community presence.

• Frost Bank earned the highest ranking in customer satisfaction in Texas in the J.D. Power Retail Banking Satisfaction Study℠ for 16 consecutive years as of 2025.
• As of Q3 2025, Cullen/Frost Bankers, Inc. had a Common Equity Tier 1 Ratio of 14.14 percent, exceeding well-capitalized levels.
• The company reported a quarterly dividend of $1.00 per common share in Q3 2025.

Cullen/Frost Bankers, Inc. (CFR) - Canvas Business Model: Customer Segments

You're looking at the core client base for Cullen/Frost Bankers, Inc. (CFR) as of late 2025. This bank is definitely focused on its Texas footprint, using its deep local knowledge to serve a spectrum of clients, from the largest corporations down to individual consumers.

The primary customer base is anchored in the Texas economy, serving businesses across its key regions like Houston, Dallas, Fort Worth, Austin, and the Permian Basin. As of September 30, 2025, Cullen/Frost Bankers, Inc. reported total assets of $52.5 billion.

The segments are clearly delineated by the services they require:

• Commercial Businesses: Middle-market and small businesses in Texas needing financing for working capital, equipment, and acquisitions, supported by treasury management services.
• Affluent and High-Net-Worth Individuals: Clients utilizing wealth and trust management services. Trust and investment management fees showed growth, increasing 9.8% year-over-year in the first quarter of 2025.
• Mass-Market Consumers: Individuals and families across Texas. The organic expansion strategy is successfully attracting new retail customers, with CEO Phil Green noting a record growth in consumer checking households in the third quarter of 2025.
• Commercial Real Estate (CRE) Developers and Investors: Entities requiring financing for income-producing properties. At March 31, 2025, the combined commercial real estate and multi-family real estate mortgage loan portfolios totaled $592.2 million and $91.5 million, respectively.
• Institutional Investors and Public Entities: These clients are served by one of the 50 largest U.S. banks, relying on the bank's overall scale and capital strength.

The bank's aggressive expansion strategy is a key driver for acquiring new customers across the board. By the end of the second quarter of 2025, these expansion efforts alone had generated almost 69,000 new households. This focus on new customer acquisition is a major theme for Cullen/Frost Bankers, Inc.

For the Commercial Real Estate segment specifically, the portfolio composition shows a clear preference for stabilized assets over pure development risk as of early 2025:

CRE Loan Portfolio Detail (As of March 31, 2025)	Amount	Percentage of Total Loans
Commercial Real Estate Loans (Total)	$592.2 million	55.7%
Multi-family Real Estate Loans	$91.5 million	8.6%
CRE Loans: Owner Occupied	N/A	23.8%
CRE Loans: Non-Owner Occupied	N/A	76.2%

The mass-market consumer segment is showing tangible results from the expansion, which is critical for deposit growth. For context, average deposits for the entire institution stood at $41.8 billion in the second quarter of 2025. The success in attracting new checking accounts is a direct input to this larger deposit base.

Here's a snapshot of the scale and performance metrics relevant to serving these segments in mid-2025:

Key Financial Metric (Latest Reported Period)	Value	Period
Total Assets	$52.5 billion	September 30, 2025
Average Loans	$21.1 billion	Q2 2025
Net Interest Margin (NIM)	3.7%	Q3 2025
Net Income	$172.7 million	Q3 2025
Return on Average Assets (ROAA)	1.22%	Q2 2025
Nonperforming Assets (NPA)	$47 million	Q3 2025

The focus on new commercial relationships is also paying off, as the bank saw increased commercial activity and a high level of new commercial relationships contributing to loan growth. Finance: draft 13-week cash view by Friday.

Cullen/Frost Bankers, Inc. (CFR) - Canvas Business Model: Cost Structure

You're looking at the core expenses driving Cullen/Frost Bankers, Inc.'s operations as of late 2025. These are the necessary outflows to keep the lights on and the growth engine running, so let's look at the hard numbers from the latest reports.

Interest expense on deposits and borrowings (cost of funds) is a major component, though the total dollar amount for Q3 2025 wasn't explicitly isolated in the latest releases. We do know the cost of interest-bearing accounts in the second quarter of 2025 was reported at 1.93%. This cost structure directly impacts the Net Interest Income (NII), which for the third quarter of 2025 totaled $463.7 million on a taxable-equivalent basis.

The non-interest expenses for the third quarter of 2025 hit $352.5 million, which was an increase of 9.0 percent compared to the third quarter of 2024's $323.4 million. A significant driver within this total is personnel costs, which you asked about specifically.

• Salaries and wages expense increased by $12.5 million, or 8.0 percent, compared to the third quarter of 2024.
• Employee benefits expense increased by $5.4 million, or 18.6 percent, compared to the third quarter of 2024.

The bank is making concrete investments in its digital future, which shows up in the technology line item.

Expense Category Component	Q3 2025 Increase vs. Q3 2024
Technology, furniture, and equipment expense	$5.7 million increase (15.1 percent)
Cloud services expense (within Tech)	Up $3.5 million
Software maintenance (within Tech)	Up $1.9 million

The costs associated with organic expansion are being tracked by management, with the increase in the number of employees partly attributed to this investment. While a specific total cost for build-outs isn't broken out, the results are starting to show in the earnings accretion figures. The first Houston expansion branches are now profitable, while the newest Austin branches remain loss-making. For the third quarter of 2025, the expansion branches contributed $0.09 per share in EPS accretion.

Finally, the Provision for credit losses, which is the expense set aside for expected loan losses, was $6.8 million for the third quarter of 2025. This was a significant decrease from the $13.1 million reported in the second quarter of 2025.

Finance: draft 13-week cash view by Friday.

Cullen/Frost Bankers, Inc. (CFR) - Canvas Business Model: Revenue Streams

The revenue streams for Cullen/Frost Bankers, Inc. (CFR) are fundamentally anchored in traditional banking activities, supplemented by significant fee-based services across its wealth management and insurance segments. As of the third quarter of 2025, the core engine remains the spread between what the bank earns on its assets and what it pays on its liabilities.

Net Interest Income (NII), derived from loans and securities, was reported at $463.7 million on a taxable-equivalent basis for Q3 2025. This figure represented a 9.1 percent increase compared to the third quarter of 2024. Historically, NII has comprised the largest portion of total revenue, making up approximately 76.3% of total revenue over the last five years.

Non-interest income, which is fee-based revenue, totaled $125.6 million in Q3 2025, marking a 10.5 percent increase year-over-year. This segment is detailed below, showing growth across several key service lines.

You can see the key Q3 2025 figures and relevant context in the table below:

Revenue Stream Component	Q3 2025 Amount (Millions USD)	Year-over-Year Change (vs Q3 2024)
Net Interest Income (NII)	$463.7	+9.1%
Total Non-interest Income	$125.6	+10.5%
Trust and Investment Management Fees	$44.8	+9.3%
Service Charges on Deposit Accounts (Calculated Base)	Approx. $31.21	+14.7% (Increase of $4.0 million)
Other Charges, Commissions, and Fees (Segment Total)	Approx. $14.98	+12.8% (Increase of $1.7 million)

The growth in fee-based revenue is supported by specific activities within the wealth management and service charge areas. Trust and investment management fees reached $44.8 million in Q3 2025. The increase of $3.8 million year-over-year was primarily driven by two factors:

• Investment management fees (up $2.9 million)
• Estate fees (up $634,000)

Service charges on deposit accounts saw a substantial year-over-year increase of 14.7 percent, which translated to an additional $4.0 million in revenue compared to Q3 2024. This growth was fueled by increases in both commercial and consumer fee lines.

The category encompassing commercial leasing and insurance commissions falls within the broader Other Charges, Commissions, and Fees segment, which grew by 12.8 percent, or $1.7 million. Within this segment, specific contributions noted include:

• Income from the placement of annuities (up $470,000)
• Letter of credit fees (up $441,000)
• Income from the placement of mutual funds (up $301,000)

Insurance commissions and fees specifically showed a 3.9% increase on a linked-quarter basis (QoQ). While the exact Q3 2025 dollar amount for insurance commissions and fees is not explicitly isolated from the remaining components of the Other Charges, Commissions, and Fees line item, the overall segment growth reflects positive momentum in these ancillary services, which are aligned with the organic expansion strategy.