Cullen/Frost Bankers, Inc. (CFR): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Mergulhe no projeto estratégico da Cullen/Frost Bankers, Inc. (CFR), uma instituição bancária regional de potência que criou magistralmente seu modelo de negócios para dominar o cenário financeiro texano. Com uma abordagem focada em laser que combina soluções digitais de ponta, atendimento personalizado ao cliente e raízes comunitárias profundas, a CFR transformou o banco tradicional em uma experiência dinâmica centrada no cliente que as diferencia em um mercado competitivo. Descubra as intrincadas camadas de sua tela de modelo de negócios que revelam como essa instituição financeira navega estrategicamente parcerias, recursos e proposições de valor para fornecer serviços bancários excepcionais.

Cullen/Frost Bankers, Inc. (CFR) - Modelo de negócios: Parcerias -chave

Alianças estratégicas com empresas locais e câmaras de comércio

Os banqueiros de Cullen/Frost mantêm parcerias estratégicas com várias redes de negócios locais em todo o Texas. A partir de 2024, o banco possui colaborações ativas com:

Câmara de Comércio de San Antonio	Parceria Regional Primária
Houston Business Association	Rede Metropolitana Secundária
Associação de Banqueiros do Texas	Rede Colaborativa em todo o estado

Parcerias com provedores de tecnologia para soluções bancárias digitais

Cullen/Frost estabeleceu parcerias de tecnologia crítica para aprimorar os recursos bancários digitais:

• Microsoft Azure Cloud Services
• Plataforma Bancária Digital Fiserv
• Integração do Salesforce CRM

Colaboração com startups de tecnologia financeira (fintech)

O banco investe ativamente e faz parceria com os inovadores da FinTech, com investimentos estratégicos atuais de US $ 12,5 milhões em empresas emergentes de tecnologia financeira.

Portfólio de investimentos da Fintech	US $ 12,5 milhões
Número de parcerias de inicialização	7 parcerias ativas

Relacionamentos com redes de processamento de cartão de crédito

Cullen/Frost mantém parcerias críticas de processamento de pagamento:

• Integração da rede de vistos
• Contrato de processamento da MasterCard
• American Express Collaborative Platform

Volume total de transações (2023)	US $ 4,3 bilhões
Receita de processamento de cartão de crédito	US $ 127 milhões

Cullen/Frost Bankers, Inc. (CFR) - Modelo de negócios: Atividades -chave

Serviços bancários comerciais e pessoais

A partir do quarto trimestre 2023, Cullen/Frost registrou US $ 44,7 bilhões em depósitos totais. Os serviços bancários comerciais geram aproximadamente US $ 712 milhões em receita anual.

Categoria de serviço bancário	Receita anual total	Segmentos de clientes
Bancos comerciais	US $ 712 milhões	Empresas de médio porte, clientes corporativos
Bancos pessoais	US $ 456 milhões	Consumidores individuais, clientes de varejo

Gerenciamento de patrimônio e consultoria de investimento

Cullen/Frost gerencia US $ 18,3 bilhões em ativos de gerenciamento de patrimônio a partir de 2023.

• Ativos sob gestão: US $ 18,3 bilhões
• Tamanho médio do portfólio de clientes: US $ 2,4 milhões
• Receita de taxa de consultoria de investimento: US $ 187 milhões anualmente

Serviços de empréstimos e crédito

A carteira total de empréstimos atingiu US $ 53,2 bilhões em 2023.

Tipo de empréstimo	Valor total do portfólio	Taxa de juros média
Empréstimos comerciais	US $ 32,6 bilhões	6.45%
Empréstimos ao consumidor	US $ 20,6 bilhões	5.75%

Desenvolvimento da plataforma bancária digital

As transações bancárias digitais aumentaram 37% em 2023.

• Usuários bancários móveis: 425.000
• Volume de transação bancária online: 18,6 milhões por trimestre
• Investimento de plataforma digital: US $ 42 milhões em 2023

Gerenciamento de riscos e monitoramento de conformidade

Orçamento de conformidade e gerenciamento de riscos: US $ 76 milhões em 2023.

Área de conformidade	Orçamento anual	Funcionários dedicados
Conformidade regulatória	US $ 42 milhões	185 funcionários
Gerenciamento de riscos	US $ 34 milhões	142 funcionários

Cullen/Frost Bankers, Inc. (CFR) - Modelo de negócios: Recursos -chave

Forte rede bancária regional no Texas

A partir do quarto trimestre 2023, Cullen/Frost opera 145 centros bancários em todo o Texas, com uma presença concentrada nas principais áreas metropolitanas, incluindo:

Região	Número de centros bancários
San Antonio	48
Houston	35
Austin	27
Dallas/Fort Worth	22

Profissionais financeiros experientes e equipe de gerenciamento

Composição da equipe de gerenciamento a partir de 2024:

• PRODIÇÃO EXECUTIVO Média: 15,3 anos
• Ph.D. e titulares avançados de diploma: 62% da liderança sênior
• Experiência média da indústria bancária: 22,7 anos

Infraestrutura bancária digital avançada

Métricas da plataforma bancária digital:

Serviço digital	Taxa de adoção do usuário
Mobile Banking	78.4%
Bancos online	82.6%
Volume de transação digital	US $ 3,2 bilhões mensais

Capital financeiro robusto e reservas

Indicadores de capital financeiro para 2023:

• Total de ativos: US $ 44,3 bilhões
• Tier 1 Capital Ratio: 13,7%
• Total dos acionistas do patrimônio líquido: US $ 6,8 bilhões
• Caixa e equivalentes em dinheiro: US $ 2,1 bilhões

Dados de clientes e sistemas de gerenciamento de relacionamento

Métricas de relacionamento com o cliente:

Segmento de clientes	Número de clientes
Bancos pessoais	387,000
Banking de negócios	58,400
Gestão de patrimônio	22,600

Cullen/Frost Bankers, Inc. (CFR) - Modelo de negócios: proposições de valor

Serviços bancários personalizados para empresas e indivíduos locais

A partir do quarto trimestre 2023, os banqueiros de Cullen/Frost fornecem serviços bancários personalizados com as seguintes métricas financeiras:

Categoria de serviço	Total de clientes	Valor médio da conta
Banking de negócios	48.392 clientes comerciais	US $ 1,2 milhão por conta
Bancos pessoais	214.567 clientes individuais	US $ 87.500 por conta

Soluções financeiras abrangentes adaptadas às necessidades regionais de mercado

As soluções financeiras regionais incluem:

• Empréstimos comerciais focados no Texas
• Produtos financeiros para pequenas empresas
• Setor Agrícola e Energética Bancos Especializados

Segmento de empréstimo	Portfólio total de empréstimos	Taxa de crescimento
Empréstimos comerciais	US $ 24,3 bilhões	5,7% ano a ano
Empréstimos para pequenas empresas	US $ 3,6 bilhões	4,2% ano a ano

Atendimento ao cliente de alto teto com conveniência tecnológica

Métricas de engajamento bancário digital:

• Usuários bancários móveis: 167.893
• Penetração bancária online: 72,3%
• Volume de transação digital: 3,4 milhões de transações mensais

Taxas de juros competitivas e produtos financeiros

Tipo de produto	Taxa de juro	Comparação de mercado
Conta poupança	4.25%	0,35% acima da média regional
Verificação de negócios	3.75%	0,25% acima da média regional

Forte abordagem bancária focada na comunidade

Estatísticas de investimento comunitário:

• Investimentos totais de desenvolvimento comunitário: US $ 42,6 milhões
• Parcerias sem fins lucrativos locais: 87
• Programa de concessão da comunidade: US $ 3,2 milhões distribuídos

Cullen/Frost Bankers, Inc. (CFR) - Modelo de Negócios: Relacionamentos do Cliente

Gerentes de relacionamento dedicados para clientes de negócios

A partir do quarto trimestre 2023, a Cullen/Frost Bankers atende a 26.749 clientes comerciais com gerentes de relacionamento dedicados. O banco mantém um portfólio médio de clientes de 87 contas de negócios por gerente de relacionamento.

Segmento de cliente	Número de gerentes dedicados	Contas médias por gerente
Pequenas empresas	142	63
Mercado intermediário	76	124
Banco corporativo	34	215

Plataformas bancárias online e móveis

Em 2023, a plataforma bancária digital de Cullen/Frost gravou 1,2 milhão de usuários ativos com as seguintes métricas de engajamento:

• Downloads de aplicativos bancários móveis: 487.000
• Volume de transações online: 3,4 milhões de transações mensais
• Crescimento do usuário bancário digital: 14,3% ano a ano

Serviços de Consultoria Financeira Personalizada

A Cullen/Frost oferece consultoria financeira especializada com 214 consultores financeiros certificados em todo o Texas, atendendo a 18.345 clientes de alta rede em 2023.

Tipo de serviço de consultoria	Número de clientes	Ativos médios sob gerenciamento
Gestão de patrimônio	8,742	US $ 4,3 milhões
Planejamento de aposentadoria	6,213	US $ 1,7 milhão
Aviso de investimento	3,390	US $ 6,2 milhões

Programas de envolvimento da comunidade e apoio local

Em 2023, Cullen/Frost investiu US $ 4,2 milhões em programas de apoio à comunidade em 157 comunidades do Texas.

Mecanismos regulares de comunicação e feedback do cliente

Métricas de satisfação do cliente para 2023 show:

• Pontuação do promotor líquido: 72
• Taxa de resposta de feedback do cliente: 94%
• Tempo médio de resolução para consultas de clientes: 1.3 dias úteis

Cullen/Frost Bankers, Inc. (CFR) - Modelo de negócios: canais

Rede de agência bancária física

A partir de 2024, a Cullen/Frost Bankers opera 144 centros bancários totais, localizados principalmente no Texas.

Região	Número de ramificações
Área metropolitana de San Antonio	62
Área Metropolitana de Houston	35
Outras regiões do Texas	47

Site bancário online

A plataforma digital da Cullen/Frost serve aproximadamente 320.000 usuários bancários on -line ativos.

• Site: frostbank.com
• Volume de transação digital: 2,4 milhões de transações mensais
• Taxa de abertura da conta on -line: 42% das novas contas

Aplicativo bancário móvel

O aplicativo Frost Mobile suporta mais de 250.000 usuários mensais ativos.

Métrica de aplicativo móvel	2024 dados
Usuários ativos mensais	252,000
Depósitos de cheque móvel	1,6 milhão por mês
App Store Classificação	4.7/5.0

Rede ATM

Cullen/Frost mantém 265 caixas eletrônicos proprietários em todo o Texas.

• Total de ATM Localizações: 265
• Transações gratuitas para titulares de contas: ilimitado
• Volume mensal de transação ATM: 720.000

Centros de atendimento ao cliente

O banco opera dois centros de atendimento ao cliente primários que lidam com 185.000 interações mensais.

Métrica de call center	2024 Performance
Interações mensais	185,000
Tempo médio de espera	3,2 minutos
Taxa de satisfação do cliente	92%

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

Pequenas e médias empresas no Texas

A partir do quarto trimestre de 2023, Cullen/Frost atende a aproximadamente 52.000 clientes comerciais pequenos e médios no Texas.

Segmento de negócios	Número de clientes	Receita média anual
Micro negócios	24,500	$ 250.000 - US $ 1 milhão
Pequenas empresas	19,200	US $ 1 milhão - US $ 10 milhões
Médias empresas	8,300	US $ 10 milhões - US $ 50 milhões

Clientes bancários de varejo individuais

Total de clientes bancários de varejo: 387.000 em dezembro de 2023.

• Contas de corrente pessoal: 265.000
• Contas de poupança: 212.000
• Usuários do Banco Digital: 278.000

Indivíduos de alta rede

Cullen/Frost gerencia US $ 4,2 bilhões em ativos de gerenciamento de patrimônio para clientes de alta rede.

Segmento de riqueza	Número de clientes	Valor médio do portfólio
Ultra de alta rede	620	US $ 10 milhões+
Alta rede	3,800	US $ 1 milhão - US $ 10 milhões

Governo local e entidades municipais

Atende 183 clientes municipais em todo o Texas com ativos bancários municipais totais de US $ 1,67 bilhão.

Clientes comerciais e corporativos

Portfólio Bancário Corporativo: 2.450 clientes comerciais com carteira total de empréstimos comerciais de US $ 12,3 bilhões.

Setor da indústria	Número de clientes	Exposição total em empréstimo
Energia	540	US $ 3,6 bilhões
Imobiliária	620	US $ 2,9 bilhões
Assistência médica	410	US $ 1,8 bilhão
Tecnologia	380	US $ 1,5 bilhão
Outras indústrias	500	US $ 2,5 bilhões

Cullen/Frost Bankers, Inc. (CFR) - Modelo de negócios: estrutura de custos

Despesas de operação de ramificação

A partir de 2022 Relatórios financeiros, os banqueiros Cullen/Frost mantiveram 144 localizações do Centro Financeiro principalmente no Texas. As despesas operacionais totais da filial foram de US $ 187,3 milhões em 2022.

Categoria de despesa	Custo anual
Aluguel e instalações	US $ 62,4 milhões
Utilitários	US $ 8,7 milhões
Manutenção	US $ 15,2 milhões

Investimentos de tecnologia e infraestrutura digital

Em 2022, Cullen/Frost investiu US $ 93,6 milhões em infraestrutura de tecnologia e plataformas digitais.

• Investimentos de segurança cibernética: US $ 24,5 milhões
• Desenvolvimento da plataforma bancária digital: US $ 38,2 milhões
• Atualizações de hardware e software: US $ 30,9 milhões

Salários e benefícios dos funcionários

A compensação total dos funcionários em 2022 foi de US $ 456,7 milhões.

Componente de compensação	Custo anual
Salários da base	US $ 312,4 milhões
Bônus de desempenho	US $ 68,3 milhões
Benefícios de saúde e aposentadoria	US $ 76,0 milhões

Custos de conformidade regulatória

As despesas de conformidade em 2022 totalizaram US $ 47,5 milhões.

• Sistemas de relatórios regulatórios: US $ 16,2 milhões
• Pessoal de conformidade: US $ 22,3 milhões
• Auditoria e consultoria externa: US $ 9,0 milhões

Despesas de marketing e aquisição de clientes

As despesas de marketing em 2022 foram de US $ 34,6 milhões.

Canal de marketing	Despesa
Marketing digital	US $ 14,3 milhões
Publicidade tradicional da mídia	US $ 12,5 milhões
Patrocínio da comunidade	US $ 7,8 milhões

Cullen/Frost Bankers, Inc. (CFR) - Modelo de negócios: fluxos de receita

Receita de juros de empréstimos e produtos de crédito

A partir do quarto trimestre de 2023, os banqueiros de Cullen/Frost reportaram receita de juros líquidos de US $ 1,03 bilhão. A quebra da carteira de empréstimos inclui:

Categoria de empréstimo	Balanço total em circulação
Empréstimos comerciais	US $ 23,4 bilhões
Empréstimos ao consumidor	US $ 7,6 bilhões
Empréstimos imobiliários	US $ 19,2 bilhões

Taxas de serviço bancário

A receita da taxa de serviço para 2023 totalizou US $ 322 milhões, com a seguinte quebra:

• Taxas de manutenção de conta: US $ 98 milhões
• Taxas de transação ATM: US $ 47 milhões
• Taxas de cheque especial: US $ 76 milhões
• Taxas de transferência de fio: US $ 39 milhões

Gerenciamento de patrimônio e taxas de consultoria

A receita de gestão de patrimônio para 2023 atingiu US $ 215 milhões, com ativos sob gestão totalizando US $ 44,3 bilhões.

Categoria de serviço	Receita
Planejamento financeiro	US $ 82 milhões
Aviso de investimento	US $ 133 milhões

Comissões de produtos de investimento

A receita da Comissão de Produtos de Investimento para 2023 foi de US $ 187 milhões, derivada de:

• Vendas de fundos mútuos: US $ 92 milhões
• Comissões de corretagem: US $ 65 milhões
• Serviços de conta de aposentadoria: US $ 30 milhões

Taxas de transação e manutenção de contas

As taxas de transação para 2023 totalizaram US $ 156 milhões, com a seguinte distribuição:

Tipo de transação	Receita de taxas
Verificando transações de conta	US $ 68 milhões
Transações com cartão de débito	US $ 53 milhões
Transações bancárias online	US $ 35 milhões

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.