Growth
Over the years, Frost has grown both organically and through the acquisition of other banks, beginning in 1928 with the purchase of Lockwood National Bank.[2] In 1977, the company merged with Cullen Bankers, Inc. of Houston forming Cullen/Frost Bankers, Inc. and its stock began trading on the NASDAQ.[2]
In 1982, Cullen/Frost Bankers and United States National Bancshares, Inc. (USNB) of Galveston, Texas merged, but Frost operated USNB separately for nearly two decades.[4] As new financial services legislation allowed banks to broaden the services they offered customers, Cullen/Frost folded the USNB charter into Frost's in 2000.[5] With this action, the last bank using the federally forbidden United States National Bank title ceased to exist.[6][7]
In 1983, the bank announced it intended to merge with First City Bancorp of Houston, Texas,[8] however the merger was never completed. First City was subsequently rescued by the FDIC in 1988 and ultimately bankrupted in 1992 and was absorbed by other banks, primarily Texas Commerce Bank (now Chase).
In 1999, Frost Bank acquired Commerce Financial Corp.[9] and Frost Insurance Agency, a subsidiary of the bank acquired Professional Insurance Agents Inc.[10]
In 2005-2006, the company acquired Alamo Bank of Texas, Horizon Capital Bank, Summit Bancshares Inc., and Texas Community Bank.[11][12] In 2014, it acquired Western National Bank.[13]
