Cullen Frost Bankers Inc SEC Filings

Cullen/Frost Bankers (CFR) Chairman and CEO Phillip D. Green reported an equity award vest and related tax withholding. On 10/25/2025, 11,097 shares of common stock were acquired at $0 following the vesting of restricted stock units (Code M). To cover taxes, 4,366 shares were withheld at $124.86 (Code F). Following these transactions, he directly owned 108,188 common shares.

Indirect holdings were also reported: 370.206 shares through a 401(k) plan, 38,865 shares held in trusts for children, and 1,100 shares by spouse. The reported RSU grant cliff vested three years from the 10/25/2022 grant date.

Cullen/Frost Bankers (CFR) reported an insider transaction by its GEVP & Chief Financial Officer on 10/25/2025. Restricted stock units converted into 1,049 shares of common stock at $0 (code M), followed by withholding of 255 shares at $124.86 for taxes (code F).

After these transactions, the officer directly holds 3,158 shares, plus 7,702.621 shares held indirectly through a 401(k) plan. The RSU award shown in Table II converted into common stock, leaving 0 derivative securities outstanding.

Cullen/Frost Bankers, Inc. reported an insider equity transaction. On 10/25/2025, the company’s President executed a restricted stock unit vesting and related share withholding. A total of 2,796 RSUs converted to common stock (transaction code M) at $0. To cover taxes, 1,100 shares were disposed of at $124.86 (code F).

Following these transactions, direct beneficial ownership was 106,964 common shares. In addition, 50,916.769 shares were held indirectly through a 401(k) plan. The RSUs represented one share per unit and cliff vested three years from the 10/25/2022 grant date.

Cullen/Frost Bankers (CFR) reported an insider equity change by its GEVP Research & Strategy. On 10/25/2025, 1,573 shares of common stock were acquired upon the vesting of restricted stock units (transaction code M) at a price of $0, reflecting settlement of RSUs granted on 10/25/2022.

The filing also shows 616 shares were withheld (code F) at $124.86 to cover taxes. Following these transactions, direct holdings stand at 29,240 shares. In addition, 18,902.66 shares are held indirectly through a 401(k) plan.

Cullen/Frost Bankers, Inc. (CFR) — insider ownership update. A company officer reported the vesting and settlement of 1,992 restricted stock units into common stock on 10/25/2025 (Code M) at a stated price of $0, consistent with RSU settlement mechanics.

To cover taxes, 783 shares were withheld on the same date at $124.86 per share (Code F). Following these transactions, the officer directly owned 19,049 common shares. In addition, the filing lists 15,634.163 shares held indirectly through a 401(k) Plan. The RSUs cliff vested three years from the 10/25/2022 grant date, with each unit representing one share.

Cullen/Frost Bankers, Inc. (CFR) furnished an investor presentation dated June 30, 2025 and posted it on its investor website at https://investor.frostbank.com. The company filed this Current Report to furnish Exhibit 99.1 (the slide presentation) and included standard forward-looking statements language, noting it does not undertake an obligation to update those statements and referring readers to its most recent annual report filed on February 6, 2025 for risk factors. The filing clarifies the furnished exhibit is not deemed "filed" under the Exchange Act and includes an electronic signature by Matthew B. Henson, EVP and Chief Accounting Officer.

Cullen/Frost Bankers insider sale: Carol J. Severyn, GEVP and Chief Risk Officer, sold 1,000 shares of Cullen/Frost common stock on 08/22/2025 for $0 reported price and now beneficially owns 11,101 shares directly plus 9,201 shares indirectly through a 401(k) plan. The Form 4 was signed under power of attorney on 08/25/2025.

Aristotle Capital Management, LLC reports beneficial ownership of 5,598,812 shares of Cullen/Frost Bankers common stock, representing 8.7% of the class. Aristotle is organized in California and is classified as an investment adviser (IA). The filing shows Aristotle holds sole voting and sole dispositive power for all 5,598,812 shares. Those shares are owned by various investment advisory clients, and Aristotle is deemed a beneficial owner because it has discretionary authority to vote or dispose of the shares on their behalf. The filer certifies the holdings are maintained in the ordinary course of business and not for the purpose of changing or influencing control.

Cullen/Frost Bankers (CFR) posted solid YoY earnings growth for Q2-25. Net income rose 7.9% to $157.0 mm, driving diluted EPS to $2.39 versus $2.21. Net interest income advanced 8.3% to $429.6 mm as interest expense fell 13.6% to $172.4 mm, offsetting modest loan growth (+2.4% since 12-24 to $21.25 bn) and a 12 bp increase in the credit-loss provision to $13.1 mm. Non-interest income improved 5.5% to $117.3 mm on higher trust, service-charge and insurance fees.

Balance-sheet trends were mixed. Total assets slipped 2.1% since year-end to $51.4 bn, driven by a $3.1 bn draw-down in cash and deposits as excess liquidity was redeployed into AFS securities (+$1.6 bn). Deposits declined 2.4% to $41.68 bn, while repurchase agreements edged up to $4.42 bn. Shareholders’ equity strengthened 7.8% to $4.20 bn as retained earnings grew and AOCI improved by $111.5 mm; nonetheless, unrealized losses on AFS securities remain sizeable at $1.45 bn. The allowance for credit losses on loans stands at 1.31% of loans ($277.8 mm).

Operating efficiency tightened. Non-interest expense increased 9.5% YoY to $347.1 mm, led by wage, technology and benefit costs, pressuring the expense ratio. YTD cash flow was negative $3.1 bn, reflecting heavy securities purchases ($8.3 bn) and a $1.0 bn deposit outflow, partly funded by sale maturities and repo growth. CFR paid $1.00/sh common dividend in Q2 and $1.95/sh YTD, plus $3.3 mm preferred dividends.