Frost Bank is an American bank based in San Antonio that is chartered in Texas , with 155 branches and 1,700 automated teller machines in the state. It is the primary subsidiary of Cullen/Frost Bankers, Inc., a bank holding company . It is one of the 60 largest banks of the country by total assets.
8-664: Frost Bank was founded in 1868 as a mercantile partnership in San Antonio by Thomas Claiborne Frost, who had served as a lieutenant colonel in the Confederate States Army . In February 1899, it was chartered as a national banking association. That year, the bank also reached $ 1 million in deposits (worth about $ 35 million in 2022 dollars). The bank survived the Panic of 1907 with the aid of an association of local banks and by 1921, sold shares to outside investors for
16-486: A subsidiary of the bank acquired Professional Insurance Agents Inc. In 2005-2006, the company acquired Alamo Bank of Texas, Horizon Capital Bank, Summit Bancshares Inc., and Texas Community Bank. In 2014, it acquired Western National Bank . During the financial crisis of 2007–2008 , the bank did not accept government assistance via the Troubled Asset Relief Program , but faced with changes in
24-539: The armies , most marine forces and some air forces of the world, above a major and below a colonel . Several police forces in the United States use the rank of lieutenant colonel . The rank of lieutenant colonel is often shortened to simply "colonel" in conversation and in unofficial correspondence. Sometimes, the term 'half-colonel' is used in casual conversation in the British Army. Additionally, in
32-530: The U.S. Army 'light colonel' has been used informally in the past. In the British military, it is customary to refer to either a Lieutenant Colonel or a Colonel by their first names when mentioning them, e.g "Colonel Tim will be at the parade". In the United States Air Force, the term 'light bird' or 'light bird colonel' (as opposed to a 'full bird colonel') is an acceptable casual reference to
40-642: The USNB charter into Frost's in 2000. With this action, the last bank using the federally forbidden United States National Bank title ceased to exist. In 1983, the bank announced it intended to merge with First City Bancorp of Houston, Texas, 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. and Frost Insurance Agency,
48-481: The company merged with Cullen Bankers, Inc. of Houston forming Cullen/Frost Bankers, Inc. and its stock began trading on the NASDAQ . 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. As new financial services legislation allowed banks to broaden the services they offered customers, Cullen/Frost folded
56-545: The financial services industry, the bank converted its 113-year-old federal charter into a state charter in June 2012. See also: List of museums in Central Texas Lieutenant colonel Lieutenant colonel ( UK : / l ɛ f ˈ t ɛ n ən t ˈ k ɜːr n əl / lef- TEN -ənt KUR -nəl , US : / l uː ˈ t ɛ n -/ loo- TEN - ) is a rank of commissioned officers in
64-514: The first time. Frost continued to grow with the construction of a 12-story building in 1921, which was the tallest building in Texas at the time. By 1926, Joseph Hardin Frost, brother of T.C. Frost Jr., took over as president of the company. 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. In 1977,
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