Operating Segments (Tables)

12 Months Ended

Dec. 31, 2020

Financial results by operating segment are detailed below. Certain prior period amounts have been reclassified to conform to the current presentation. Frost Wealth Advisors excludes off-balance-sheet managed and custody assets with a total fair value of $38.6 billion, $37.8 billion and $33.3 billion at December 31, 2020, 2019 and 2018.


	Banking		Frost Wealth Advisors		Non-Banks		Consolidated
2020
Net interest income (expense)	$	981,441	$	2,776	$	(8,216)	$	976,001
Credit loss expense	241,230		—		—		241,230
Non-interest income	321,136		145,268		(950)		465,454
Non-interest expense	718,519		123,630		6,755		848,904
Income (loss) before income taxes	342,828		24,414		(15,921)		351,321
Income tax expense (benefit)	20,347		5,127		(5,304)		20,170
Net income (loss)	322,481		19,287		(10,617)		331,151
Preferred stock dividends	—		—		2,016		2,016
Redemption of preferred stock	—		—		5,514		5,514
Net income (loss) available to common shareholders	$	322,481	$	19,287	$	(18,147)	$	323,621
Revenues from (expenses to) external customers	$	1,302,577	$	148,044	$	(9,166)	$	1,441,455
Average assets (in millions)	$	37,892	$	59	$	10	$	37,961


	Banking		Frost Wealth Advisors		Non-Banks		Consolidated
2019
Net interest income (expense)	$	1,010,368	$	4,001	$	(10,364)	$	1,004,005
Credit loss expense	33,758		1		—		33,759
Non-interest income	218,447		145,905		(450)		363,902
Non-interest expense	703,121		124,622		6,936		834,679
Income (loss) before income taxes	491,936		25,283		(17,750)		499,469
Income tax expense (benefit)	55,520		5,308		(4,958)		55,870
Net income (loss)	436,416		19,975		(12,792)		443,599
Preferred stock dividends	—		—		8,063		8,063
Net income (loss) available to common shareholders	$	436,416	$	19,975	$	(20,855)	$	435,536
Revenues from (expenses to) external customers	$	1,228,815	$	149,906	$	(10,814)	$	1,367,907
Average assets (in millions)	$	32,019	$	56	$	11	$	32,086
2018
Net interest income (expense)	$	963,757	$	4,083	$	(9,948)	$	957,892
Credit loss expense	21,685		—		—		21,685
Non-interest income	213,763		138,045		(522)		351,286
Non-interest expense	657,376		114,166		7,270		778,812
Income (loss) before income taxes	498,459		27,962		(17,740)		508,681
Income tax expense (benefit)	52,928		5,872		(5,037)		53,763
Net income (loss)	445,531		22,090		(12,703)		454,918
Preferred stock dividends	—		—		8,063		8,063
Net income (loss) available to common shareholders	$	445,531	$	22,090	$	(20,766)	$	446,855
Revenues from (expenses to) external customers	$	1,177,520	$	142,128	$	(10,470)	$	1,309,178
Average assets (in millions)	$	30,964	$	54	$	12	$	31,030