Operating Segments

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Operating Segments

Operating Segments

We are managed under a matrix organizational structure whereby our two primary operating segments, Banking and Frost Wealth Advisors, overlap a regional reporting structure. See our 2020 Form 10-K for additional information regarding our operating segments. Summarized operating results by segment were as follows:

	Banking		Frost  Wealth Advisors		Non-Banks		Consolidated
Three months ended:
June 30, 2021
Net interest income (expense)	$	258,450	$	508	$	(1,802)	$	257,156
Credit loss expense	—		—		—		—
Non-interest income	48,944		42,534		(231)		91,247
Non-interest expense	183,109		30,014		2,131		215,254
Income (loss) before income taxes	124,285		13,028		(4,164)		133,149
Income tax expense (benefit)	13,605		2,736		(1,260)		15,081
Net income (loss)	110,680		10,292		(2,904)		118,068
Preferred stock dividends	—		—		1,669		1,669
Net income (loss) available to common shareholders	$	110,680	$	10,292	$	(4,573)	$	116,399
Revenues from (expenses to) external customers	$	307,394	$	43,042	$	(2,033)	$	348,403
June 30, 2020
Net interest income (expense)	$	247,279	$	684	$	(2,152)	$	245,811
Credit loss expense (benefit)	31,976		(1)		—		31,975
Non-interest income	42,906		34,920		(225)		77,601
Non-interest expense	166,620		30,637		2,422		199,679
Income (loss) before income taxes	91,589		4,968		(4,799)		91,758
Income tax expense (benefit)	(903)		1,043		(1,454)		(1,314)
Net income (loss) available to common shareholders	$	92,492	$	3,925	$	(3,345)	$	93,072
Revenues from (expenses to) external customers	$	290,185	$	35,604	$	(2,377)	$	323,412
Six months ended:
June 30, 2021
Net interest income (expense)	$	500,655	$	994	$	(3,612)	$	498,037
Credit loss expense	63		—		—		63
Non-interest income	102,724		82,143		(384)		184,483
Non-interest expense	362,260		59,951		3,185		425,396
Income (loss) before income taxes	241,056		23,186		(7,181)		257,061
Income tax expense (benefit)	20,782		4,869		(2,673)		22,978
Net income (loss)	220,274		18,317		(4,508)		234,083
Preferred stock dividends	—		—		3,820		3,820
Net income (loss) available to common shareholders	$	220,274	$	18,317	$	(8,328)	$	230,263
Revenues from (expenses to) external customers	$	603,379	$	83,137	$	(3,996)	$	682,520
June 30, 2020
Net interest income (expense)	$	493,292	$	1,561	$	(4,521)	$	490,332
Credit loss expense	207,174		(2)		—		207,172
Non-interest income	216,322		74,650		(456)		290,516
Non-interest expense	355,592		64,173		4,077		423,842
Income (loss) before income taxes	146,848		12,040		(9,054)		149,834
Income tax expense (benefit)	2,332		2,528		(2,851)		2,009
Net income (loss)	144,516		9,512		(6,203)		147,825
Preferred stock dividends	—		—		2,016		2,016
Redemption of preferred stock	—		—		5,514		5,514
Net income (loss) available to common shareholders	$	144,516	$	9,512	$	(13,733)	$	140,295
Revenues from (expenses to) external customers	$	709,614	$	76,211	$	(4,977)	$	780,848