Operating Segments

9 Months Ended

Sep. 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:
September 30, 2021
Net interest income (expense)	$	247,381	$	536	$	(1,795)	$	246,122
Credit loss expense	(6)		6		—		—
Non-interest income	51,279		42,369		(459)		93,189
Non-interest expense	185,891		31,086		1,026		218,003
Income (loss) before income taxes	112,775		11,813		(3,280)		121,308
Income tax expense (benefit)	12,029		2,481		(1,177)		13,333
Net income (loss)	100,746		9,332		(2,103)		107,975
Preferred stock dividends	—		—		1,668		1,668
Net income (loss) available to common shareholders	$	100,746	$	9,332	$	(3,771)	$	106,307
Revenues from (expenses to) external customers	$	298,660	$	42,905	$	(2,254)	$	339,311
September 30, 2020
Net interest income (expense)	$	244,685	$	602	$	(1,864)	$	243,423
Credit loss expense (benefit)	20,300		2		—		20,302
Non-interest income	49,170		34,680		(249)		83,601
Non-interest expense	170,290		30,052		1,808		202,150
Income (loss) before income taxes	103,265		5,228		(3,921)		104,572
Income tax expense (benefit)	9,758		1,098		(1,340)		9,516
Net income (loss) available to common shareholders	$	93,507	$	4,130	$	(2,581)	$	95,056
Revenues from (expenses to) external customers	$	293,855	$	35,282	$	(2,113)	$	327,024
Nine months ended:
September 30, 2021
Net interest income (expense)	$	748,036	$	1,530	$	(5,407)	$	744,159
Credit loss expense	57		6		—		63
Non-interest income	154,003		124,512		(843)		277,672
Non-interest expense	548,151		91,037		4,211		643,399
Income (loss) before income taxes	353,831		34,999		(10,461)		378,369
Income tax expense (benefit)	32,811		7,350		(3,850)		36,311
Net income (loss)	321,020		27,649		(6,611)		342,058
Preferred stock dividends	—		—		5,488		5,488
Net income (loss) available to common shareholders	$	321,020	$	27,649	$	(12,099)	$	336,570
Revenues from (expenses to) external customers	$	902,039	$	126,042	$	(6,250)	$	1,021,831
September 30, 2020
Net interest income (expense)	$	737,977	$	2,163	$	(6,385)	$	733,755
Credit loss expense	227,474		—		—		227,474
Non-interest income	265,492		109,330		(705)		374,117
Non-interest expense	525,882		94,225		5,885		625,992
Income (loss) before income taxes	250,113		17,268		(12,975)		254,406
Income tax expense (benefit)	12,090		3,626		(4,191)		11,525
Net income (loss)	238,023		13,642		(8,784)		242,881
Preferred stock dividends	—		—		2,016		2,016
Redemption of preferred stock	—		—		5,514		5,514
Net income (loss) available to common shareholders	$	238,023	$	13,642	$	(16,314)	$	235,351
Revenues from (expenses to) external customers	$	1,003,469	$	111,493	$	(7,090)	$	1,107,872