Operating Segments

3 Months Ended

Mar. 31, 2023

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 2022 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:
March 31, 2023
Net interest income (expense)	$	401,318	$	1,654	$	(3,152)	$	399,820
Credit loss expense	9,102		2		—		9,104
Non-interest income	63,643		42,038		(416)		105,265
Non-interest expense	249,867		33,947		1,328		285,142
Income (loss) before income taxes	205,992		9,743		(4,896)		210,839
Income tax expense (benefit)	32,366		2,046		(1,226)		33,186
Net income (loss)	173,626		7,697		(3,670)		177,653
Preferred stock dividends	—		—		1,669		1,669
Net income (loss) available to common shareholders	$	173,626	$	7,697	$	(5,339)	$	175,984
Revenues from (expenses to) external customers	$	464,961	$	43,692	$	(3,568)	$	505,085
March 31, 2022
Net interest income (expense)	$	250,119	$	700	$	(1,748)	$	249,071
Credit loss expense (benefit)	(1)		1		—		—
Non-interest income	58,706		43,229		(545)		101,390
Non-interest expense	206,538		30,910		1,284		238,732
Income (loss) before income taxes	102,288		13,018		(3,577)		111,729
Income tax expense (benefit)	11,014		2,734		(1,121)		12,627
Net income (loss)	91,274		10,284		(2,456)		99,102
Preferred stock dividends	—		—		1,669		1,669
Net income (loss) available to common shareholders	$	91,274	$	10,284	$	(4,125)	$	97,433
Revenues from (expenses to) external customers	$	308,825	$	43,929	$	(2,293)	$	350,461