Operating Segments

6 Months Ended

Jun. 30, 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:
June 30, 2023
Net interest income (expense)	$	385,720	$	2,090	$	(2,544)	$	385,266
Credit loss expense	9,901		—		—		9,901
Non-interest income	57,808		46,147		(427)		103,528
Non-interest expense	246,927		35,558		2,557		285,042
Income (loss) before income taxes	186,700		12,679		(5,528)		193,851
Income tax expense (benefit)	30,636		2,663		(1,566)		31,733
Net income (loss)	156,064		10,016		(3,962)		162,118
Preferred stock dividends	—		—		1,669		1,669
Net income (loss) available to common shareholders	$	156,064	$	10,016	$	(5,631)	$	160,449
Revenues from (expenses to) external customers	$	443,528	$	48,237	$	(2,971)	$	488,794
June 30, 2022
Net interest income (expense)	$	289,186	$	958	$	(1,936)	$	288,208
Credit loss expense (benefit)	1		(1)		—		—
Non-interest income	55,397		43,054		(524)		97,927
Non-interest expense	211,044		33,158		2,145		246,347
Income (loss) before income taxes	133,538		10,855		(4,605)		139,788
Income tax expense (benefit)	19,821		2,279		(1,426)		20,674
Net income (loss)	113,717		8,576		(3,179)		119,114
Preferred stock dividends	—		—		1,669		1,669
Net income (loss) available to common shareholders	$	113,717	$	8,576	$	(4,848)	$	117,445
Revenues from (expenses to) external customers	$	344,583	$	44,012	$	(2,460)	$	386,135

	Banking		Frost  Wealth Advisors		Non-Banks		Consolidated
Six months ended:
June 30, 2023
Net interest income (expense)	$	785,857	$	3,744	$	(4,515)	$	785,086
Credit loss expense (benefit)	19,003		2		—		19,005
Non-interest income	121,451		88,185		(843)		208,793
Non-interest expense	496,794		69,505		3,885		570,184
Income (loss) before income taxes	391,511		22,422		(9,243)		404,690
Income tax expense (benefit)	62,754		4,709		(2,544)		64,919
Net income (loss)	328,757		17,713		(6,699)		339,771
Preferred stock dividends	—		—		3,338		3,338
Net income (loss) available to common shareholders	$	328,757	$	17,713	$	(10,037)	$	336,433
Revenues from (expenses to) external customers	$	907,308	$	91,929	$	(5,358)	$	993,879
June 30, 2022
Net interest income (expense)	$	539,305	$	1,658	$	(3,684)	$	537,279
Credit loss expense	—		—		—		—
Non-interest income	114,103		86,283		(1,069)		199,317
Non-interest expense	417,582		64,068		3,429		485,079
Income (loss) before income taxes	235,826		23,873		(8,182)		251,517
Income tax expense (benefit)	30,835		5,013		(2,547)		33,301
Net income (loss)	204,991		18,860		(5,635)		218,216
Preferred stock dividends	—		—		3,338		3,338
Net income (loss) available to common shareholders	$	204,991	$	18,860	$	(8,973)	$	214,878
Revenues from (expenses to) external customers	$	653,408	$	87,941	$	(4,753)	$	736,596