Operating Segments

6 Months Ended

Jun. 30, 2024

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 2023 Form 10-K for additional information about our operating segments and related accounting policies. Summarized operating results by operating segment were as follows:

	Banking		Frost  Wealth Advisors		Non-Banks		Consolidated
Three months ended:
June 30, 2024
Net interest income (expense)	$	398,270	$	1,907	$	(3,465)	$	396,712
Credit loss expense	15,787		—		—		15,787
Non-interest income	62,178		49,489		(477)		111,190
Non-interest expense	276,196		37,875		2,893		316,964
Income (loss) before income taxes	168,465		13,521		(6,835)		175,151
Income tax expense (benefit)	28,819		2,839		(2,006)		29,652
Net income (loss)	139,646		10,682		(4,829)		145,499
Preferred stock dividends	—		—		1,669		1,669
Net income (loss) available to common shareholders	$	139,646	$	10,682	$	(6,498)	$	143,830
Revenues from (expenses to) external customers	$	460,448	$	51,396	$	(3,942)	$	507,902
June 30, 2023
Net interest income (expense)	$	385,720	$	2,090	$	(2,544)	$	385,266
Credit loss expense (benefit)	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

	Banking		Frost  Wealth Advisors		Non-Banks		Consolidated
Six months ended:
June 30, 2024
Net interest income (expense)	$	790,075	$	3,576	$	(6,888)	$	786,763
Credit loss expense (benefit)	29,437		—		—		29,437
Non-interest income	128,558		94,915		(906)		222,567
Non-interest expense	563,026		75,848		4,307		643,181
Income (loss) before income taxes	326,170		22,643		(12,101)		336,712
Income tax expense (benefit)	54,454		4,755		(3,686)		55,523
Net income (loss)	271,716		17,888		(8,415)		281,189
Preferred stock dividends	—		—		3,338		3,338
Net income (loss) available to common shareholders	$	271,716	$	17,888	$	(11,753)	$	277,851
Revenues from (expenses to) external customers	$	918,633	$	98,491	$	(7,794)	$	1,009,330
June 30, 2023
Net interest income (expense)	$	785,857	$	3,744	$	(4,515)	$	785,086
Credit loss expense	19,005		—		—		19,005
Non-interest income	121,451		88,185		(843)		208,793
Non-interest expense	496,792		69,507		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