Operating Segments (Tables)

3 Months Ended

Mar. 31, 2026

Financial results by operating segment, including significant expense categories provided to the chief operating decision maker, are detailed below.


	Banking		Frost Wealth Advisors		Non-Banks		Consolidated
Three months ended:
March 31, 2026
Interest income	$	576,332	$	1,635	$	—	$	577,967
Interest expense	136,462		84		2,899		139,445
Net interest income (expense)	439,870		1,551		(2,899)		438,522
Credit loss expense	6,745		—		—		6,745
Net interest income after credit loss expense	433,125		1,551		(2,899)		431,777
Non-interest income:
Trust and investment management fees	—		48,132		(175)		47,957
Service charges on deposit accounts	32,152		5		—		32,157
Insurance commissions and fees	22,075		—		—		22,075
Interchange and card transaction fees	6,532		—		—		6,532
Other charges, commissions and fees	7,239		6,029		—		13,268
Net gain (loss) on securities transactions	—		—		—		—
Other	13,012		1,273		41		14,326
Total non-interest income	81,010		55,439		(134)		136,315
Non-interest expense:
Salaries and wages	145,830		19,938		422		166,190
Employee benefits	39,692		4,938		26		44,656
Net occupancy	30,782		3,971		—		34,753
Technology, furniture and equipment	40,092		1,532		50		41,674
Deposit insurance	7,192		11		—		7,203
Other	56,526		13,814		870		71,210
Total non-interest expense	320,114		44,204		1,368		365,686
Income (loss) before income taxes	194,021		12,786		(4,401)		202,406
Income tax expense (benefit)	30,123		2,685		(1,389)		31,419
Net income (loss)	163,898		10,101		(3,012)		170,987
Preferred stock dividends	—		—		1,669		1,669
Net income (loss) available to common shareholders	$	163,898	$	10,101	$	(4,681)	$	169,318
Revenues from (expenses to) external customers	$	520,880	$	56,990	$	(3,033)	$	574,837
Average assets (in millions)	$	52,035	$	78	$	9	$	52,122


	Banking		Frost Wealth Advisors		Non-Banks		Consolidated
Three months ended:
March 31, 2025
Interest income	$	583,241	$	1,876	$	—	$	585,117
Interest expense	165,700		89		3,108		168,897
Net interest income (expense)	417,541		1,787		(3,108)		416,220
Credit loss expense	13,070		—		—		13,070
Net interest income after credit loss expense	404,471		1,787		(3,108)		403,150
Non-interest income:
Trust and investment management fees	—		43,544		(613)		42,931
Service charges on deposit accounts	28,618		3		—		28,621
Insurance commissions and fees	21,019		—		—		21,019
Interchange and card transaction fees	5,402		—		—		5,402
Other charges, commissions and fees	7,406		6,180		—		13,586
Net gain (loss) on securities transactions	(14)		—		—		(14)
Other	11,385		1,023		58		12,466
Total non-interest income	73,816		50,750		(555)		124,011
Non-interest expense:
Salaries and wages	141,092		19,369		396		160,857
Employee benefits	37,338		4,794		25		42,157
Net occupancy	29,736		3,541		—		33,277
Technology, furniture and equipment	38,557		1,508		53		40,118
Deposit insurance	7,171		13		—		7,184
Other	50,828		12,640		1,005		64,473
Total non-interest expense	304,722		41,865		1,479		348,066
Income (loss) before income taxes	173,565		10,672		(5,142)		179,095
Income tax expense (benefit)	27,526		2,241		(1,594)		28,173
Net income (loss)	146,039		8,431		(3,548)		150,922
Preferred stock dividends	—		—		1,669		1,669
Net income (loss) available to common shareholders	$	146,039	$	8,431	$	(5,217)	$	149,253
Revenues from (expenses to) external customers	$	491,357	$	52,537	$	(3,663)	$	540,231
Average assets (in millions)	$	50,846	$	70	$	9	$	50,925