Consolidated Average Balance Sheets

12 Months Ended

Dec. 31, 2011

Consolidated Average Balance Sheets [Abstract]

Consolidated Average Balance Sheets

Cullen/Frost Bankers, Inc.

Consolidated Average Balance Sheets

(Dollars in thousands - tax-equivalent basis)

The following unaudited schedule is presented for additional information and analysis

	Year Ended December 31,
	2011								2010
	Average Balance			Interest Income/ Expense		Yield/ Cost			Average Balance			Interest Income/ Expense		Yield/ Cost
Assets:
Interest-bearing deposits	$	2,499,047		$	6,357		0.25	%	$	1,973,675		$	4,901		0.25	%
Federal funds sold and resell agreements		14,509			61		0.42			20,646			74		0.36
Securities:
Taxable		4,026,797			127,072		3.27			3,286,489			121,402		3.84
Tax-exempt		2,185,707			146,338		6.97			1,927,388			129,027		7.04
Total securities		6,212,504			273,410		4.57			5,213,877			250,429		5.02
Loans, net of unearned discount		8,042,968			403,479		5.02			8,125,150			414,795		5.11
Total earning assets and average rate earned		16,769,028			683,307		4.13			15,333,348			670,199		4.44
Cash and due from banks		593,224								549,256
Allowance for loan losses		(122,641	)							(126,742	)
Premises and equipment, net		317,771								320,030
Accrued interest receivable and other assets		1,011,585								1,110,680
Total assets	$	18,568,967							$	17,186,572
Liabilities:
Non-interest-bearing demand deposits:
Commercial and individual	$	5,093,948							$	4,546,054
Correspondent banks		324,954								310,599
Public funds		320,080								167,127
Total non-interest-bearing demand deposits		5,738,982								5,023,780
Interest-bearing deposits:
Private accounts:
Savings and interest checking		2,541,677			2,115		0.08			2,277,982			3,066		0.13
Money market deposit accounts		5,407,207			14,331		0.27			5,066,747			17,792		0.35
Time accounts		1,127,731			5,015		0.44			1,251,088			8,184		0.65
Public funds		407,018			718		0.18			428,022			931		0.22
Total interest-bearing deposits		9,483,633			22,179		0.23			9,023,839			29,973		0.33
Total deposits		15,222,615								14,047,619
Federal funds purchased and repurchase agreements		596,159			312		0.05			472,492			437		0.09
Junior subordinated deferrable interest debentures		123,712			6,783		5.48			130,051			6,982		5.37
Subordinated notes payable and other notes		187,123			11,965		6.39			250,000			16,318		6.53
Federal Home Loan Bank advances		35			2		6.00			2,600			170		6.54
Total interest-bearing liabilities and average rate paid		10,390,662			41,241		0.40			9,878,982			53,880		0.55
Accrued interest payable and other liabilities		267,227								256,111
Total liabilities		16,396,871								15,158,873
Shareholders' equity		2,172,096								2,027,699
Total liabilities and shareholders' equity	$	18,568,967							$	17,186,572
Net interest income				$	642,066							$	616,319
Net interest spread							3.73	%							3.89	%
Net interest income to total average earning assets							3.88	%							4.08	%

For these computations: (i) average balances are presented on a daily average basis, (ii) information is shown on a taxable-equivalent basis assuming a 35% tax rate, (iii) average loans include loans on non-accrual status, and (iv) average securities include unrealized gains and losses on securities available for sale, while yields are based on average amortized cost.

Year Ended December 31,
2009							2008								2007								2006
Average Balance		Interest Income/ Expense		Yield/ Cost			Average Balance			Interest Income/ Expense		Yield/ Cost			Average Balance			Interest Income/ Expense		Yield/ Cost			Average Balance			Interest Income/ Expense		Yield/ Cost
	$     829,178	$	2,161		0.26	%	$	85,380		$	429		0.50	%	$	7,454		$	396		5.31	%	$	4,000		$	251		6.28	%
	59,236		207		0.35			141,724			3,498		2.47			579,964			29,895		5.15			718,950			36,550		5.08
	2,813,801		125,084		4.58			2,771,797			143,360		5.17			2,876,235			148,467		5.08			2,680,706			133,184		4.85
	1,449,141		99,546		7.15			555,096			36,724		6.61			412,083			26,520		6.41			275,419			17,685		6.46
	4,262,942		224,630		5.45			3,326,893			180,084		5.41			3,288,318			174,987		5.24			2,956,125			150,869		5.00
	8,652,563		437,075		5.05			8,314,265			511,968		6.16			7,464,140			579,027		7.76			6,523,906			506,264		7.76
	13,803,919		664,073		4.86			11,868,262			695,979		5.86			11,339,876			784,305		6.89			10,202,981			693,934		6.76
	585,825							660,369								626,253								615,609
	(120,160)							(96,755	)							(95,226	)							(85,038	)
	297,958							237,517								219,873								200,008
	1,134,418							1,015,138								950,906								647,693
	$15,701,960						$	13,684,531							$	13,041,682							$	11,581,253
	$  3,793,195						$	3,246,169							$	3,224,741							$	3,005,811
	360,238							311,034								248,591								277,332
	105,051							57,544								50,800								51,137
	4,258,484							3,614,747								3,524,132								3,334,280
	2,024,867		3,015		0.15			1,694,688			3,299		0.19			1,401,437			6,555		0.47			1,283,830			4,579		0.36
	4,152,225		24,709		0.60			3,492,935			51,507		1.47			3,494,704			107,486		3.08			3,022,866			92,075		3.05
	1,609,678		26,759		1.66			1,359,989			43,706		3.21			1,382,707			60,264		4.36			1,122,979			42,806		3.81
	374,373		1,532		0.41			368,760			6,359		1.72			409,661			15,932		3.89			420,441			15,630		3.72
	8,161,143		56,015		0.69			6,916,372			104,871		1.52			6,688,509			190,237		2.84			5,850,116			155,090		2.65
	12,419,627							10,531,119								10,212,641								9,184,396
	610,945		1,052		0.17			1,008,019			12,954		1.29			867,152			31,951		3.68			764,173			31,167		4.08
	136,084		7,231		5.31			136,135			6,972		5.12			153,582			11,283		7.35			230,178			17,402		7.56
	250,000		16,318		6.53			250,000			16,318		6.53			237,671			15,591		6.56			150,000			9,991		6.66
	190,077		5,741		3.02			8,628			511		5.92			22,447			1,048		4.67			25,574			1,146		4.48
	9,348,249		86,357		0.92			8,319,154			141,626		1.70			7,969,361			250,110		3.14			7,020,041			214,796		3.06
	264,094							170,319								153,167								153,333
	13,870,827							12,104,220								11,646,660								10,507,654
	1,831,133							1,580,311								1,395,022								1,073,599
	$15,701,960						$	13,684,531							$	13,041,682							$	11,581,253
		$	577,716							$	554,353							$	534,195							$	479,138
					3.94	%							4.16	%							3.75	%							3.70	%
					4.23	%							4.67	%							4.69	%							4.67	%