<SEC-DOCUMENT>0000039263-19-000012.txt : 20190208
<SEC-HEADER>0000039263-19-000012.hdr.sgml : 20190208
<ACCEPTANCE-DATETIME>20190208125453
ACCESSION NUMBER:		0000039263-19-000012
CONFORMED SUBMISSION TYPE:	SC 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20190208
DATE AS OF CHANGE:		20190208

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CULLEN/FROST BANKERS, INC.
		CENTRAL INDEX KEY:			0000039263
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				741751768
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-16437
		FILM NUMBER:		19578944

	BUSINESS ADDRESS:	
		STREET 1:		100 W HOUSTON ST
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78205
		BUSINESS PHONE:		210-220-4011

	MAIL ADDRESS:	
		STREET 1:		POST OFFICE BOX 1600
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78296-1600

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CULLEN FROST BANKERS INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FROST BANK CORP
		DATE OF NAME CHANGE:	19770823

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CULLEN/FROST BANKERS, INC.
		CENTRAL INDEX KEY:			0000039263
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				741751768
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		100 W HOUSTON ST
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78205
		BUSINESS PHONE:		210-220-4011

	MAIL ADDRESS:	
		STREET 1:		POST OFFICE BOX 1600
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78296-1600

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CULLEN FROST BANKERS INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FROST BANK CORP
		DATE OF NAME CHANGE:	19770823
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G/A
<SEQUENCE>1
<FILENAME>schedule13ga2018.htm
<DESCRIPTION>SC 13G/A
<TEXT>
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<div><a name="sC99529823C805E0790A1B02797713159"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECURITIES AND EXCHANGE COMMISSION</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Washington, D. C. 20549</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SCHEDULE 13G</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Under the Securities Exchange Act of 1934</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(Amendment No. 38)</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Cullen/Frost Bankers, Inc.</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(Name of Issuer)</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Common Stock, par value $0.01 per share</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(Title of Class of Securities)</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">229899 10 9</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(CUSIP Number)</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#32;&#32;&#32;&#32;&#32;Check the following box if a fee is being paid with this statement:  /__/</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><hr style="page-break-after:always"><div><a name="s6FA5E9A4911E5085B1111CDC89AD0FB0"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">CUSIP No. 229899 10 9</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1)  Names of Reporting Persons S.S. or I.R.S.</font></div><div style="line-height:120%;text-align:left;padding-left:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Identification Nos. of Above Persons.</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Cullen/Frost Bankers, Inc. ("Cullen/Frost Bankers")</font></div><div style="line-height:120%;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">74-1751768</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">_________________________________________________________________</font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2)  Check the Appropriate Box if a Member of a Group (See</font></div><div style="line-height:120%;text-align:left;padding-left:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Instructions).</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a) /__/</font></div><div style="line-height:120%;text-align:left;padding-left:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b) /__/</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">__________________________________________________________________</font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">3)  SEC USE ONLY </font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">__________________________________________________________________</font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">4)  Citizenship or Place of Organization.  Incorporated</font></div><div style="line-height:120%;text-align:left;padding-left:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">under the laws of the State of Texas</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">__________________________________________________________________</font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Number of Shares Beneficially Owned by Each Reporting Person</font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">with: </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">5)  Sole Voting Power                                </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">209,665</font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">6)  Shared Voting Power               </font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;&#32;&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">2,891,556</font><font style="font-family:inherit;font-size:12pt;">**</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">7)  Sole Dispositive Power            </font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;         </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">269,892</font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">8)  Shared Dispositive Power                         </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">5,386</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">__________________________________________________________________</font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">9)   Aggregate Amount Beneficially Owned by Each Reporting</font></div><div style="line-height:120%;text-align:left;padding-left:96px;text-indent:-24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Person. </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">4,419,479</font><font style="font-family:inherit;font-size:12pt;">*</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">________________________________________________________________</font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">10)  Check if the Aggregate Amount in Row (9) Excludes</font></div><div style="line-height:120%;text-align:left;padding-left:78px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Certain Shares (See Instructions) </font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">__________________________________________________________________</font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">11)  Percent of Class Represented by Amount in Row 9.</font></div><div style="line-height:120%;text-align:left;padding-left:78px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">7.0</font><font style="font-family:inherit;font-size:12pt;">%</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">__________________________________________________________________</font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">12)  Type of Reporting Person (See Instructions).   HC</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">__________________________________________________________________</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">* Includes </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">1,318,258</font><font style="font-family:inherit;font-size:12pt;">&#32;shares with respect to which subsidiaries of Cullen/Frost Bankers have no voting power</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#32;and </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">4,144,201</font><font style="font-family:inherit;font-size:12pt;">** shares with respect to which subsidiaries of Cullen/Frost Bankers have no dispositive power.</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Inasmuch as all shares are held by subsidiaries of Cullen/Frost Bankers in a fiduciary capacity, Cullen/Frost</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#32;Bankers explicitly disclaims beneficial ownership of all such shares for purposes of Sections 13(d) and 13(g)</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#32;of the Securities Exchange Act of 1934 ("1934 Act") pursuant to the provisions of Rule 13d-4 promulgated</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#32;under the 1934 Act.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">** Includes </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">2,884,431</font><font style="font-family:inherit;font-size:12pt;">&#32;shares held by participants of the 401(k) Plan.</font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">CUSIP No. 229899 10 9</font></div><div style="line-height:120%;text-align:left;padding-left:96px;text-indent:-96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">__________________________________________________________________</font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1)  Names of Reporting Persons S.S. or I.R.S. Identification</font></div><div style="line-height:120%;text-align:left;padding-left:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Nos. of Above Persons</font></div><div style="line-height:120%;text-align:left;padding-left:96px;text-indent:-96px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:240px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:96px;"><font style="font-family:inherit;font-size:12pt;">Frost Bank </font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">74-0635455</font></div></td></tr></table><div style="line-height:120%;text-align:left;padding-left:144px;text-indent:-144px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">__________________________________________________________________</font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2)  Check the Appropriate Box if a Member of a Group (See</font></div><div style="line-height:120%;text-align:left;padding-left:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Instructions)</font></div><div style="line-height:120%;text-align:left;padding-left:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)  /__/</font></div><div style="line-height:120%;text-align:left;padding-left:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)  /__/</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">__________________________________________________________________</font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">3)  SEC USE ONLY</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">__________________________________________________________________</font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Citizenship or Place of Organization.</font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Incorporated under the laws of the United States</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">__________________________________________________________________</font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Number of Shares Beneficially Owned by Each Reporting Person</font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">With:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">5)  Sole Voting Power                 </font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;     </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">209,665</font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">6)  Shared Voting Power               </font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">2,891,556</font><font style="font-family:inherit;font-size:12pt;">&#32;**</font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">7)  Sole Dispositive Power            </font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160; </font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">269,892</font><font style="font-family:inherit;font-size:12pt;">&#32;</font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">8)  Shared Dispositive Power                 </font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;&#32;&#32;&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">5,386</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">__________________________________________________________________</font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">9)  Aggregate Amount Beneficially Owned by Each Reporting</font></div><div style="line-height:120%;text-align:left;padding-left:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Person. </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">4,419,479</font><font style="font-family:inherit;font-size:12pt;">*</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">__________________________________________________________________</font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">10) Check if the Aggregate Amount in Row (9) Excludes</font></div><div style="line-height:120%;text-align:left;padding-left:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Certain Shares (See Instructions) </font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">__________________________________________________________________</font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">11)  Percent of Class Represented by Amount in Row 9.  </font></div><div style="line-height:120%;text-align:left;padding-left:78px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">7.0</font><font style="font-family:inherit;font-size:12pt;">%</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">__________________________________________________________________</font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">12)  Type of Reporting Person (See Instructions).  BK</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">__________________________________________________________________</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">*  Includes </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">1,318,258</font><font style="font-family:inherit;font-size:12pt;">&#32;shares with respect to which Frost Bank has no voting power and </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">4,144,201</font><font style="font-family:inherit;font-size:12pt;">** shares</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#32;with respect to which Frost Bank has no dispositive power.  Inasmuch as all shares are held by Frost Bank</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#32;in a fiduciary capacity, Frost Bank explicitly disclaims beneficial ownership of all such shares for purposes</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#32;of Sections 13(d) and 13(g) of the Securities Exchange Act of 1934 ("1934 Act") pursuant of the provisions</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#32;of Rule 13d-4 promulgated under the 1934 Act.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">**  Includes </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">2,884,431</font><font style="font-family:inherit;font-size:12pt;">&#32;shares held by participants of the 401(k) Plan.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Item 1 (a)        Name of Issuer:</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Cullen/Frost Bankers, Inc. ("Cullen/Frost Bankers")</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Item 1 (b)         Address of Issuer's Principal Executive Offices:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">100 West Houston Street</font></div><div style="line-height:120%;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">San Antonio, Texas  78205</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Item 2 (a)        Name of Persons Filing:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Cullen/Frost Bankers and Frost Bank              </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Item 2 (b)        Address or Principal Business Office or, if none,</font></div><div style="line-height:120%;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Residence:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The address of Cullen/Frost Bankers and Frost Bank</font></div><div style="line-height:120%;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">is 100 W. Houston Street, San Antonio, Texas 78205</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Item 2 (c)        Citizenship:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Cullen/Frost Bankers is incorporated under the laws</font></div><div style="line-height:120%;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">of the State of Texas; Frost Bank is incorporated</font></div><div style="line-height:120%;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">under the laws of the United States.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Item 2 (d)        Title of Class of Securities:</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Common Stock, par value $0.01 per share</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Item 2 (e)        CUSIP Number:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">229899 10 9</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Item 3              If this statement is filed pursuant to Rules 13d-</font></div><div style="line-height:120%;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1(b), or 13d-2(b), check whether the person filing</font></div><div style="line-height:120%;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">is a:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)  [ ]   Broker or Dealer registered under section</font></div><div style="line-height:120%;text-align:left;padding-left:144px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#32;15 of the Act</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)  [x]  Bank as defined in section 3(a)(6) of the</font></div><div style="line-height:120%;text-align:left;padding-left:144px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Act (Note:  See Items 2, 4, 6, and 7) </font></div><div style="line-height:120%;text-align:left;padding-left:144px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#32;&#32;(Frost Bank)</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)  [ ]   Insurance Company as defined in sections</font></div><div style="line-height:120%;text-align:left;padding-left:144px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#32;3(a)(19) of the Act</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)  [ ]   Investment Company registered under</font></div><div style="line-height:120%;text-align:left;padding-left:144px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#32;&#32;sections 8 of the Investment Company Act</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:justify;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(e)  [ ]   Investment Adviser registered under</font></div><div style="line-height:120%;text-align:left;padding-left:144px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#32;section 203 of the Investment Advisers</font></div><div style="line-height:120%;text-align:left;padding-left:144px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#32;Act of 1940</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(f)  [ ]  Employee Benefit Plan, Pensions Fund</font></div><div style="line-height:120%;text-align:left;padding-left:144px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">which is subject to the provisions of</font></div><div style="line-height:120%;text-align:left;padding-left:144px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">the Employee Retirement Income Security</font></div><div style="line-height:120%;text-align:left;padding-left:144px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Act of 1974 or Endowment Fund;  see</font></div><div style="line-height:120%;text-align:left;padding-left:144px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">s 240.13d-1(b) (1) (ii) (F)</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(g) [x] Parent Holding Company, in accordance</font></div><div style="line-height:120%;text-align:left;padding-left:144px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">with s 340.13d-1(b) (ii) (G) (Note:  See</font></div><div style="line-height:120%;text-align:left;padding-left:144px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Items 2, 4, 5, and 7) (Cullen/Frost</font></div><div style="line-height:120%;text-align:left;padding-left:144px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Bankers)</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(h) [ ] Group, in accordance with s 240.13d-</font></div><div style="line-height:120%;text-align:left;padding-left:144px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1(b) (1) (ii) (H)</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Item 4         Ownership:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)  Amount Beneficially Owned:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:126px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">At December 31, 2018, Cullen/Frost Bankers was deemed to have </font></div><div style="line-height:120%;text-align:left;padding-left:144px;text-indent:-18px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">owned beneficially </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">4,419,479</font><font style="font-family:inherit;font-size:12pt;">&#32;shares of Cullen/Frost Bankers Common Stock,</font></div><div style="line-height:120%;text-align:left;padding-left:126px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">including -0- shares where there was a right to acquire. Included among</font></div><div style="line-height:120%;text-align:left;padding-left:126px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">such shares were shares which were beneficially owned by</font></div><div style="line-height:120%;text-align:left;padding-left:126px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Frost Bank, a wholly-owned subsidiary of Cullen/Frost Bankers.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)  Percent of Class:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:126px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Cullen/Frost Bankers</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">7.0</font><font style="font-family:inherit;font-size:12pt;">%</font></div><div style="line-height:120%;text-align:left;padding-left:126px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Frost Bank</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">7.0</font><font style="font-family:inherit;font-size:12pt;">%</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)  Number of shares as to which such person has:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:126px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(i)  sole power to vote or to direct the vote</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:144px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#32;Cullen/Frost Bankers </font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">209,665</font><font style="font-family:inherit;font-size:12pt;">&#32;shares</font></div><div style="line-height:120%;text-align:left;padding-left:168px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Frost Bank </font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">209,665</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;padding-left:126px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:126px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(ii) Shared power to vote or to direct the</font></div><div style="line-height:120%;text-align:left;padding-left:150px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">vote</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:150px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Cullen/Frost Bankers  </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">2,891,556</font><font style="font-family:inherit;font-size:12pt;">** shares</font></div><div style="line-height:120%;text-align:left;padding-left:168px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Frost Bank </font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">2,891,556</font><font style="font-family:inherit;font-size:12pt;">**</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:126px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(iii) sole power to dispose or to direct the</font></div><div style="line-height:120%;text-align:left;padding-left:156px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">disposition of</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:150px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Cullen/Frost Bankers </font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">269,892</font><font style="font-family:inherit;font-size:12pt;">&#32;shares</font></div><div style="line-height:120%;text-align:left;padding-left:168px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Frost Bank </font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;  </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">269,892</font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:144px;text-indent:-18px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(iv)  shared power to dispose or to direct</font></div><div style="line-height:120%;text-align:left;padding-left:156px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">the disposition of</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:156px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Cullen/Frost Bankers </font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">5,386</font><font style="font-family:inherit;font-size:12pt;">&#32;shares</font></div><div style="line-height:120%;text-align:left;padding-left:168px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Frost Bank </font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">5,386</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">These totals do not include a total of </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">1,318,258</font><font style="font-family:inherit;font-size:12pt;">&#32;shares with respect to which Cullen/Frost Bankers and</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#32;Frost Bank have no voting power and **</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">4,144,201</font><font style="font-family:inherit;font-size:12pt;">&#32;shares with respect to which Cullen/Frost Bankers and</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#32;Frost Bank have no dispositive power.  Inasmuch as all shares described are held by subsidiaries of</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#32;Cullen/Frost Bankers in a fiduciary capacity, Cullen/Frost Bankers and Frost Bank specifically disclaim</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#32;beneficial ownership of all such shares for purposes of Sections 13 (d) and 13 (g) of the Securities</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#32;Exchange Act of 1934 ("1934 Act") pursuant to Rule 13d-4 promulgated under the 1934 Act.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Item 5     Ownership of Five Percent or Less of a Class.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:66px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Not Applicable.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Item 6     Ownership of More than Five Percent on Behalf of</font></div><div style="line-height:120%;text-align:left;padding-left:60px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Another Person.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:66px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">At December 31, 2018, Frost Bank did not own </font></div><div style="line-height:120%;text-align:left;padding-left:66px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">securities of Cullen/Frost Bankers for their own</font></div><div style="line-height:120%;text-align:left;padding-left:66px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">account; but, said bank held of record in various</font></div><div style="line-height:120%;text-align:left;padding-left:66px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">fiduciary capacities an aggregate of </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">4,419,479</font><font style="font-family:inherit;font-size:12pt;">&#32;shares.</font></div><div style="line-height:120%;text-align:left;padding-left:66px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The Bank has reported to Cullen/Frost Bankers</font></div><div style="line-height:120%;text-align:left;padding-left:66px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">that these securities, registered in the name of the</font></div><div style="line-height:120%;text-align:left;padding-left:66px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">reporting bank as fiduciary or in the names of various</font></div><div style="line-height:120%;text-align:left;padding-left:66px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">of their nominees, were owned by a separate instrument</font></div><div style="line-height:120%;text-align:left;padding-left:66px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">which sets forth the power of the reporting bank with</font></div><div style="line-height:120%;text-align:left;padding-left:66px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">regard to the securities held in such account.</font></div><div style="line-height:120%;text-align:left;padding-left:66px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Virtually all of these accounts involved persons who</font></div><div style="line-height:120%;text-align:left;padding-left:66px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">have the right to receive or direct the receipt of</font></div><div style="line-height:120%;text-align:left;padding-left:66px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">dividends from, or the proceeds of the sale of, the</font></div><div style="line-height:120%;text-align:left;padding-left:66px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">securities reported in Item 4.  The individual</font></div><div style="line-height:120%;text-align:left;padding-left:66px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">interest of each of said persons did not relate to</font></div><div style="line-height:120%;text-align:left;padding-left:66px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">more than five percent of the class.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">**  Includes </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">2,884,431</font><font style="font-family:inherit;font-size:12pt;">&#32;shares held by participants of the 401(k) Plan.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Item 7      Identification and Classification of the Subsidiary</font></div><div style="line-height:120%;text-align:left;padding-left:66px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Which Acquired the Security Being Reported on By the</font></div><div style="line-height:120%;text-align:left;padding-left:66px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Parent Holding Company.</font></div><div style="line-height:120%;text-align:left;padding-left:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:66px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">All of the securities being reported on are held of</font></div><div style="line-height:120%;text-align:left;padding-left:66px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">record by Frost Bank.  Each of such entities</font></div><div style="line-height:120%;text-align:left;padding-left:66px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">is an Item 3(b) entity.  See Items 4 and 6.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Item 8      Identification and Classification of Members of the</font></div><div style="line-height:120%;text-align:left;padding-left:66px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Group.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:66px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Not Applicable.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Item 9      Notice of Dissolution of Group.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:66px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Not Applicable.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Item 10    Certification.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:66px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By signing below, I certify that, to the best of my knowledge and belief,</font></div><div style="line-height:120%;text-align:left;padding-left:66px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">the securities referred to above were acquired in the ordinary course of</font></div><div style="line-height:120%;text-align:left;padding-left:66px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">business and were not acquired for the purpose of and do not have the</font></div><div style="line-height:120%;text-align:left;padding-left:66px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">effect of changing or influencing the control of the issuer of such securities</font></div><div style="line-height:120%;text-align:left;padding-left:66px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">and were not acquired in connection with or as a participant in any transaction</font></div><div style="line-height:120%;text-align:left;padding-left:66px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">having such purposes or effect.</font></div><div style="line-height:120%;text-align:justify;padding-left:96px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Signature</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">After reasonable inquiry and to the best of my knowledge and belief, I certify that the information</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">set forth in this statement is true, complete and correct.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">January 25, 2019</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Date</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">CULLEN/FROST BANKERS, INC.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">/s/ James L. Waters</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Signature</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">James L. Waters, Corporate Secretary</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name/Title</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">FROST BANK </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">/s/ Russ Morse</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Signature</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Russ Morse, Executive Vice President</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name/Title </font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Exhibit A</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:270px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">AGREEMENT</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Cullen/Frost Bankers, Inc. and Frost Bank do each hereby agree that the Schedule 13G, to which this</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#32;Agreement is attached as Exhibit A, shall be jointly filed by such entities.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">IN WITNESS WHEREOF, Cullen/Frost Bankers, Inc., acting by and through a duly authorized officer,</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">and Frost Bank, acting by and through a duly authorized officer, have executed this Agreement, on the </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">25</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">th</sup>&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#32;day of </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">January, 2019</font><font style="font-family:inherit;font-size:12pt;">.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">CULLEN/FROST BANKERS, INC.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">/s/ James L. Waters</font></div><div style="line-height:120%;text-align:left;padding-left:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Its Corporate Secretary</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">FROST BANK </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">/s/ Russ Morse</font></div><div style="line-height:120%;text-align:left;padding-left:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Its Executive Vice President </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8</font></div></div>	</body>
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