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Operating Segments | 6 Months Ended
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Jun. 30, 2025
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. The regions are primarily based upon geographic location and include Austin, Dallas, Fort Worth, Gulf Coast (which includes Corpus Christi and the Rio Grande Valley), Houston, Permian Basin, San Antonio and Statewide. We are primarily managed based on the line of business structure. In that regard, all regions have the same lines of business, which have the same product and service offerings, have similar types and classes of customers and utilize similar service delivery methods. Pricing guidelines for products and services are the same across all regions. The regional reporting structure is primarily a means to scale the lines of business to provide a local, community focus for customer relations and business development. See our 2024 Form 10-K for additional information about our operating segments and related accounting policies. Our chief executive officer is our chief operating decision maker. We use a match-funded transfer pricing process to allocate costs, capital and resources to each operating segment. The process helps us to (i) identify the cost or opportunity value of funds within each business segment, (ii) measure the profitability of a particular business segment by relating appropriate costs to revenues, (iii) evaluate each business segment in a manner consistent with its economic impact on consolidated earnings, and (iv) enhance asset and liability pricing decisions. Our chief executive officer reviews actual net income versus budgeted net income to assess segment performance on a monthly basis and to make decisions about allocating capital and personnel to the segments. 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: |  |  |  |  |  |  |
June 30, 2025 |  |  |  |  |  |  |
Interest income | $ | 599,875 |  |  | $ | 2,083 |  |  | $ | — |  |  | $ | 601,958 |
Interest expense | 169,150 |  |  | 99 |  |  | 3,105 |  |  | 172,354 |
Net interest income (expense) | 430,725 |  |  | 1,984 |  |  | (3,105) |  |  | 429,604 |
Credit loss expense | 13,129 |  |  | — |  |  | — |  |  | 13,129 |
Net interest income after credit loss expense | 417,596 |  |  | 1,984 |  |  | (3,105) |  |  | 416,475 |
Non-interest income: |  |  |  |  |  |  |
Trust and investment management fees | — |  |  | 43,844 |  |  | (175) |  |  | 43,669 |
Service charges on deposit accounts | 29,149 |  |  | 2 |  |  | — |  |  | 29,151 |
Insurance commissions and fees | 13,879 |  |  | — |  |  | — |  |  | 13,879 |
Interchange and card transaction fees | 5,619 |  |  | — |  |  | — |  |  | 5,619 |
Other charges, commissions and fees | 8,031 |  |  | 5,936 |  |  | — |  |  | 13,967 |
Net gain (loss) on securities transactions | — |  |  | — |  |  | — |  |  | — |
Other | 9,002 |  |  | 1,928 |  |  | 58 |  |  | 10,988 |
Total non-interest income | 65,680 |  |  | 51,710 |  |  | (117) |  |  | 117,273 |
Non-interest expense: |  |  |  |  |  |  |
Salaries and wages | 142,089 |  |  | 19,664 |  |  | 396 |  |  | 162,149 |
Employee benefits | 29,244 |  |  | 3,557 |  |  | 25 |  |  | 32,826 |
Net occupancy | 30,893 |  |  | 3,747 |  |  | — |  |  | 34,640 |
Technology, furniture and equipment | 39,178 |  |  | 1,344 |  |  | 50 |  |  | 40,572 |
Deposit insurance | 6,579 |  |  | 11 |  |  | — |  |  | 6,590 |
Other | 54,412 |  |  | 13,414 |  |  | 2,525 |  |  | 70,351 |
Total non-interest expense | 302,395 |  |  | 41,737 |  |  | 2,996 |  |  | 347,128 |
Income (loss) before income taxes | 180,881 |  |  | 11,957 |  |  | (6,218) |  |  | 186,620 |
Income tax expense (benefit) | 28,891 |  |  | 2,511 |  |  | (1,785) |  |  | 29,617 |
Net income (loss) | 151,990 |  |  | 9,446 |  |  | (4,433) |  |  | 157,003 |
Preferred stock dividends | — |  |  | — |  |  | 1,669 |  |  | 1,669 |
Net income (loss) available to common shareholders | $ | 151,990 |  |  | $ | 9,446 |  |  | $ | (6,102) |  |  | $ | 155,334 |
Revenues from (expenses to) external customers | $ | 496,405 |  |  | $ | 53,694 |  |  | $ | (3,222) |  |  | $ | 546,877 |
Average assets (in millions) | $ | 51,117 |  |  | $ | 65 |  |  | $ | 9 |  |  | $ | 51,191 |
| Banking |  | Frost Wealth Advisors |  | Non-Banks |  | Consolidated
Three months ended: |  |  |  |  |  |  |
June 30, 2024 |  |  |  |  |  |  |
Interest income | $ | 594,264 |  |  | $ | 2,021 |  |  | $ | — |  |  | $ | 596,285 |
Interest expense | 202,924 |  |  | 114 |  |  | (3,465) |  |  | 199,573 |
Net interest income (expense) | 398,270 |  |  | 1,907 |  |  | (3,465) |  |  | 396,712 |
Credit loss expense | 15,787 |  |  | — |  |  | — |  |  | 15,787 |
Net interest income after credit loss expense | 382,483 |  |  | 1,907 |  |  | (3,465) |  |  | 380,925 |
Non-interest income: |  |  |  |  |  |  |
Trust and investment management fees | — |  |  | 41,950 |  |  | (546) |  |  | 41,404 |
Service charges on deposit accounts | 26,111 |  |  | 3 |  |  | — |  |  | 26,114 |
Insurance commissions and fees | 13,919 |  |  | — |  |  | — |  |  | 13,919 |
Interchange and card transaction fees | 5,351 |  |  | — |  |  | — |  |  | 5,351 |
Other charges, commissions and fees | 7,364 |  |  | 5,656 |  |  | — |  |  | 13,020 |
Net gain (loss) on securities transactions | — |  |  | — |  |  | — |  |  | — |
Other | 9,433 |  |  | 1,880 |  |  | 69 |  |  | 11,382 |
Total non-interest income | 62,178 |  |  | 49,489 |  |  | (477) |  |  | 111,190 |
Non-interest expense: |  |  |  |  |  |  |
Salaries and wages | 132,831 |  |  | 18,001 |  |  | 405 |  |  | 151,237 |
Employee benefits | 25,663 |  |  | 3,112 |  |  | 27 |  |  | 28,802 |
Net occupancy | 28,872 |  |  | 3,502 |  |  | — |  |  | 32,374 |
Technology, furniture and equipment | 34,530 |  |  | 1,368 |  |  | 53 |  |  | 35,951 |
Deposit insurance | 8,353 |  |  | 30 |  |  | — |  |  | 8,383 |
Other | 45,947 |  |  | 11,862 |  |  | 2,408 |  |  | 60,217 |
Total 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 |
Average assets (in millions) | $ | 48,897 |  |  | $ | 54 |  |  | $ | 9 |  |  | $ | 48,960 |
| Banking |  | Frost Wealth Advisors |  | Non-Banks |  | Consolidated
Six months ended: |  |  |  |  |  |  |
June 30, 2025 |  |  |  |  |  |  |
Interest income | $ | 1,183,116 |  |  | $ | 3,959 |  |  | $ | — |  |  | $ | 1,187,075 |
Interest expense | 334,850 |  |  | 188 |  |  | 6,213 |  |  | 341,251 |
Net interest income (expense) | 848,266 |  |  | 3,771 |  |  | (6,213) |  |  | 845,824 |
Credit loss expense | 26,199 |  |  | — |  |  | — |  |  | 26,199 |
Net interest income after credit loss expense | 822,067 |  |  | 3,771 |  |  | (6,213) |  |  | 819,625 |
Non-interest income: |  |  |  |  |  |  |
Trust and investment management fees | — |  |  | 87,388 |  |  | (788) |  |  | 86,600 |
Service charges on deposit accounts | 57,767 |  |  | 5 |  |  | — |  |  | 57,772 |
Insurance commissions and fees | 34,898 |  |  | — |  |  | — |  |  | 34,898 |
Interchange and card transaction fees | 11,021 |  |  | — |  |  | — |  |  | 11,021 |
Other charges, commissions and fees | 15,437 |  |  | 12,116 |  |  | — |  |  | 27,553 |
Net gain (loss) on securities transactions | (14) |  |  | — |  |  | — |  |  | (14) |
Other | 20,387 |  |  | 2,951 |  |  | 116 |  |  | 23,454 |
Total non-interest income | 139,496 |  |  | 102,460 |  |  | (672) |  |  | 241,284 |
Non-interest expense: |  |  |  |  |  |  |
Salaries and wages | 283,181 |  |  | 39,033 |  |  | 792 |  |  | 323,006 |
Employee benefits | 66,582 |  |  | 8,351 |  |  | 50 |  |  | 74,983 |
Net occupancy | 60,629 |  |  | 7,288 |  |  | — |  |  | 67,917 |
Technology, furniture and equipment | 77,735 |  |  | 2,852 |  |  | 103 |  |  | 80,690 |
Deposit insurance | 13,750 |  |  | 24 |  |  | — |  |  | 13,774 |
Other | 105,240 |  |  | 26,054 |  |  | 3,530 |  |  | 134,824 |
Total non-interest expense | 607,117 |  |  | 83,602 |  |  | 4,475 |  |  | 695,194 |
Income (loss) before income taxes | 354,446 |  |  | 22,629 |  |  | (11,360) |  |  | 365,715 |
Income tax expense (benefit) | 56,417 |  |  | 4,752 |  |  | (3,379) |  |  | 57,790 |
Net income (loss) | 298,029 |  |  | 17,877 |  |  | (7,981) |  |  | 307,925 |
Preferred stock dividends | — |  |  | — |  |  | 3,338 |  |  | 3,338 |
Net income (loss) available to common shareholders | $ | 298,029 |  |  | $ | 17,877 |  |  | $ | (11,319) |  |  | $ | 304,587 |
Revenues from (expenses to) external customers | $ | 987,762 |  |  | $ | 106,231 |  |  | $ | (6,885) |  |  | $ | 1,087,108 |
Average assets (in millions) | $ | 50,987 |  |  | $ | 68 |  |  | $ | 9 |  |  | $ | 51,064 |
| Banking |  | Frost Wealth Advisors |  | Non-Banks |  | Consolidated
Six months ended: |  |  |  |  |  |  |
June 30, 2024 |  |  |  |  |  |  |
Interest income | $ | 1,177,993 |  |  | $ | 3,792 |  |  | $ | — |  |  | $ | 1,181,785 |
Interest expense | 387,918 |  |  | 216 |  |  | 6,888 |  |  | 395,022 |
Net interest income (expense) | 790,075 |  |  | 3,576 |  |  | (6,888) |  |  | 786,763 |
Credit loss expense | 29,437 |  |  | — |  |  | — |  |  | 29,437 |
Net interest income after credit loss expense | 760,638 |  |  | 3,576 |  |  | (6,888) |  |  | 757,326 |
Non-interest income: |  |  |  |  |  |  |
Trust and investment management fees | — |  |  | 81,530 |  |  | (1,041) |  |  | 80,489 |
Service charges on deposit accounts | 50,903 |  |  | 6 |  |  | — |  |  | 50,909 |
Insurance commissions and fees | 32,215 |  |  | — |  |  | — |  |  | 32,215 |
Interchange and card transaction fees | 9,825 |  |  | — |  |  | — |  |  | 9,825 |
Other charges, commissions and fees | 14,489 |  |  | 10,591 |  |  | — |  |  | 25,080 |
Net gain (loss) on securities transactions | — |  |  | — |  |  | — |  |  | — |
Other | 21,126 |  |  | 2,788 |  |  | 135 |  |  | 24,049 |
Total non-interest income | 128,558 |  |  | 94,915 |  |  | (906) |  |  | 222,567 |
Non-interest expense: |  |  |  |  |  |  |
Salaries and wages | 262,863 |  |  | 35,563 |  |  | 811 |  |  | 299,237 |
Employee benefits | 57,537 |  |  | 7,182 |  |  | 53 |  |  | 64,772 |
Net occupancy | 57,008 |  |  | 7,144 |  |  | — |  |  | 64,152 |
Technology, furniture and equipment | 68,045 |  |  | 2,800 |  |  | 101 |  |  | 70,946 |
Deposit insurance | 23,066 |  |  | 41 |  |  | — |  |  | 23,107 |
Other | 94,507 |  |  | 23,118 |  |  | 3,342 |  |  | 120,967 |
Total 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 |
Average assets (in millions) | $ | 49,074 |  |  | $ | 59 |  |  | $ | 9 |  |  | $ | 49,142 |

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- Definition The entire disclosure for reporting segments including data and tables. 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