Frost Bank Announces Expansion Of Houston Operations

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Oct 25, 2018, 09:01 ET

HOUSTON, Oct. 25, 2018 /PRNewswire/ -- Frost Bank, a subsidiary of Cullen/Frost Bankers, Inc. (NYSE: CFR), will nearly double the number of financial centers it has in the Houston region, starting this year and continuing through 2020, the company announced today.

The company expects the expansion will lead to the creation of more than 200 new jobs at Frost in the Houston region and the opening of 25 new financial centers at an average pace of about one per month through 2019 and 2020. Additional economic development in the Houston region will result from design, construction and renovation activities. The new financial centers will be in communities throughout the Houston region, from Conroe in the north and League City in the south to Katy in the west and Baytown in the east, and will include several infill areas in between.

Frost already has 32 financial centers and around 600 employees in Houston, and based on the size and growing economy of the Houston region, Frost sees ample opportunities for expansion in the market.

"While many other banks are reducing their presence, Frost is growing," said Phil Green, Cullen/Frost Chairman and CEO. "Our value proposition, which promises a square deal – excellence at a fair price – and our award-winning customer service will definitely resonate with the fast-growing Houston region."

In addition to the expansion, Frost recently began a significant sponsorship with the Houston Rockets. Fans attending games at the Toyota Center will see significantly expanded Frost signage in the arena. Frost and the Rockets are also in the process of planning several events in the Houston area where customers will be able to interact with players and other team officials.

Frost already has strong roots in Houston, having first expanded there back in 1977. More recently, Frost was the first big bank in the area to rebound from 2017's Hurricane Harvey, reopening branches the day after the storm passed. In September 2017 Frost announced a donation of $1 million from the Frost Bank Charitable Foundation to nonprofits offering relief to those affected by the hurricane.

A 150-year old bank with deep Texas roots, Frost has innovative financial centers that feature a welcoming and interactive customer experience. Frost's new financial centers will offer a full range of financial services for consumer and business customers, including commercial and personal banking and investment services. The modern design includes a "Frost Room" with an online banking center and a Community Room, which offers a state-of-the-art venue for local organizations.

Frost financial centers also boast a welcoming greeter station, where bankers can assist customers with a variety of banking services.

Though contemporary in design, the new facility also includes a number of unique design elements that reflect Frost's local heritage and evoke the Texas spirit. Historic state maps and black-and-white photos of Texas line the walls.

Cullen/Frost Bankers, Inc. (NYSE: CFR) is a financial holding company, headquartered in San Antonio, with $31.2 billion in assets at Sept. 30, 2018. One of the 50 largest U.S. banks, Frost provides a wide range of banking, investments and insurance services to businesses and individuals across Texas in the Austin, Corpus Christi, Dallas, Fort Worth, Houston, Permian Basin, Rio Grande Valley and San Antonio regions. Founded in 1868, Frost has helped clients with their financial needs during three centuries. Additional information is available at frostbank.com.