SAN ANTONIO, May 1, 2020 /PRNewswire/ -- For the 11th consecutive year, Frost Bank received the highest ranking in customer satisfaction in Texas, as J.D. Power announced its 2020 U.S. Retail Banking Satisfaction StudySM. The study ranked banks doing business in Texas, including regional and large banks.
With an index score of 863 – 39 points higher than the Texas region average – Frost ranked highest in customer satisfaction among all retail banks in Texas.
"At Frost, we believe if we take care of our customers, recognition will follow," said Frost Chairman and CEO Phil Green. "The way we have taken care of our customers through the unprecedented challenges we've seen this year demonstrates how committed our Frost bankers are and how much we value the relationship we have with our customers.
"That includes the tremendous, heroic work our consumer bankers have done pitching in to help our small-business customers get Paycheck Protection Program loans," Green continued. "That was an unprecedented, historic effort, and it's due to the grit of our people."
J.D. Power has studied retail banking for 15 years, but conducted a separate ranking for Texas banks for only 11 years, and Frost has topped the Texas list in all 11. The customer satisfaction study is the longest-running and most in-depth survey of the retail banking industry, with more than 84,000 customers covering various aspects of their banking experience. The study measures satisfaction in six factors: account opening; channel activities; convenience; product/fees; problem resolution; and communication/advice. Banks are ranked based on overall customer satisfaction in 11 regions.
Frost is the banking, investments and insurance subsidiary of Cullen/Frost Bankers, Inc. (NYSE: CFR), a financial holding company with $34.1 billion in assets at March 31, 2020. One of the 60 largest U.S. banks by asset size, Frost provides a full range of banking investments and insurance services to businesses and individuals in the Austin, Corpus Christi, Dallas, Fort Worth, Houston, Permian Basin, Rio Grande Valley and San Antonio regions. Founded in 1868, Frost has helped Texans with their financial needs during three centuries. For more information, visit www.frostbank.com.
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SOURCE Frost Bank