HOUSTON, Sept. 1, 2017 /PRNewswire/ -- In a meeting with Houston-area employees this morning, Frost Chairman and CEO Phil Green announced that the Frost Bank Charitable Foundation would make donations totaling $1 million to charities assisting those most affected by Hurricane Harvey in the regions where Frost has operations.
"That is by far the largest gift the Foundation has ever made," Green told the employees during a visit where he expressed his appreciation to them for working to reopen Frost financial centers closed by the storm. "It's an unprecedented amount for us, but this was an unprecedented event. And all of you have stepped up and responded in an unprecedented way. This is Frost's way of stepping up too."
Green also announced to employees that Frost will match contributions, up to $100,000, that its employees have made to a fund set up to help employees who suffered damage in the storm.
Frost has eight financial centers and an insurance office in its Corpus Christi region, and 33 financial centers in its Houston region. All were closed by Hurricane Harvey and the flooding that followed it, and nearly all suffered at least some damage. Many Frost employees' houses and possessions were damaged in the storm too. But immediately after the storm passed, Frost employees began working to get the sites reopened to serve customers who needed financial services. Today, all of the Corpus Christi financial centers and all but three of the Houston financial centers are open for business. Frost was the first large bank to reopen locations in the Houston area.
Frost is the banking, investments and insurance subsidiary of Cullen/Frost Bankers, Inc. (NYSE: CFR), a financial holding company with $30.2 billion in assets at June 30, 2017. One of the 50 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.