SAN ANTONIO, April 30, 2015 /PRNewswire/ -- For the sixth consecutive year, Frost Bank has received the highest ranking in customer satisfaction in Texas in the J.D. Power and Associates 2015 U.S. Retail Banking Satisfaction StudySM. Fourteen retail banks in Texas were ranked, including regional and large banks.
With an index score of 862, Frost ranked highest in customer satisfaction among all retail banks in Texas. That is 58 index points above the Texas region average of 804 and 72 points above the national average of 790.
Survey respondents gave Frost particularly high satisfaction marks for product offerings, facility, account information, fees, and channel activities—which include branch, website, ATM, call center, IVR and mobile —according to the J.D. Power and Associates study. Based on the Power Circle Ratings on JDPower.com, Frost received "among the best" marks in all factors.
"It is humbling to receive this recognition from J.D. Power for the sixth consecutive year because it reflects how Frost customers feel about their experience in banking with us," said Dick Evans, Frost chairman and CEO. "Frost continues to set the bar for the industry in terms of excellence in customer satisfaction, but that doesn't mean we're content to rest on our laurels. We continually strive to improve the customer experience across all regions of our company and across all platforms and touch points.
"While our bankers do an outstanding job in taking care of our customers, employees in support roles also excel in delivering service excellence and living out the Frost culture. Our entire staff should be proud of this award."
Although this is the tenth year J.D. Power has studied retail banking, it is only the sixth year they've conducted a separate ranking for banks in Texas. Frost has maintained its highest ranking since it was first included when J.D. Power began conducting a separate ranking for banks in Texas in 2010.
The tenth annual customer satisfaction study is the longest-running and most in-depth survey of the retail banking industry, with more than 80,000 customers covering various aspects of their banking experience. The study measures satisfaction in six factors: account information; channel activities; facility; fees; problem resolution; and product offerings. Banks are ranked based on overall customer satisfaction in 11 regions.
Last year, Frost Bank was recognized as a J.D. Power 2014 Customer Champion, one of only 50 U.S. companies to receive this accolade.
About Frost Bank
Frost is the banking, investments and insurance subsidiary of Cullen/Frost Bankers, Inc. (NYSE: CFR), a financial holding company with $28.2 billion in assets at March 31, 2015. One of 24 banks included in the KBW Bank Index and a top-50 U.S. bank by asset size, Frost provides a full range of business and consumer banking products, investment and brokerage services, insurance products and investment banking 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.