SAN ANTONIO, April 29, 2016 /PRNewswire/ -- For the seventh consecutive year, Frost Bank received the highest ranking in customer satisfaction in Texas in the J.D. Power 2016 U.S. Retail Banking Satisfaction StudySM. Eleven 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 56 index points above the Texas region average of 806 and 69 points above the national average of 793.
Survey respondents gave Frost very high scores in product offerings, facility, account information, fees, and channel activities—which include branch, website, ATM, call center, and telephone and mobile banking —according to the J.D. Power study. Based on the Power Circle Ratings on JDPower.com, Frost received "among the best" marks in all categories.
"It's always nice to be recognized for our value proposition, which is based on our strong culture," said Frost Chairman and CEO Phil Green. "We stay consistent every time we interact with our customers, and they recognize that and appreciate it. We work to find ways to honor our customers and make their lives better."
J.D. Power has studied retail banking for 11 years, but conducted a separate ranking for Texas banks for only seven years. Frost has topped the Texas list every year since its inception. The customer satisfaction study is the longest-running and most in-depth survey of the retail banking industry, with more than 75,000 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.
About Frost Bank
Frost is the banking, investments and insurance subsidiary of Cullen/Frost Bankers, Inc. (NYSE: CFR), a financial holding company with $28.4 billion in assets at March 31, 2016. 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.