The following table presents actual and required capital ratios as of December 31, 2022 and December 31, 2021 for Cullen/Frost and Frost Bank under the Basel III Capital Rules. Capital levels required to be considered well capitalized are based upon prompt corrective action regulations, as amended to reflect the changes under the Basel III Capital Rules.


	Actual				Minimum Capital Required Plus Capital Conservation Buffer				Required to be Considered Well Capitalized(1)
	Capital Amount		Ratio		Capital Amount		Ratio		Capital Amount		Ratio
2022
Common Equity Tier 1 to Risk-Weighted Assets
Cullen/Frost	$	3,751,200	12.85	%	$	2,042,876	7.00	%	N/A		N/A
Frost Bank	3,789,056		13.00		2,040,388		7.00		$	1,894,646	6.50	%
Tier 1 Capital to Risk-Weighted Assets
Cullen/Frost	3,896,652		13.35		2,480,635		8.50		1,751,036		6.00
Frost Bank	3,789,056		13.00		2,477,614		8.50		2,331,872		8.00
Total Capital to Risk-Weighted Assets
Cullen/Frost	4,330,982		14.84		3,064,313		10.50		2,918,394		10.00
Frost Bank	4,023,386		13.80		3,060,583		10.50		2,914,841		10.00
Leverage Ratio
Cullen/Frost	3,896,652		7.29		2,136,680		4.00		N/A		N/A
Frost Bank	3,789,056		7.09		2,136,316		4.00		2,670,395		5.00
2021
Common Equity Tier 1 to Risk-Weighted Assets
Cullen/Frost	$	3,371,043	13.13	%	$	1,796,549	7.00	%	N/A		N/A
Frost Bank	3,261,532		12.72		1,795,221		7.00		$	1,666,991	6.50	%
Tier 1 Capital to Risk-Weighted Assets
Cullen/Frost	3,516,495		13.70		2,181,523		8.50		1,539,899		6.00
Frost Bank	3,261,532		12.72		2,179,911		8.50		2,051,681		8.00
Total Capital to Risk-Weighted Assets
Cullen/Frost	3,966,244		15.45		2,694,823		10.50		2,566,498		10.00
Frost Bank	3,491,281		13.61		2,692,831		10.50		2,564,601		10.00
Leverage Ratio
Cullen/Frost	3,516,495		7.34		1,917,533		4.00		N/A		N/A
Frost Bank	3,261,532		6.80		1,917,679		4.00		2,397,099		5.00