The following table presents actual and required capital ratios as of June 30, 2025 and December 31, 2024, 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. See the 2024 Form 10-K for a more detailed discussion of 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
June 30, 2025
Common Equity Tier 1 to Risk-Weighted Assets
Cullen/Frost	$	4,522,416	13.98	%	$	2,264,455	7.00	%	N/A		N/A
Frost Bank	4,536,485		14.03		2,263,613		7.00		$	2,101,926	6.50	%
Tier 1 Capital to Risk-Weighted Assets
Cullen/Frost	4,667,868		14.43		2,749,695		8.50		1,940,961		6.00
Frost Bank	4,536,485		14.03		2,748,673		8.50		2,586,986		8.00
Total Capital to Risk-Weighted Assets
Cullen/Frost	5,135,590		15.88		3,396,683		10.50		3,234,936		10.00
Frost Bank	4,864,207		15.04		3,395,419		10.50		3,233,732		10.00
Leverage Ratio
Cullen/Frost	4,667,868		8.98		2,080,263		4.00		N/A		N/A
Frost Bank	4,536,485		8.72		2,080,532		4.00		2,600,665		5.00

December 31, 2024
Common Equity Tier 1 to Risk-Weighted Assets
Cullen/Frost	$	4,343,666	13.62	%	$	2,232,822	7.00	%	N/A		N/A
Frost Bank	4,387,862		13.76		2,231,710		7.00		$	2,072,302	6.50	%
Tier 1 Capital to Risk-Weighted Assets
Cullen/Frost	4,489,118		14.07		2,711,283		8.50		1,913,847		6.00
Frost Bank	4,387,862		13.76		2,709,934		8.50		2,550,526		8.00
Total Capital to Risk-Weighted Assets
Cullen/Frost	4,954,136		15.53		3,349,232		10.50		3,189,745		10.00
Frost Bank	4,692,880		14.72		3,347,565		10.50		3,188,157		10.00
Leverage Ratio
Cullen/Frost	4,489,118		8.63		2,079,715		4.00		N/A		N/A
Frost Bank	4,387,862		8.44		2,079,965		4.00		2,599,956		5.00