
	Banking		Frost Wealth Advisors		Non-Banks		Consolidated
Three months ended:
June 30, 2025
Interest income	$	599,875	$	2,083	$	—	$	601,958
Interest expense	169,150		99		3,105		172,354
Net interest income (expense)	430,725		1,984		(3,105)		429,604
Credit loss expense	13,129		—		—		13,129
Net interest income after credit loss expense	417,596		1,984		(3,105)		416,475
Non-interest income:
Trust and investment management fees	—		43,844		(175)		43,669
Service charges on deposit accounts	29,149		2		—		29,151
Insurance commissions and fees	13,879		—		—		13,879
Interchange and card transaction fees	5,619		—		—		5,619
Other charges, commissions and fees	8,031		5,936		—		13,967
Net gain (loss) on securities transactions	—		—		—		—
Other	9,002		1,928		58		10,988
Total non-interest income	65,680		51,710		(117)		117,273
Non-interest expense:
Salaries and wages	142,089		19,664		396		162,149
Employee benefits	29,244		3,557		25		32,826
Net occupancy	30,893		3,747		—		34,640
Technology, furniture and equipment	39,178		1,344		50		40,572
Deposit insurance	6,579		11		—		6,590
Other	54,412		13,414		2,525		70,351
Total non-interest expense	302,395		41,737		2,996		347,128
Income (loss) before income taxes	180,881		11,957		(6,218)		186,620
Income tax expense (benefit)	28,891		2,511		(1,785)		29,617
Net income (loss)	151,990		9,446		(4,433)		157,003
Preferred stock dividends	—		—		1,669		1,669
Net income (loss) available to common shareholders	$	151,990	$	9,446	$	(6,102)	$	155,334
Revenues from (expenses to) external customers	$	496,405	$	53,694	$	(3,222)	$	546,877
Average assets (in millions)	$	51,117	$	65	$	9	$	51,191


	Banking		Frost Wealth Advisors		Non-Banks		Consolidated
Three months ended:
June 30, 2024
Interest income	$	594,264	$	2,021	$	—	$	596,285
Interest expense	202,924		114		(3,465)		199,573
Net interest income (expense)	398,270		1,907		(3,465)		396,712
Credit loss expense	15,787		—		—		15,787
Net interest income after credit loss expense	382,483		1,907		(3,465)		380,925
Non-interest income:
Trust and investment management fees	—		41,950		(546)		41,404
Service charges on deposit accounts	26,111		3		—		26,114
Insurance commissions and fees	13,919		—		—		13,919
Interchange and card transaction fees	5,351		—		—		5,351
Other charges, commissions and fees	7,364		5,656		—		13,020
Net gain (loss) on securities transactions	—		—		—		—
Other	9,433		1,880		69		11,382
Total non-interest income	62,178		49,489		(477)		111,190
Non-interest expense:
Salaries and wages	132,831		18,001		405		151,237
Employee benefits	25,663		3,112		27		28,802
Net occupancy	28,872		3,502		—		32,374
Technology, furniture and equipment	34,530		1,368		53		35,951
Deposit insurance	8,353		30		—		8,383
Other	45,947		11,862		2,408		60,217
Total non-interest expense	276,196		37,875		2,893		316,964
Income (loss) before income taxes	168,465		13,521		(6,835)		175,151
Income tax expense (benefit)	28,819		2,839		(2,006)		29,652
Net income (loss)	139,646		10,682		(4,829)		145,499
Preferred stock dividends	—		—		1,669		1,669
Net income (loss) available to common shareholders	$	139,646	$	10,682	$	(6,498)	$	143,830
Revenues from (expenses to) external customers	$	460,448	$	51,396	$	(3,942)	$	507,902
Average assets (in millions)	$	48,897	$	54	$	9	$	48,960


	Banking		Frost Wealth Advisors		Non-Banks		Consolidated
Six months ended:
June 30, 2025
Interest income	$	1,183,116	$	3,959	$	—	$	1,187,075
Interest expense	334,850		188		6,213		341,251
Net interest income (expense)	848,266		3,771		(6,213)		845,824
Credit loss expense	26,199		—		—		26,199
Net interest income after credit loss expense	822,067		3,771		(6,213)		819,625
Non-interest income:
Trust and investment management fees	—		87,388		(788)		86,600
Service charges on deposit accounts	57,767		5		—		57,772
Insurance commissions and fees	34,898		—		—		34,898
Interchange and card transaction fees	11,021		—		—		11,021
Other charges, commissions and fees	15,437		12,116		—		27,553
Net gain (loss) on securities transactions	(14)		—		—		(14)
Other	20,387		2,951		116		23,454
Total non-interest income	139,496		102,460		(672)		241,284
Non-interest expense:
Salaries and wages	283,181		39,033		792		323,006
Employee benefits	66,582		8,351		50		74,983
Net occupancy	60,629		7,288		—		67,917
Technology, furniture and equipment	77,735		2,852		103		80,690
Deposit insurance	13,750		24		—		13,774
Other	105,240		26,054		3,530		134,824
Total non-interest expense	607,117		83,602		4,475		695,194
Income (loss) before income taxes	354,446		22,629		(11,360)		365,715
Income tax expense (benefit)	56,417		4,752		(3,379)		57,790
Net income (loss)	298,029		17,877		(7,981)		307,925
Preferred stock dividends	—		—		3,338		3,338
Net income (loss) available to common shareholders	$	298,029	$	17,877	$	(11,319)	$	304,587
Revenues from (expenses to) external customers	$	987,762	$	106,231	$	(6,885)	$	1,087,108
Average assets (in millions)	$	50,987	$	68	$	9	$	51,064


	Banking		Frost Wealth Advisors		Non-Banks		Consolidated
Six months ended:
June 30, 2024
Interest income	$	1,177,993	$	3,792	$	—	$	1,181,785
Interest expense	387,918		216		6,888		395,022
Net interest income (expense)	790,075		3,576		(6,888)		786,763
Credit loss expense	29,437		—		—		29,437
Net interest income after credit loss expense	760,638		3,576		(6,888)		757,326
Non-interest income:
Trust and investment management fees	—		81,530		(1,041)		80,489
Service charges on deposit accounts	50,903		6		—		50,909
Insurance commissions and fees	32,215		—		—		32,215
Interchange and card transaction fees	9,825		—		—		9,825
Other charges, commissions and fees	14,489		10,591		—		25,080
Net gain (loss) on securities transactions	—		—		—		—
Other	21,126		2,788		135		24,049
Total non-interest income	128,558		94,915		(906)		222,567
Non-interest expense:
Salaries and wages	262,863		35,563		811		299,237
Employee benefits	57,537		7,182		53		64,772
Net occupancy	57,008		7,144		—		64,152
Technology, furniture and equipment	68,045		2,800		101		70,946
Deposit insurance	23,066		41		—		23,107
Other	94,507		23,118		3,342		120,967
Total non-interest expense	563,026		75,848		4,307		643,181
Income (loss) before income taxes	326,170		22,643		(12,101)		336,712
Income tax expense (benefit)	54,454		4,755		(3,686)		55,523
Net income (loss)	271,716		17,888		(8,415)		281,189
Preferred stock dividends	—		—		3,338		3,338
Net income (loss) available to common shareholders	$	271,716	$	17,888	$	(11,753)	$	277,851
Revenues from (expenses to) external customers	$	918,633	$	98,491	$	(7,794)	$	1,009,330
Average assets (in millions)	$	49,074	$	59	$	9	$	49,142