10-Q

United States

Securities and Exchange Commission

Washington, D.C. 20549

Form 10-Q

☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarterly period ended: June 30, 2022

Or

☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period from ________________ to ________________

Commission file number: 001-13221

Cullen/Frost Bankers, Inc.

(Exact name of registrant as specified in its charter)

Texas			74-1751768
(State or other jurisdiction of incorporation or organization)			(I.R.S. Employer Identification No.)
111 W. Houston Street,	San Antonio,	Texas	78205
(Address of principal executive offices)			(Zip code)

	(210)	220-4011
(Registrant's telephone number, including area code)

N/A

(Former name, former address and former fiscal year, if changed since last report

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $.01 Par Value	CFR	New York Stock Exchange
Depositary Shares, each representing a 1/40th interest in a share of 4.450% Non-Cumulative Perpetual Preferred Stock, Series B	CFR.PrB	New York Stock Exchange

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.     Yes  ☒    No  ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes  ☒    No  ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☒	Accelerated filer	☐
Non-accelerated filer	☐	Smaller reporting company	☐
		Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ☐    No  ☒

As of July 21, 2022 there were 64,127,979 shares of the registrant’s Common Stock, $.01 par value, outstanding.

Cullen/Frost Bankers, Inc.

Quarterly Report on Form 10-Q

June 30, 2022

Table of Contents

		Page
Part I - Financial Information
Item 1.	Financial Statements (Unaudited)
	Consolidated Balance Sheets	3
	Consolidated Statements of Income	4
	Consolidated Statements of Comprehensive Income (Loss)	5
	Consolidated Statements of Changes in Shareholders’ Equity	6
	Consolidated Statements of Cash Flows	8
	Notes to Consolidated Financial Statements	9
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	37
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	63
Item 4.	Controls and Procedures	63
Part II - Other Information
Item 1.	Legal Proceedings	64
Item 1A.	Risk Factors	64
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	64
Item 3.	Defaults Upon Senior Securities	64
Item 4.	Mine Safety Disclosures	64
Item 5.	Other Information	64
Item 6.	Exhibits	65
Signatures		66

2

Part I. Financial Information

Item 1. Financial Statements (Unaudited)

Cullen/Frost Bankers, Inc.

Consolidated Balance Sheets

(Dollars in thousands, except per share amounts)

	June 30, 2022		December 31, 2021
Assets:
Cash and due from banks	$	743,098	$	555,778
Interest-bearing deposits	12,809,937		15,985,244
Federal funds sold	95,900		34,075
Resell agreements	9,650		7,903
Total cash and cash equivalents	13,658,585		16,583,000
Securities held to maturity, net of allowance for credit losses of $158 at June 30, 2022 and $158 at December 31, 2021	1,946,428		1,749,179
Securities available for sale, at estimated fair value	16,781,685		13,924,628
Trading account securities	24,680		25,162
Loans, net of unearned discounts	16,736,026		16,336,397
Less: Allowance for credit losses on loans	(239,632)		(248,666)
Net loans	16,496,394		16,087,731
Premises and equipment, net	1,046,495		1,050,331
Goodwill	654,952		654,952
Other intangible assets, net	589		866
Cash surrender value of life insurance policies	189,823		190,139
Accrued interest receivable and other assets	985,257		612,502
Total assets	$	51,784,888	$	50,878,490
Liabilities:
Deposits:
Non-interest-bearing demand deposits	$	18,783,931	$	18,423,018
Interest-bearing deposits	26,817,834		24,272,678
Total deposits	45,601,765		42,695,696
Federal funds purchased	43,200		25,925
Repurchase agreements	1,664,685		2,740,799
Junior subordinated deferrable interest debentures, net of unamortized issuance costs	123,040		123,011
Subordinated notes, net of unamortized issuance costs	99,256		99,178
Accrued interest payable and other liabilities	905,967		754,326
Total liabilities	48,437,913		46,438,935
Shareholders’ Equity:
Preferred stock, par value $0.01 per share; 10,000,000 shares authorized; 150,000 Series B shares ($1,000 liquidation preference) issued at June 30, 2022 and December 31, 2021	145,452		145,452
Common stock, par value $0.01 per share; 210,000,000 shares authorized; 64,236,306 shares issued at June 30, 2022 and December 31, 2021	642		642
Additional paid-in capital	1,015,451		1,009,921
Retained earnings	3,070,109		2,956,966
Accumulated other comprehensive income (loss), net of tax	(874,206)		347,318
Treasury stock, at cost; 113,267 shares at June 30, 2022 and 250,070 shares at December 31, 2021	(10,473)		(20,744)
Total shareholders’ equity	3,346,975		4,439,555
Total liabilities and shareholders’ equity	$	51,784,888	$	50,878,490

See Notes to Consolidated Financial Statements.

3

Cullen/Frost Bankers, Inc.

Consolidated Statements of Income

(Dollars in thousands, except per share amounts)

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Interest income:
Loans, including fees	$	166,679	$	182,695	$	316,656	$	350,178
Securities:
Taxable	56,365		20,602		99,423		40,630
Tax-exempt	57,078		56,111		113,944		112,774
Interest-bearing deposits	26,371		3,614		32,714		6,047
Federal funds sold	99		8		112		11
Resell agreements	10		4		14		5
Total interest income	306,602		263,034		562,863		509,645
Interest expense:
Deposits	14,593		3,499		19,505		7,016
Federal funds purchased	75		7		87		15
Repurchase agreements	1,790		570		2,308		965
Junior subordinated deferrable interest debentures	772		638		1,356		1,284
Subordinated notes	1,164		1,164		2,328		2,328
Total interest expense	18,394		5,878		25,584		11,608
Net interest income	288,208		257,156		537,279		498,037
Credit loss expense	—		—		—		63
Net interest income after credit loss expense	288,208		257,156		537,279		497,974
Non-interest income:
Trust and investment management fees	37,776		37,874		76,432		73,188
Service charges on deposit accounts	23,870		19,849		46,610		39,842
Insurance commissions and fees	11,776		10,773		28,384		28,086
Interchange and card transaction fees	4,911		4,641		9,137		8,734
Other charges, commissions and fees	9,887		8,640		19,514		16,944
Net gain (loss) on securities transactions	—		—		—		—
Other	9,707		9,470		19,240		17,689
Total non-interest income	97,927		91,247		199,317		184,483
Non-interest expense:
Salaries and wages	116,881		97,035		228,210		190,493
Employee benefits	20,733		18,728		44,953		41,264
Net occupancy	28,379		26,650		55,790		52,701
Technology, furniture and equipment	29,921		27,998		59,078		56,014
Deposit insurance	3,724		2,877		7,357		5,805
Intangible amortization	131		185		277		387
Other	46,578		41,781		89,414		78,732
Total non-interest expense	246,347		215,254		485,079		425,396
Income before income taxes	139,788		133,149		251,517		257,061
Income taxes	20,674		15,081		33,301		22,978
Net income	119,114		118,068		218,216		234,083
Preferred stock dividends	1,669		1,669		3,338		3,820
Net income available to common shareholders	$	117,445	$	116,399	$	214,878	$	230,263
Earnings per common share:
Basic	$	1.82	$	1.81	$	3.32	$	3.59
Diluted	1.81		1.80		3.31		3.57

See Notes to Consolidated Financial Statements.

4

Cullen/Frost Bankers, Inc.

Consolidated Statements of Comprehensive Income (Loss)

(Dollars in thousands)

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Net income	$	119,114	$	118,068	$	218,216	$	234,083
Other comprehensive income (loss), before tax:
Securities available for sale and transferred securities:
Change in net unrealized gain/loss during the period	(636,523)		30,668		(1,547,318)		(129,111)
Change in net unrealized gain on securities transferred to held to maturity	(189)		(245)		(398)		(504)
Reclassification adjustment for net (gains) losses included in net income	—		—		—		—
Total securities available for sale and transferred securities	(636,712)		30,423		(1,547,716)		(129,615)
Defined-benefit post-retirement benefit plans:
Reclassification adjustment for net amortization of actuarial gain/loss included in net income as a component of net periodic cost (benefit)	741		1,529		1,482		3,058
Total defined-benefit post-retirement benefit plans	741		1,529		1,482		3,058
Other comprehensive income (loss), before tax	(635,971)		31,952		(1,546,234)		(126,557)
Deferred tax expense (benefit)	(133,555)		6,710		(324,710)		(26,577)
Other comprehensive income (loss), net of tax	(502,416)		25,242		(1,221,524)		(99,980)
Comprehensive income (loss)	$	(383,302)	$	143,310	$	(1,003,308)	$	134,103

See Notes to Consolidated Financial Statements.

5

Cullen/Frost Bankers, Inc.

Consolidated Statements of Changes in Shareholders’ Equity

(Dollars in thousands, except per share amounts)

	Preferred Stock		Common Stock		Additional Paid-In Capital		Retained Earnings		Accumulated Other Comprehensive Income (Loss), Net of Tax		Treasury Stock		Total
Three months ended:
June 30, 2022
Balance at beginning of period	$	145,452	$	642	$	1,012,033	$	3,002,642	$	(371,790)	$	(12,687)	$	3,776,292
Net income	—		—		—		119,114		—		—		119,114
Other comprehensive income (loss), net of tax	—		—		—		—		(502,416)		—		(502,416)
Stock option exercises/stock unit conversions (28,832 shares)	—		—		—		(1,463)		—		2,214		751
Stock-based compensation expense recognized in earnings	—		—		3,418		—		—		—		3,418
Cash dividends – Series B preferred stock (approximately $11.13 per share which is equivalent to approximately $0.28 per depositary share)	—		—		—		(1,669)		—		—		(1,669)
Cash dividends – common stock ($0.75 per share)	—		—		—		(48,515)		—		—		(48,515)
Balance at end of period	$	145,452	$	642	$	1,015,451	$	3,070,109	$	(874,206)	$	(10,473)	$	3,346,975
June 30, 2021
Balance at beginning of period	$	145,452	$	642	$	999,694	$	2,797,064	$	387,748	$	(62,682)	$	4,267,918
Net income	—		—		—		118,068		—		—		118,068
Other comprehensive income (loss), net of tax	—		—		—		—		25,242		—		25,242
Stock option exercises/stock unit conversions (114,252 shares)	—		—		—		(4,225)		—		11,510		7,285
Stock-based compensation expense recognized in earnings	—		—		3,245		—		—		—		3,245
Cash dividends – Series B preferred stock (approximately $11.13 per share which is equivalent to approximately $0.28 per depositary share)	—		—		—		(1,669)		—		—		(1,669)
Cash dividends – common stock ($0.72 per share)	—		—		—		(46,272)		—		—		(46,272)
Balance at end of period	$	145,452	$	642	$	1,002,939	$	2,862,966	$	412,990	$	(51,172)	$	4,373,817

See accompanying Notes to Consolidated Financial Statements

6

Cullen/Frost Bankers, Inc.

Consolidated Statements of Changes in Shareholders’ Equity

(Dollars in thousands, except per share amounts)

	Preferred Stock		Common Stock		Additional Paid-In Capital		Retained Earnings		Accumulated Other Comprehensive Income (Loss), Net of Tax		Treasury Stock		Total
Six months ended:
June 30, 2022
Balance at beginning of period	$	145,452	$	642	$	1,009,921	$	2,956,966	$	347,318	$	(20,744)	$	4,439,555
Net income	—		—		—		218,216		—		—		218,216
Other comprehensive income (loss), net of tax	—		—		—		—		(1,221,524)		—		(1,221,524)
Stock option exercises/stock unit conversions (144,262 shares)	—		—		—		(4,777)		—		11,267		6,490
Stock-based compensation expense recognized in earnings	—		—		5,530		—		—		—		5,530
Purchase of treasury stock (7,459 shares)	—		—		—		—		—		(996)		(996)
Cash dividends – Series B preferred stock (approximately $22.25 per share which is equivalent to approximately $0.56 per depositary share)	—		—		—		(3,338)		—		—		(3,338)
Cash dividends – common stock ($1.50 per share)	—		—		—		(96,958)		—		—		(96,958)
Balance at end of period	$	145,452	$	642	$	1,015,451	$	3,070,109	$	(874,206)	$	(10,473)	$	3,346,975
June 30, 2021
Balance at beginning of period	$	145,452	$	642	$	997,168	$	2,750,723	$	512,970	$	(113,939)	$	4,293,016
Net income	—		—		—		234,083		—		—		234,083
Other comprehensive income (loss), net of tax	—		—		—		—		(99,980)		—		(99,980)
Stock option exercises/stock unit conversions (628,076 shares)	—		—		—		(25,567)		—		62,249		36,682
Stock-based compensation expense recognized in earnings	—		—		5,771		—		—		—		5,771
Purchase of treasury stock (11,625 shares)	—		—		—		—		—		(1,288)		(1,288)
Treasury stock issued to the 401(k) stock purchase plan (18,555 shares)	—		—		—		(57)		—		1,806		1,749
Cash dividends – Series B preferred stock (approximately $25.46 per share which is equivalent to approximately $0.64 per depositary share)	—		—		—		(3,820)		—		—		(3,820)
Cash dividends – common stock ($1.44 per share)	—		—		—		(92,396)		—		—		(92,396)
Balance at end of period	$	145,452	$	642	$	1,002,939	$	2,862,966	$	412,990	$	(51,172)	$	4,373,817

See accompanying Notes to Consolidated Financial Statements

7

Cullen/Frost Bankers, Inc.

Consolidated Statements of Cash Flows

(Dollars in thousands)

	Six Months Ended June 30,
	2022		2021
Operating Activities:
Net income	$	218,216	$	234,083
Adjustments to reconcile net income to net cash from operating activities:
Credit loss expense	—		63
Deferred tax expense (benefit)	(2,404)		5,188
Accretion of loan discounts	(6,581)		(6,577)
Securities premium amortization (discount accretion), net	53,225		60,434
Net (gain) loss on securities transactions	—		—
Depreciation and amortization	35,406		34,060
Net (gain) loss on sale/write-down of assets/foreclosed assets	103		(1,876)
Stock-based compensation	5,530		5,771
Net tax benefit from stock-based compensation	1,645		4,218
Earnings on life insurance policies	(1,016)		(1,343)
Net change in:
Trading account securities	482		319
Lease right-of-use assets	12,042		11,697
Accrued interest receivable and other assets	(135,239)		(39,195)
Accrued interest payable and other liabilities	113,645		41,748
Net cash from operating activities	295,054		348,590
Investing Activities:
Securities held to maturity:
Purchases	(411,527)		—
Maturities, calls and principal repayments	263,226		122,416
Securities available for sale:
Purchases	(4,778,475)		(801,167)
Sales	—		—
Maturities, calls and principal repayments	382,152		576,763
Proceeds from sale of loans	2,365		—
Net change in loans	(404,515)		884,799
Benefits received on life insurance policies	1,332		1,509
Proceeds from sales of premises and equipment	18		6,436
Purchases of premises and equipment	(28,016)		(28,053)
Proceeds from sales of repossessed properties	1,543		100
Net cash from investing activities	(4,971,897)		762,803
Financing Activities:
Net change in deposits	2,906,069		3,718,379
Net change in short-term borrowings	(1,058,839)		126,592
Proceeds from stock option exercises	6,490		36,682
Purchase of treasury stock	(996)		(1,288)
Cash dividends paid on preferred stock	(3,338)		(3,820)
Cash dividends paid on common stock	(96,958)		(92,396)
Net cash from financing activities	1,752,428		3,784,149
Net change in cash and cash equivalents	(2,924,415)		4,895,542
Cash and cash equivalents at beginning of period	16,583,000		10,288,853
Cash and cash equivalents at end of period	$	13,658,585	$	15,184,395

See Notes to Consolidated Financial Statements.

8

Notes to Consolidated Financial Statements

(Table amounts in thousands, except for share and per share amounts)

Note 1 - Significant Accounting Policies

Nature of Operations. Cullen/Frost Bankers, Inc. (“Cullen/Frost”) is a financial holding company and a bank holding company headquartered in San Antonio, Texas that provides, through its subsidiaries, a broad array of products and services throughout numerous Texas markets. The terms “Cullen/Frost,” “the Corporation,” “we,” “us” and “our” mean Cullen/Frost Bankers, Inc. and its subsidiaries, when appropriate. In addition to general commercial and consumer banking, other products and services offered include trust and investment management, insurance, brokerage, mutual funds, leasing, treasury management, capital markets advisory and item processing.

Basis of Presentation. The consolidated financial statements in this Quarterly Report on Form 10-Q include the accounts of Cullen/Frost and all other entities in which Cullen/Frost has a controlling financial interest. All significant intercompany balances and transactions have been eliminated in consolidation. The accounting and financial reporting policies we follow conform, in all material respects, to accounting principles generally accepted in the United States and to general practices within the financial services industry.

The consolidated financial statements in this Quarterly Report on Form 10-Q have not been audited by an independent registered public accounting firm, but in the opinion of management, reflect all adjustments necessary for a fair presentation of our financial position and results of operations. All such adjustments were of a normal and recurring nature. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q adopted by the Securities and Exchange Commission (“SEC”). Accordingly, the financial statements do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements and should be read in conjunction with our consolidated financial statements, and notes thereto, for the year ended December 31, 2021, included in our Annual Report on Form 10-K filed with the SEC on February 4, 2022 (the “2021 Form 10-K”). Operating results for the interim periods disclosed herein are not necessarily indicative of the results that may be expected for a full year or any future period.

Use of Estimates. The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates. The allowance for loan losses and the fair values of financial instruments and the status of contingencies are particularly subject to change.

Cash Flow Reporting. Additional cash flow information was as follows:

	Six Months Ended June 30,
	2022		2021
Cash paid for interest	$	22,551	$	15,936
Cash paid for income taxes	45,500		15,400
Significant non-cash transactions:
Unsettled securities transactions	110,623		358,752
Loans foreclosed and transferred to other real estate owned and foreclosed assets	—		3,251
Right-of-use lease assets obtained in exchange for lessee operating lease liabilities	8,857		1,552
Treasury stock issued to 401(k) stock purchase plan	—		1,749

Accounting Changes, Reclassifications and Restatements. Certain items in prior financial statements have been reclassified to conform to the current presentation.

9

Note 2 - Securities

Securities - Held to Maturity. A summary of the amortized cost, fair value and allowance for credit losses related to securities held to maturity as of June 30, 2022 and December 31, 2021 is presented below.

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value		Allowance for Credit Losses		Net Carrying Amount
June 30, 2022
Residential mortgage-backed securities	$	526,675	$	—	$	40,383	$	486,292	$	—	$	526,675
States and political subdivisions	1,418,411		3,956		81,583		1,340,784		(158)		1,418,253
Other	1,500		—		61		1,439		—		1,500
Total	$	1,946,586	$	3,956	$	122,027	$	1,828,515	$	(158)	$	1,946,428
December 31, 2021
Residential mortgage-backed securities	$	527,264	$	18,766	$	—	$	546,030	$	—	$	527,264
States and political subdivisions	1,220,573		41,141		101		1,261,613		(158)		1,220,415
Other	1,500		—		—		1,500		—		1,500
Total	$	1,749,337	$	59,907	$	101	$	1,809,143	$	(158)	$	1,749,179

All mortgage-backed securities included in the above table were issued by U.S. government agencies and corporations. The carrying value of held-to-maturity securities pledged to secure public funds, trust deposits, repurchase agreements and for other purposes, as required or permitted by law was $245.5 million and $642.3 million at June 30, 2022 and December 31, 2021, respectively. Accrued interest receivable on held-to-maturity securities totaled $18.0 million and $18.4 million at June 30, 2022 and December 31, 2021, respectively and is included in accrued interest receivable and other assets in the accompanying consolidated balance sheets.

From time to time, we have reclassified certain securities from available for sale to held to maturity. The net unamortized, unrealized gain remaining on transferred securities included in accumulated other comprehensive income in the accompanying balance sheet totaled $2.1 million ($1.7 million, net of tax) at June 30, 2022 and $2.5 million ($2.0 million, net of tax) at December 31, 2021. This amount will be amortized out of accumulated other comprehensive income over the remaining life of the underlying securities as an adjustment of the yield on those securities.

The following table summarizes Moody's and/or Standard & Poor's bond ratings for our portfolio of held-to-maturity securities issued by States and political subdivisions and other securities as of June 30, 2022 and December 31, 2021:

	States and Political Subdivisions
	Not Guaranteed or Pre-Refunded		Guaranteed by the Texas PSF		Pre-Refunded		Total		Other Securities
June 30, 2022
Aaa/AAA	$	161,274	$	764,405	$	344,335	$	1,270,014	$	—
Aa/AA	148,397		—		—		148,397		—
Not rated	—		—		—		—		1,500
Total	$	309,671	$	764,405	$	344,335	$	1,418,411	$	1,500
December 31, 2021
Aaa/AAA	$	92,379	$	460,648	$	563,251	$	1,116,278	$	—
Aa/AA	104,295		—		—		104,295		—
Not rated	—		—		—		—		1,500
Total	$	196,674	$	460,648	$	563,251	$	1,220,573	$	1,500

10

The following table details activity in the allowance for credit losses on held-to-maturity securities during the three and six months ended June 30, 2022 and 2021.

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Beginning balance	$	158	$	158	$	158	$	160
Credit loss expense (benefit)	—		—		—		(2)
Ending balance	$	158	$	158	$	158	$	158

Securities - Available for Sale. A summary of the amortized cost, fair value and allowance for credit losses related to securities available for sale as of June 30, 2022 and December 31, 2021 is presented below.

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Estimated Fair Value
June 30, 2022
U.S. Treasury	$	4,656,896	$	2,093	$	242,690	$	—	$	4,416,299
Residential mortgage-backed securities	5,967,803		3,443		635,521		—		5,335,725
States and political subdivisions	7,183,199		50,465		246,368		—		6,987,296
Other	42,365		—		—		—		42,365
Total	$	17,850,263	$	56,001	$	1,124,579	$	—	$	16,781,685
December 31, 2021
U.S. Treasury	$	2,165,702	$	23,333	$	9,602	$	—	$	2,179,433
Residential mortgage-backed securities	4,059,692		31,662		25,089		—		4,066,265
States and political subdivisions	7,178,135		463,810		5,374		—		7,636,571
Other	42,359		—		—		—		42,359
Total	$	13,445,888	$	518,805	$	40,065	$	—	$	13,924,628

All mortgage-backed securities included in the above table were issued by U.S. government agencies and corporations. At June 30, 2022, all of the securities in our available for sale municipal bond portfolio were issued by the State of Texas or political subdivisions or agencies within the State of Texas, of which approximately 75.3% are either guaranteed by the PSF or have been pre-refunded. Securities with limited marketability, such as stock in the Federal Reserve Bank and the Federal Home Loan Bank, are carried at cost and are reported as other available for sale securities in the table above. The carrying value of available-for-sale securities pledged to secure public funds, trust deposits, repurchase agreements and for other purposes, as required or permitted by law was $4.4 billion and $5.8 billion at June 30, 2022 and December 31, 2021, respectively. Accrued interest receivable on available-for-sale securities totaled $131.3 million and $120.5 million at June 30, 2022 and December 31, 2021, respectively, and is included in accrued interest receivable and other assets in the accompanying consolidated balance sheets.

The table below summarizes, as of June 30, 2022, securities available for sale in an unrealized loss position for which an allowance for credit losses has not been recorded, aggregated by type of security and length of time in a continuous unrealized loss position.

	Less than 12 Months				More than 12 Months				Total
	Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses
U.S. Treasury	$	4,224,018	$	242,690	$	—	$	—	$	4,224,018	$	242,690
Residential mortgage-backed securities	4,825,871		568,405		369,098		67,116		5,194,969		635,521
States and political subdivisions	3,249,625		241,884		13,824		4,484		3,263,449		246,368
Total	$	12,299,514	$	1,052,979	$	382,922	$	71,600	$	12,682,436	$	1,124,579

As of June 30, 2022, no allowance for credit losses has been recognized on available for sale securities in an unrealized loss position as management does not believe any of the securities are impaired due to reasons of credit quality. This is based upon our analysis of the underlying risk characteristics, including credit ratings, and other qualitative factors related to our available for sale securities and in consideration of our historical credit loss experience and internal forecasts. The issuers of these securities continue to make timely principal and interest payments under the contractual terms of the securities. Furthermore, management does not have the intent to sell any of the securities classified as available for sale in the table above and believes that it is more likely than not that we will not have to sell any such securities before a recovery of cost. The unrealized losses

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are due to increases in market interest rates over the yields available at the time the underlying securities were purchased. The fair value is expected to recover as the securities approach their maturity date or repricing date or if market yields for such investments decline.

Contractual Maturities. The following table summarizes the maturity distribution schedule of securities held to maturity and securities available for sale as of June 30, 2022. Mortgage-backed securities are included in maturity categories based on their stated maturity date. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Other securities classified as available for sale include stock in the Federal Reserve Bank and the Federal Home Loan Bank, which have no maturity date. These securities have been included in the total column only.

	Within 1 Year		1 - 5 Years		5 - 10 Years		After 10 Years		Total
Held To Maturity
Amortized Cost
Residential mortgage-backed securities	$	3	$	—	$	514,582	$	12,090	$	526,675
States and political subdivisions	350,365		84,053		22,102		961,891		1,418,411
Other	—		1,500		—		—		1,500
Total	$	350,368	$	85,553	$	536,684	$	973,981	$	1,946,586
Estimated Fair Value
Residential mortgage-backed securities	$	3	$	—	$	475,721	$	10,568	$	486,292
States and political subdivisions	351,237		84,787		22,166		882,594		1,340,784
Other	—		1,439		—		—		1,439
Total	$	351,240	$	86,226	$	497,887	$	893,162	$	1,828,515
Available For Sale
Amortized Cost
U. S. Treasury	$	—	$	3,031,706	$	1,433,320	$	191,870	$	4,656,896
Residential mortgage-backed securities	55		11,080		18,743		5,937,925		5,967,803
States and political subdivisions	207,078		1,546,995		902,953		4,526,173		7,183,199
Other	—		—		—		—		42,365
Total	$	207,133	$	4,589,781	$	2,355,016	$	10,655,968	$	17,850,263
Estimated Fair Value
U. S. Treasury	$	—	$	2,957,018	$	1,301,539	$	157,742	$	4,416,299
Residential mortgage-backed securities	55		11,231		18,792		5,305,647		5,335,725
States and political subdivisions	209,138		1,579,097		893,132		4,305,929		6,987,296
Other	—		—		—		—		42,365
Total	$	209,193	$	4,547,346	$	2,213,463	$	9,769,318	$	16,781,685

Sales of Securities. No held to maturity or available for sale securities were sold during the three or six months ended June 30, 2022 or 2021.

Premiums and Discounts. Premium amortization and discount accretion included in interest income on securities was as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Premium amortization	$	(28,053)	$	(30,541)	$	(57,113)	$	(61,776)
Discount accretion	2,482		705		3,888		1,342
Net (premium amortization) discount accretion	$	(25,571)	$	(29,836)	$	(53,225)	$	(60,434)

Trading Account Securities. Trading account securities, at estimated fair value, were as follows:

	June 30, 2022		December 31, 2021
U.S. Treasury	$	24,615	$	24,237
States and political subdivisions	65		925
Total	$	24,680	$	25,162

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Net gains and losses on trading account securities were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Net gain on sales transactions	$	1,012	$	293	$	1,352	$	402
Net mark-to-market gains (losses)	(76)		—		(244)		(69)
Net gain (loss) on trading account securities	$	936	$	293	$	1,108	$	333

Note 3 - Loans

Loans were as follows:

	June 30, 2022		December 31, 2021
Commercial and industrial	$	5,539,277	$	5,364,954
Energy:
Production	762,625		878,436
Service	121,356		105,901
Other	103,944		93,455
Total energy	987,925		1,077,792
Paycheck Protection Program	91,919		428,882
Commercial real estate:
Commercial mortgages	6,041,606		5,867,062
Construction	1,535,808		1,304,271
Land	478,674		405,277
Total commercial real estate	8,056,088		7,576,610
Consumer real estate:
Home equity loans	352,633		324,157
Home equity lines of credit	603,907		519,098
Other	604,495		567,535
Total consumer real estate	1,561,035		1,410,790
Total real estate	9,617,123		8,987,400
Consumer and other	499,782		477,369
Total loans	$	16,736,026	$	16,336,397

Concentrations of Credit. Most of our lending activity occurs within the State of Texas, including the four largest metropolitan areas of Austin, Dallas/Ft. Worth, Houston and San Antonio, as well as other markets. The majority of our loan portfolio consists of commercial and industrial and commercial real estate loans. As of June 30, 2022, there were no concentrations of loans related to any single industry in excess of 10% of total loans. The largest industry concentration was related to the energy industry, which totaled 5.9% of total loans (also 5.9% excluding PPP loans). Unfunded commitments to extend credit and standby letters of credit issued to customers in the energy industry totaled $887.3 million and $79.1 million, respectively, as of June 30, 2022.

Foreign Loans. We have U.S. dollar denominated loans and commitments to borrowers in Mexico. The outstanding balance of these loans and the unfunded amounts available under these commitments were not significant at June 30, 2022 or December 31, 2021.

Related Party Loans. In the ordinary course of business, we have granted loans to certain directors, executive officers and their affiliates (collectively referred to as “related parties”). Such loans totaled $342.5 million at June 30, 2022 and $350.5 million at December 31, 2021.

Accrued Interest Receivable. Accrued interest receivable on loans totaled $44.8 million and $40.0 million at June 30, 2022 and December 31, 2021, respectively and is included in accrued interest receivable and other assets in the accompany consolidated balance sheets.

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Non-Accrual and Past Due Loans. Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. Loans are placed on non-accrual status when, in management’s opinion, the borrower may be unable to meet payment obligations as they become due, as well as when required by regulatory provisions.

Non-accrual loans, segregated by class of loans, were as follows:

	June 30, 2022				December 31, 2021
	Total Non-Accrual		Non-Accrual with No Credit Loss Allowance		Total Non-Accrual		Non-Accrual with No Credit Loss Allowance
Commercial and industrial	$	11,170	$	3,093	$	22,582	$	4,701
Energy	11,114		6,442		14,433		8,533
Paycheck Protection Program	—		—		—		—
Commercial real estate:
Buildings, land and other	11,806		6,419		15,297		13,817
Construction	—		—		948		—
Consumer real estate	1,035		732		440		138
Consumer and other	—		—		13		13
Total	$	35,125	$	16,686	$	53,713	$	27,202

The following table presents non-accrual loans as of June 30, 2022 by class and year of origination.

	2022		2021		2020		2019		2018		Prior		Revolving Loans		Revolving Loans Converted to Term		Total
Commercial and industrial	$	—	$	98	$	3,520	$	3,507	$	1,491	$	653	$	108	$	1,793	$	11,170
Energy	5,779		—		—		—		21		—		5,127		187		11,114
Paycheck Protection Program	—		—		—		—		—		—		—		—		—
Commercial real estate:
Buildings, land and other	1,116		7,556		—		229		313		2,592		—		—		11,806
Construction	—		—		—		—		—		—		—		—		—
Consumer real estate	—		—		—		—		—		380		—		655		1,035
Consumer and other	—		—		—		—		—		—		—		—		—
Total	$	6,895	$	7,654	$	3,520	$	3,736	$	1,825	$	3,625	$	5,235	$	2,635	$	35,125

Had non-accrual loans performed in accordance with their original contract terms, we would have recognized additional interest income, net of tax, of approximately $436 thousand and $843 thousand for the three and six months ended June 30, 2022, respectively, and approximately $427 thousand and $881 thousand for the three and six months ended June 30, 2021, respectively.

An age analysis of past due loans (including both accruing and non-accruing loans), segregated by class of loans, as of June 30, 2022 was as follows:

	Loans 30-89 Days Past Due		Loans 90 or More Days Past Due		Total Past Due Loans		Current Loans		Total Loans		Accruing Loans 90 or More Days Past Due
Commercial and industrial	$	14,529	$	3,993	$	18,522	$	5,520,755	$	5,539,277	$	3,280
Energy	200		3,275		3,475		984,450		987,925		—
Paycheck Protection Program	5,919		5,063		10,982		80,937		91,919		5,063
Commercial real estate:
Buildings, land and other	17,852		7,441		25,293		6,494,987		6,520,280		781
Construction	832		—		832		1,534,976		1,535,808		—
Consumer real estate	6,921		1,268		8,189		1,552,846		1,561,035		903
Consumer and other	4,443		598		5,041		494,741		499,782		598
Total	$	50,696	$	21,638	$	72,334	$	16,663,692	$	16,736,026	$	10,625

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Troubled Debt Restructurings. Troubled debt restructurings during the six months ended June 30, 2022 and 2021 are set forth in the following table.

	Six Months Ended June 30, 2022				Six Months Ended June 30, 2021
	Balance at Restructure		Balance at Period-End		Balance at Restructure		Balance at Period-End
Energy	$	—	$	—	$	3,817	$	3,817
Commercial real estate:
Buildings, land and other	1,155		1,116		582		579
	$	1,155	$	1,116	$	4,399	$	4,396

Loan modifications are typically related to extending amortization periods, converting loans to interest only for a limited period of time, deferral of interest payments, waiver of certain covenants, consolidating notes and/or reducing collateral or interest rates. The modifications during the reported periods did not significantly impact our determination of the allowance for credit losses on loans.

Information as of or for the six months ended June 30, 2022 and 2021 related to loans restructured during the preceding twelve months is set forth in the following table.

	June 30, 2022		June 30, 2021
Restructured loans past due in excess of 90 days at period-end:
Number of loans	—		1
Dollar amount of loans	$	—	$	1,322
Restructured loans on non-accrual status at period end	1,116		4,090
Charge-offs of restructured loans:
Recognized in connection with restructuring	—		—
Recognized on previously restructured loans	723		—
Proceeds from sale of restructured loans	1,070		—

Credit Quality Indicators. As part of the on-going monitoring of the credit quality of our loan portfolio, management tracks certain credit quality indicators including trends related to (i) the weighted-average risk grade of commercial loans, (ii) the level of classified commercial loans, (iii) the delinquency status of consumer loans, (iv) non-performing loans (see details above) and (v) the general economic conditions in the State of Texas.

We utilize a risk grading matrix to assign a risk grade to each of our commercial loans. Loans are graded on a scale of 1 to 14. A description of the general characteristics of the 14 risk grades is set forth in our 2021 Form 10-K. We monitor portfolio credit quality by the weighted-average risk grade of each class of commercial loan. Individual relationship managers, under the oversight of credit administration, review updated financial information for all pass grade loans to reassess the risk grade on at least an annual basis. When a loan has a risk grade of 9, it is still considered a pass grade loan; however, it is considered to be on management’s “watch list,” where a significant risk-modifying action is anticipated in the near term. When a loan has a risk grade of 10 or higher, a special assets officer monitors the loan on an on-going basis.

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The following tables present weighted-average risk grades for all commercial loans, by class and year of origination/renewal as of June 30, 2022. Paycheck Protection Program (“PPP”) loans are excluded as such loans are fully guaranteed by the Small Business Administration (“SBA”).

	2022		2021		2020		2019		2018		Prior		Revolving Loans		Revolving Loans Converted to Term		Total		W/A Risk Grade
Commercial and industrial
Risk grades 1-8	$	1,009,520	$	805,675	$	563,122	$	267,129	$	142,114	$	221,192	$	2,213,761	$	54,235	$	5,276,748	6.23
Risk grade 9	12,633		21,474		6,914		9,067		20,961		8,682		79,546		5,662		164,939		9.00
Risk grade 10	5,000		23,293		2,437		705		1,808		255		20,879		2,093		56,470		10.00
Risk grade 11	—		1,651		6,280		9,490		1,556		2,027		4,100		4,846		29,950		11.00
Risk grade 12	—		98		2,569		3,106		1,427		251		108		747		8,306		12.00
Risk grade 13	—		—		951		401		64		402		—		1,046		2,864		13.00
	$	1,027,153	$	852,191	$	582,273	$	289,898	$	167,930	$	232,809	$	2,318,394	$	68,629	$	5,539,277	6.38
W/A risk grade	6.28		7.03		6.10		6.75		7.01		5.79		6.20		7.52		6.38
Energy
Risk grades 1-8	$	312,271	$	111,163	$	6,939	$	6,332	$	3,564	$	5,239	$	446,460	$	49,185	$	941,153	5.57
Risk grade 9	1,660		95		268		1,192		26		—		10,955		39		14,235		9.00
Risk grade 10	—		—		73		515		239		—		—		58		885		10.00
Risk grade 11	9,097		221		541		4,630		885		164		5,000		—		20,538		11.00
Risk grade 12	3,463		—		—		—		21		—		2,771		187		6,442		12.00
Risk grade 13	2,316		—		—		—		—		—		2,356		—		4,672		13.00
	$	328,807	$	111,479	$	7,821	$	12,669	$	4,735	$	5,403	$	467,542	$	49,469	$	987,925	5.82
W/A risk grade	6.09		5.66		7.69		8.63		8.30		7.17		5.46		6.25		5.82
Commercial real estate:
Buildings, land, other
Risk grades 1-8	$	1,101,851	$	1,495,414	$	999,836	$	788,421	$	428,539	$	963,918	$	84,964	$	106,450	$	5,969,393	6.90
Risk grade 9	64,026		27,271		99,934		47,898		20,773		35,908		7,412		2,848		306,070		9.00
Risk grade 10	5,851		17,824		17,104		52,210		20,353		53,622		3,500		—		170,464		10.00
Risk grade 11	162		434		1,269		7,189		8,969		44,318		206		—		62,547		11.00
Risk grade 12	646		6,545		—		229		313		2,592		—		—		10,325		12.00
Risk grade 13	470		1,011		—		—		—		—		—		—		1,481		13.00
	$	1,173,006	$	1,548,499	$	1,118,143	$	895,947	$	478,947	$	1,100,358	$	96,082	$	109,298	$	6,520,280	7.12
W/A risk grade	7.01		7.23		7.16		7.25		7.28		6.95		7.24		6.44		7.12
Construction
Risk grades 1-8	$	276,072	$	662,364	$	179,896	$	100,915	$	631	$	1,804	$	253,781	$	4,247	$	1,479,710	6.86
Risk grade 9	11,295		637		2,670		—		—		401		—		—		15,003		9.00
Risk grade 10	27,992		—		—		13,103		—		—		—		—		41,095		10.00
Risk grade 11	—		—		—		—		—		—		—		—		—		11.00
Risk grade 12	—		—		—		—		—		—		—		—		—		12.00
Risk grade 13	—		—		—		—		—		—		—		—		—		13.00
	$	315,359	$	663,001	$	182,566	$	114,018	$	631	$	2,205	$	253,781	$	4,247	$	1,535,808	6.96
W/A risk grade	7.10		7.12		6.64		8.21		6.21		7.16		6.10		5.01		6.96
Total commercial real estate	$	1,488,365	$	2,211,500	$	1,300,709	$	1,009,965	$	479,578	$	1,102,563	$	349,863	$	113,545	$	8,056,088	7.09
W/A risk grade	7.03		7.19		7.09		7.36		7.28		6.95		6.41		6.39		7.09

In the table above, certain energy and commercial real estate loans are reported as 2022 originations and have risk grades of 11 or higher. These loans were, for the most part, first originated in various years prior to 2022 but were renewed in the current year.

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The following tables present weighted average risk grades for all commercial loans by class as of December 31, 2021. Refer to our 2021 Form 10-K for details of these loans by year of origination/renewal.

	Commercial and Industrial			Energy			Commercial Real Estate - Buildings, Land and Other			Commercial Real Estate - Construction			Total Commercial Real Estate
	W/A Risk Grade	Loans		W/A Risk Grade	Loans		W/A Risk Grade	Loans		W/A Risk Grade	Loans		W/A Risk Grade	Loans
Risk grades 1-8	6.01	$	5,063,847	5.78	$	1,008,370	6.91	$	5,574,922	6.99	$	1,262,200	6.92	$	6,837,122
Risk grade 9	9.00	187,870		9.00	36,622		9.00	321,533		9.00	41,123		9.00	362,656
Risk grade 10	10.00	59,137		10.00	1,773		10.00	269,447		10.00	—		10.00	269,447
Risk grade 11	11.00	31,518		11.00	16,594		11.00	91,140		11.00	—		11.00	91,140
Risk grade 12	12.00	12,535		12.00	8,953		12.00	15,097		12.00	748		12.00	15,845
Risk grade 13	13.00	10,047		13.00	5,480		13.00	200		13.00	200		13.00	400
Total	6.22	$	5,364,954	6.06	$	1,077,792	7.22	$	6,272,339	7.06	$	1,304,271	7.19	$	7,576,610

Information about the payment status of consumer loans, segregated by portfolio segment and year of origination, as of June 30, 2022 was as follows:

	2022		2021		2020		2019		2018		Prior		Revolving Loans		Revolving Loans Converted to Term		Total
Consumer real estate:
Past due 30-89 days	$	140	$	287	$	387	$	668	$	401	$	2,771	$	602	$	1,665	$	6,921
Past due 90 or more days	—		—		—		4		142		875		247		—		1,268
Total past due	140		287		387		672		543		3,646		849		1,665		8,189
Current loans	154,178		324,089		211,133		80,351		43,828		137,836		592,539		8,892		1,552,846
Total	$	154,318	$	324,376	$	211,520	$	81,023	$	44,371	$	141,482	$	593,388	$	10,557	$	1,561,035
Consumer and other:
Past due 30-89 days	$	1,974	$	69	$	64	$	44	$	5	$	45	$	32	$	2,210	$	4,443
Past due 90 or more days	439		—		—		19		11		—		—		129		598
Total past due	2,413		69		64		63		16		45		32		2,339		5,041
Current loans	31,230		30,712		10,798		4,166		1,814		2,042		391,713		22,266		494,741
Total	$	33,643	$	30,781	$	10,862	$	4,229	$	1,830	$	2,087	$	391,745	$	24,605	$	499,782

Revolving loans that converted to term during the three and six months ended June 30, 2022 and 2021 were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Commercial and industrial	$	16,518	$	22,111	$	21,973	$	31,561
Energy	247		294		247		6,177
Commercial real estate:
Buildings, land and other	10,681		8,195		10,726		31,321
Construction	13		—		4,248		—
Consumer real estate	888		205		1,684		977
Consumer and other	1,792		1,961		5,868		5,696
Total	$	30,139	$	32,766	$	44,746	$	75,732

In assessing the general economic conditions in the State of Texas, management monitors and tracks the Texas Leading Index (“TLI”), which is produced by the Federal Reserve Bank of Dallas. The TLI, the components of which are more fully described in our 2021 Form 10-K, totaled 138.4 at June 30, 2022 and 135.9 at December 31, 2021. A higher TLI value implies more favorable economic conditions.

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Allowance For Credit Losses - Loans. The allowance for credit losses on loans is a contra-asset valuation account, calculated in accordance with ASC 326, that is deducted from the amortized cost basis of loans to present the net amount expected to be collected. The amount of the allowance represents management's best estimate of current expected credit losses on loans considering available information, from internal and external sources, relevant to assessing collectibility over the loans' contractual terms, adjusted for expected prepayments when appropriate. Credit loss expense related to loans reflects the totality of actions taken on all loans for a particular period including any necessary increases or decreases in the allowance related to changes in credit loss expectations associated with specific loans or pools of loans. Portions of the allowance may be allocated for specific credits; however, the entire allowance is available for any credit that, in management’s judgment, should be charged off. While management utilizes its best judgment and information available, the ultimate appropriateness of the allowance is dependent upon a variety of factors beyond our control, including the performance of our loan portfolio, the economy, changes in interest rates and the view of the regulatory authorities toward loan classifications. Our allowance methodology is more fully described in our 2021 Form 10-K.

The following table presents details of the allowance for credit losses on loans segregated by loan portfolio segment as of June 30, 2022 and December 31, 2021. No allowance for credit losses has been recognized for PPP loans as such loans are fully guaranteed by the SBA.

June 30, 2022	Commercial and Industrial		Energy		Commercial Real Estate		Consumer Real Estate		Consumer and Other		Total
Modeled expected credit losses	$	48,776	$	6,106	$	20,093	$	6,639	$	9,609	$	91,223
Q-Factor and other qualitative adjustments	35,134		3,989		95,532		133		2,526		137,314
Specific allocations	3,360		6,172		1,481		82		—		11,095
Total	$	87,270	$	16,267	$	117,106	$	6,854	$	12,135	$	239,632
December 31, 2021
Modeled expected credit losses	$	46,946	$	6,363	$	16,676	$	6,484	$	6,397	$	82,866
Q-Factor and other qualitative adjustments	14,609		5,374		127,860		65		1,440		149,348
Specific allocations	10,536		5,480		400		36		—		16,452
Total	$	72,091	$	17,217	$	144,936	$	6,585	$	7,837	$	248,666

The following table details activity in the allowance for credit losses on loans by portfolio segment for the three and six months ended June 30, 2022 and 2021. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. No allowance for credit losses has been recognized for PPP loans as such loans are fully guaranteed by the SBA.

	Commercial and Industrial		Energy		Commercial Real Estate		Consumer Real Estate		Consumer and Other		Total
Three months ended:
June 30, 2022
Beginning balance	$	87,026	$	15,422	$	128,954	$	6,359	$	9,074	$	246,835
Credit loss expense (benefit)	942		427		(12,232)		583		5,884		(4,396)
Charge-offs	(1,891)		—		—		(131)		(5,322)		(7,344)
Recoveries	1,193		418		384		43		2,499		4,537
Net charge-offs	(698)		418		384		(88)		(2,823)		(2,807)
Ending balance	$	87,270	$	16,267	$	117,106	$	6,854	$	12,135	$	239,632
June 30, 2021
Beginning balance	$	70,892	$	33,472	$	144,440	$	5,636	$	6,818	$	261,258
Credit loss expense (benefit)	(5,901)		(5,527)		3,654		611		2,784		(4,379)
Charge-offs	(685)		—		(137)		(388)		(3,882)		(5,092)
Recoveries	965		65		36		295		2,140		3,501
Net charge-offs	280		65		(101)		(93)		(1,742)		(1,591)
Ending balance	$	65,271	$	28,010	$	147,993	$	6,154	$	7,860	$	255,288

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	Commercial and Industrial		Energy		Commercial Real Estate		Consumer Real Estate		Consumer and Other		Total
Six months ended:
June 30, 2022
Beginning balance	$	72,091	$	17,217	$	144,936	$	6,585	$	7,837	$	248,666
Credit loss expense (benefit)	18,503		(1,617)		(27,841)		557		10,466		68
Charge-offs	(5,346)		(371)		(702)		(362)		(11,093)		(17,874)
Recoveries	2,022		1,038		713		74		4,925		8,772
Net (charge-offs) recoveries	(3,324)		667		11		(288)		(6,168)		(9,102)
Ending balance	$	87,270	$	16,267	$	117,106	$	6,854	$	12,135	$	239,632
June 30, 2021
Beginning balance	$	73,843	$	39,553	$	134,892	$	7,926	$	6,963	$	263,177
Credit loss expense (benefit)	(7,866)		(11,328)		12,576		(2,111)		4,350		(4,379)
Charge-offs	(2,874)		(1,433)		(137)		(672)		(7,942)		(13,058)
Recoveries	2,168		1,218		662		1,011		4,489		9,548
Net (charge-offs) recoveries	(706)		(215)		525		339		(3,453)		(3,510)
Ending balance	$	65,271	$	28,010	$	147,993	$	6,154	$	7,860	$	255,288

The following table presents loans that were evaluated for expected credit losses on an individual basis and the related specific allocations, by loan portfolio segment, as of June 30, 2022 and December 31, 2021.

	June 30, 2022				December 31, 2021
	Loan Balance		Specific Allocations		Loan Balance		Specific Allocations
Commercial and industrial	$	12,539	$	3,360	$	24,523	$	10,536
Energy	15,906		6,172		16,393		5,480
Paycheck Protection Program	—		—		—		—
Commercial real estate:
Buildings, land and other	21,205		1,481		24,670		200
Construction	—		—		948		200
Consumer real estate	934		82		303		36
Consumer and other	—		—		—		—
Total	$	50,584	$	11,095	$	66,837	$	16,452

Note 4 - Goodwill and Other Intangible Assets

Goodwill and other intangible assets are presented in the table below.

	June 30, 2022		December 31, 2021
Goodwill	$	654,952	$	654,952
Other intangible assets:
Core deposits	$	479	$	718
Customer relationships	110		148
	$	589	$	866

The estimated aggregate future amortization expense for intangible assets remaining as of June 30, 2022 is as follows:

Remainder of 2022	$	204
2023	282
2024	87
2025	11
2026	5
	$	589

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Note 5 - Deposits

Deposits were as follows:

	June 30, 2022		December 31, 2021
Non-interest-bearing demand deposits	$	18,783,931	$	18,423,018
Interest-bearing deposits:
Savings and interest checking	12,309,066		11,930,959
Money market accounts	12,989,902		11,228,815
Time accounts	1,518,866		1,112,904
Total interest-bearing deposits	26,817,834		24,272,678
Total deposits	$	45,601,765	$	42,695,696

The following table presents additional information about our deposits:

	June 30, 2022		December 31, 2021
Deposits from foreign sources (primarily Mexico)	$	1,090,169	$	993,479
Non-interest-bearing public funds deposits	681,205		1,235,026
Interest-bearing public funds deposits	837,427		810,863
Total deposits not covered by deposit insurance	25,810,407		24,125,359
Time deposits not covered by deposit insurance	364,486		238,608

Note 6 - Off-Balance-Sheet Arrangements, Commitments, Guarantees and Contingencies

Financial Instruments with Off-Balance-Sheet Risk. In the normal course of business, we enter into various transactions, which, in accordance with generally accepted accounting principles are not included in our consolidated balance sheets. We enter into these transactions to meet the financing needs of our customers. As more fully discussed in our 2021 Form 10-K, these transactions include commitments to extend credit and standby letters of credit, which involve, to varying degrees, elements of credit risk and interest rate risk in excess of the amounts recognized in the consolidated balance sheets. We minimize our exposure to loss under these commitments by subjecting them to credit approval and monitoring procedures.

Financial instruments with off-balance-sheet risk were as follows:

	June 30, 2022		December 31, 2021
Commitments to extend credit	$	10,771,940	$	10,420,142
Standby letters of credit	327,847		238,690
Deferred standby letter of credit fees	1,890		2,072

Allowance For Credit Losses - Off-Balance-Sheet Credit Exposures. The allowance for credit losses on off-balance-sheet credit exposures is a liability account, calculated in accordance with ASC 326, representing expected credit losses over the contractual period for which we are exposed to credit risk resulting from a contractual obligation to extend credit. No allowance is recognized if we have the unconditional right to cancel the obligation. Off-balance-sheet credit exposures primarily consist of amounts available under outstanding lines of credit and letters of credit detailed in the table above. The amount of the allowance represents management's best estimate of expected credit losses on commitments expected to be funded over the contractual life of the commitment. Our allowance methodology is more fully described in our 2021 Form 10-K.

The following table details activity in the allowance for credit losses on off-balance-sheet credit exposures.

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Beginning balance	$	45,850	$	44,217	$	50,314	$	44,152
Credit loss expense (benefit)	4,396		4,379		(68)		4,444
Ending balance	$	50,246	$	48,596	$	50,246	$	48,596

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Lease Commitments. We lease certain office facilities and office equipment under operating leases. The components of total lease expense were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Amortization of lease right-of-use assets	$	8,209	$	8,129	$	16,314	$	16,412
Short-term lease expense	490		530		1,103		734
Non-lease components (including taxes, insurance, common maintenance, etc.)	2,748		2,337		5,768		5,341
Total	$	11,447	$	10,996	$	23,185	$	22,487

Right-of-use lease assets totaled $278.3 million at June 30, 2022 and $281.4 million at December 31, 2021 and are reported as a component of premises and equipment on our accompanying consolidated balance sheets. The related lease liabilities totaled $310.5 million at June 30, 2022 and $313.4 million at December 31, 2021 and are reported as a component of accrued interest payable and other liabilities in the accompanying consolidated balance sheets. Lease payments under operating leases that were applied to our operating lease liability totaled $8.4 million and $16.4 million during the three and six months ended June 30, 2022, respectively, and $8.0 million and $16.1 million during the three and six months ended June 30, 2021, respectively. There has been no significant change in our expected future minimum lease payments since December 31, 2021. See the 2021 Form 10-K for information regarding these commitments.

Litigation. We are subject to various claims and legal actions that have arisen in the course of conducting business. Management does not expect the ultimate disposition of these matters to have a material adverse impact on our financial statements.

Note 7 - Capital and Regulatory Matters

Banks and bank holding companies are subject to various regulatory capital requirements administered by state and federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators about components, risk weighting and other factors.

Cullen/Frost’s and Frost Bank’s Common Equity Tier 1 capital (“CET1”) includes common stock and related paid-in capital, net of treasury stock, and retained earnings. In connection with the adoption of the Basel III Capital Rules, we elected to opt-out of the requirement to include most components of accumulated other comprehensive income in CET1. We also elected to exclude the effects of credit loss accounting under CECL from CET1 for a five-year transitional period, as further discussed in our 2021 Form 10-K. This CECL transitional adjustment totaled $46.2 million and $61.6 million at June 30, 2022 and December 31, 2021, respectively. CET1 is reduced by goodwill and other intangible assets, net of associated deferred tax liabilities. Frost Bank's CET1 is also reduced by its equity investment in its financial subsidiary, Frost Insurance Agency (“FIA”).

Tier 1 capital includes CET1 and additional Tier 1 capital. For Cullen/Frost, additional Tier 1 capital included $145.5 million of 4.450% non-cumulative perpetual preferred stock at June 30, 2022 and December 31, 2021, the details of which are further discussed below. Frost Bank did not have any additional Tier 1 capital beyond Common Equity Tier 1 at June 30, 2022 or December 31, 2021. Total capital includes Tier 1 capital and Tier 2 capital. Tier 2 capital for both Cullen/Frost and Frost Bank includes a permissible portion of the allowances for credit losses on securities, loans and off-balance-sheet credit exposures. Tier 2 capital for Cullen/Frost also includes the permissible portion of qualified subordinated debt (which decreases 20.0% per year during the final five years of the term of the notes) totaling $80.0 million at June 30, 2022 and $100.0 million at December 31, 2021 and trust preferred securities totaling $120.0 million at both June 30, 2022 and December 31, 2021.

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The following table presents actual and required capital ratios as of June 30, 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. See the 2021 Form 10-K for a more detailed discussion of the Basel III Capital Rules.

	Actual				Minimum Capital Required - Basel III				Required to be Considered Well Capitalized
	Capital Amount		Ratio		Capital Amount		Ratio		Capital Amount		Ratio
June 30, 2022
Common Equity Tier 1 to Risk-Weighted Assets
Cullen/Frost	$	3,485,759	12.64	%	$	1,930,703	7.00	%	$	1,792,796	6.50	%
Frost Bank	3,423,585		12.42		1,929,368		7.00		1,791,556		6.50
Tier 1 Capital to Risk-Weighted Assets
Cullen/Frost	3,631,211		13.17		2,344,425		8.50		2,206,518		8.00
Frost Bank	3,423,585		12.42		2,342,804		8.50		2,204,992		8.00
Total Capital to Risk-Weighted Assets
Cullen/Frost	4,069,206		14.75		2,896,055		10.50		2,758,148		10.00
Frost Bank	3,661,580		13.28		2,894,052		10.50		2,756,240		10.00
Leverage Ratio
Cullen/Frost	3,631,211		7.03		2,067,513		4.00		2,584,391		5.00
Frost Bank	3,423,585		6.62		2,067,942		4.00		2,584,928		5.00
December 31, 2021
Common Equity Tier 1 to Risk-Weighted Assets
Cullen/Frost	$	3,371,043	13.13	%	$	1,796,549	7.00	%	$	1,668,224	6.50	%
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		2,053,198		8.00
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		2,396,917		5.00
Frost Bank	3,261,532		6.80		1,917,679		4.00		2,397,099		5.00

As of June 30, 2022, capital levels at Cullen/Frost and Frost Bank exceed all capital adequacy requirements under the Basel III Capital Rules. Based on the ratios presented above, capital levels as of June 30, 2022 at Cullen/Frost and Frost Bank exceed the minimum levels necessary to be considered “well capitalized.”

Cullen/Frost and Frost Bank are subject to the regulatory capital requirements administered by the Federal Reserve Board and, for Frost Bank, the Federal Deposit Insurance Corporation (“FDIC”). Regulatory authorities can initiate certain mandatory actions if Cullen/Frost or Frost Bank fail to meet the minimum capital requirements, which could have a direct material effect on our financial statements. Management believes, as of June 30, 2022, that Cullen/Frost and Frost Bank meet all capital adequacy requirements to which they are subject.

Preferred Stock. Outstanding preferred stock includes 150,000 shares, or $150.0 million in aggregate liquidation preference, of our 4.450% Non-Cumulative Perpetual Preferred Stock, Series B, par value $0.01 and liquidation preference $1,000 per share (“Series B Preferred Stock”). Each share of Series B Preferred Stock issued and outstanding is represented by 40 depositary shares, each representing a 1/40th ownership interest in a share of the Series B Preferred Stock (equivalent to a liquidation preference of $25 per share). The Series B Preferred Stock qualifies as Tier 1 capital for the purposes of the regulatory capital calculations. The net proceeds from the issuance and sale of the Series B Preferred Stock, after deducting $4.5 million of issuance costs including the underwriting discount and professional service fees, among other things, were approximately $145.5 million. Refer to our 2021 Form 10-K for additional details related to our Series B Preferred Stock.

Stock Repurchase Plans. From time to time, our board of directors has authorized stock repurchase plans. In general, stock repurchase plans allow us to proactively manage our capital position and return excess capital to shareholders. Shares purchased under such plans also provide us with shares of common stock necessary to satisfy obligations related to stock compensation awards. On January 26, 2022, our board of directors authorized a $100.0 million stock repurchase program, allowing us to repurchase shares of our common stock over a one-year period from time to time at various prices in the open market or

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through private transactions. No shares have been repurchased under this plan or the prior plan during the reported periods. Under the Basel III Capital Rules, Cullen/Frost may not repurchase or redeem any of its preferred stock or subordinated notes and, in some cases, its common stock without the prior approval of the Federal Reserve Board.

Dividend Restrictions. In the ordinary course of business, Cullen/Frost is dependent upon dividends from Frost Bank to provide funds for the payment of dividends to shareholders and to provide for other cash requirements, including to repurchase its common stock. Banking regulations may limit the amount of dividends that may be paid. Approval by regulatory authorities is required if the effect of dividends declared would cause the regulatory capital of Frost Bank to fall below specified minimum levels. Approval is also required if dividends declared exceed the net profits for that year combined with the retained net profits for the preceding two years. Under the foregoing dividend restrictions and while maintaining its “well capitalized” status, at June 30, 2022, Frost Bank could pay aggregate dividends of up to $447.3 million to Cullen/Frost without prior regulatory approval.

Under the terms of the junior subordinated deferrable interest debentures that Cullen/Frost has issued to Cullen/Frost Capital Trust II, Cullen/Frost has the right at any time during the term of the debentures to defer the payment of interest at any time or from time to time for an extension period not exceeding 20 consecutive quarterly periods with respect to each extension period. In the event that we have elected to defer interest on the debentures, we may not, with certain exceptions, declare or pay any dividends or distributions on our capital stock or purchase or acquire any of our capital stock.

Note 8 - Derivative Financial Instruments

The fair value of derivative positions outstanding is included in accrued interest receivable and other assets and accrued interest payable and other liabilities in the accompanying consolidated balance sheets and in the net change in each of these financial statement line items in the accompanying consolidated statements of cash flows.

Interest Rate Derivatives. We utilize interest rate swaps, caps, swaptions and floors to mitigate exposure to interest rate risk and to facilitate the needs of our customers. Our objectives for utilizing these derivative instruments are described in our 2021 Form 10-K.

The notional amounts and estimated fair values of interest rate derivative contracts are presented in the following table. The fair values of interest rate derivative contracts are estimated utilizing internal valuation methods with observable market data inputs, or as determined by the Chicago Mercantile Exchange (“CME”) for centrally cleared derivative contracts. CME rules legally characterize variation margin payments for centrally cleared derivatives as settlements of the derivatives' exposure rather than collateral. As a result, the variation margin payment and the related derivative instruments are considered a single unit of account for accounting and financial reporting purposes. Variation margin, as determined by the CME, is settled daily. As a result, derivative contracts that clear through the CME have an estimated fair value of zero as of June 30, 2022 and December 31, 2021.

	June 30, 2022				December 31, 2021
	Notional Amount		Estimated Fair Value		Notional Amount		Estimated Fair Value
Derivatives designated as hedges of fair value:
Financial institution counterparties:
Loan/lease interest rate swaps – assets	$	1,743	$	18	$	—	$	—
Loan/lease interest rate swaps – liabilities	—		—		2,426		(34)
Non-hedging interest rate derivatives:
Financial institution counterparties:
Loan/lease interest rate swaps – assets	904,706		27,908		247,592		1,207
Loan/lease interest rate swaps – liabilities	244,663		(2,489)		928,756		(19,142)
Loan/lease interest rate caps – assets	269,389		10,209		270,431		3,239
Customer counterparties:
Loan/lease interest rate swaps – assets	244,663		3,350		928,756		39,864
Loan/lease interest rate swaps – liabilities	904,706		(45,542)		247,592		(2,846)
Loan/lease interest rate caps – liabilities	269,389		(10,209)		270,431		(3,239)

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The weighted-average rates paid and received for interest rate swaps outstanding at June 30, 2022 were as follows:

	Weighted-Average
	Interest Rate Paid		Interest Rate Received
Interest rate swaps:
Fair value hedge loan/lease interest rate swaps	1.58	%	1.06	%
Non-hedging interest rate swaps – financial institution counterparties	3.71		2.87
Non-hedging interest rate swaps – customer counterparties	2.87		3.71

The weighted-average strike rate for outstanding interest rate caps was 3.28% at June 30, 2022.

Commodity Derivatives. We enter into commodity swaps and option contracts that are not designated as hedging instruments primarily to accommodate the business needs of our customers. Upon the origination of a commodity swap or option contract with a customer, we simultaneously enter into an offsetting contract with a third party financial institution to mitigate the exposure to fluctuations in commodity prices.

The notional amounts and estimated fair values of non-hedging commodity swap and option derivative positions outstanding are presented in the following table. We obtain dealer quotations and use internal valuation methods with observable market data inputs to value our commodity derivative positions.

		June 30, 2022			December 31, 2021
	Notional Units	Notional Amount	Estimated Fair Value		Notional Amount	Estimated Fair Value
Financial institution counterparties:
Oil – assets	Barrels	4,173	$	20,653	4,809	$	14,721
Oil – liabilities	Barrels	9,125	(181,161)		7,032	(73,594)
Natural gas – assets	MMBTUs	11,753	3,181		15,947	4,143
Natural gas – liabilities	MMBTUs	21,557	(38,990)		29,446	(21,249)
Customer counterparties:
Oil – assets	Barrels	9,606	182,274		7,046	74,437
Oil – liabilities	Barrels	3,692	(20,306)		4,796	(14,294)
Natural gas – assets	MMBTUs	21,557	39,110		29,446	21,456
Natural gas – liabilities	MMBTUs	11,753	(3,181)		15,947	(4,124)

Foreign Currency Derivatives. We enter into foreign currency forward and option contracts that are not designated as hedging instruments primarily to accommodate the business needs of our customers. Upon the origination of a foreign currency denominated transaction with a customer, we simultaneously enter into an offsetting contract with a third party financial institution to negate the exposure to fluctuations in foreign currency exchange rates. We also utilize foreign currency forward contracts and options that are not designated as hedging instruments to mitigate the economic effect of fluctuations in foreign currency exchange rates on foreign currency holdings and certain short-term, non-U.S. dollar denominated loans. The notional amounts and fair values of open foreign currency forward and option contracts were as follows:

		June 30, 2022			December 31, 2021
	Notional Currency	Notional Amount	Estimated Fair Value		Notional Amount	Estimated Fair Value
Financial institution counterparties:
Forward and option contracts – assets	EUR	6,400	$	16	1,900	$	29
Forward and option contracts – assets	CAD	658	9		658	—
Forward and option contracts – liabilities	EUR	6,400	(174)		—	—
Customer counterparties:
Forward and option contracts – assets	EUR	6,400	174		—	—
Forward and option contracts – assets	CAD	—	—		658	4
Forward and option contracts – liabilities	EUR	6,400	(16)		1,900	(55)
Forward and option contracts – liabilities	CAD	658	(5)		—	—

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Gains, Losses and Derivative Cash Flows. For fair value hedges, the changes in the fair value of both the derivative hedging instrument and the hedged item are included in other non-interest income or other non-interest expense. The extent that such changes in fair value do not offset represents hedge ineffectiveness. Net cash flows from interest rate swaps on commercial loans/leases designated as hedging instruments in effective hedges of fair value are included in interest income on loans. For non-hedging derivative instruments, gains and losses due to changes in fair value and all cash flows are included in other non-interest income and other non-interest expense.

Amounts included in the consolidated statements of income related to interest rate derivatives designated as hedges of fair value were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Commercial loan/lease interest rate swaps:
Amount of gain (loss) included in interest income on loans	$	(5)	$	(25)	$	(18)	$	(53)
Amount of (gain) loss included in other non-interest expense	3		2		5		5

As stated above, we enter into non-hedge related derivative positions primarily to accommodate the business needs of our customers. Upon the origination of a derivative contract with a customer, we simultaneously enter into an offsetting derivative contract with a third party financial institution. We recognize immediate income based upon the difference in the bid/ask spread of the underlying transactions with our customers and the third party. Because we act only as an intermediary for our customer, subsequent changes in the fair value of the underlying derivative contracts for the most part offset each other and do not significantly impact our results of operations.

Amounts included in the consolidated statements of income related to non-hedge related derivative instruments are presented in the table below.

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Non-hedging interest rate derivatives:
Other non-interest income	$	515	$	141	$	1,031	$	1,728
Other non-interest expense	—		—		—		(1)
Non-hedging commodity derivatives:
Other non-interest income	649		969		1,578		2,123
Non-hedging foreign currency derivatives:
Other non-interest income	45		—		63		30

Counterparty Credit Risk. Our credit exposure relating to interest rate swaps, commodity swaps/options and foreign currency forward and option contracts with bank customers was approximately $198.1 million at June 30, 2022. This credit exposure is partly mitigated as transactions with customers are generally secured by the collateral, if any, securing the underlying transaction being hedged. Our credit exposure, net of collateral pledged, relating to interest rate swaps, commodity swaps/options and foreign currency forward/option contracts with upstream financial institution counterparties was approximately $41.5 million at June 30, 2022. This amount was primarily related to initial margin payments to the CME and excess collateral we posted to counterparties. Excess collateral is generally cleared on the next business day. Collateral levels for upstream financial institution counterparties are monitored and adjusted as necessary. See Note 9 – Balance Sheet Offsetting and Repurchase Agreements for additional information regarding our credit exposure with upstream financial institution counterparties. At June 30, 2022, we had $212.4 million in cash collateral related to derivative contracts on deposit with other financial institution counterparties.

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Note 9 - Balance Sheet Offsetting and Repurchase Agreements

Balance Sheet Offsetting. Certain financial instruments, including resell and repurchase agreements and derivatives, may be eligible for offset in the consolidated balance sheet and/or subject to master netting arrangements or similar agreements. Our derivative transactions with upstream financial institution counterparties are generally executed under International Swaps and Derivative Association (“ISDA”) master agreements which include “right of set-off” provisions. In such cases there is generally a legally enforceable right to offset recognized amounts and there may be an intention to settle such amounts on a net basis. Nonetheless, we do not generally offset such financial instruments for financial reporting purposes.

Information about financial instruments that are eligible for offset in the consolidated balance sheet as of June 30, 2022 is presented in the following tables.

	Gross Amount Recognized		Gross Amount Offset		Net Amount Recognized
June 30, 2022
Financial assets:
Derivatives:
Loan/lease interest rate swaps and caps	$	38,135	$	—	$	38,135
Commodity swaps and options	23,834		—		23,834
Foreign currency forward contracts	25		—		25
Total derivatives	61,994		—		61,994
Resell agreements	9,650		—		9,650
Total	$	71,644	$	—	$	71,644
Financial liabilities:
Derivatives:
Loan/lease interest rate swaps and caps	$	2,489	$	—	$	2,489
Commodity swaps and options	220,151		—		220,151
Foreign currency forward contracts	174		—		174
Total derivatives	222,814		—		222,814
Repurchase agreements	1,664,685		—		1,664,685
Total	$	1,887,499	$	—	$	1,887,499

			Gross Amounts Not Offset
	Net Amount Recognized		Financial Instruments		Collateral		Net Amount
June 30, 2022
Financial assets:
Derivatives:
Counterparty A	$	41	$	(41)	$	—	$	—
Counterparty B	25,962		(25,962)		—		—
Counterparty C	16		(16)		—		—
Other counterparties	35,975		(25,533)		(10,442)		—
Total derivatives	61,994		(51,552)		(10,442)		—
Resell agreements	9,650		—		(9,650)		—
Total	$	71,644	$	(51,552)	$	(20,092)	$	—
Financial liabilities:
Derivatives:
Counterparty A	$	1,726	$	(41)	$	(1,571)	$	114
Counterparty B	50,901		(25,962)		(24,939)		—
Counterparty C	174		(16)		(10)		148
Other counterparties	170,013		(25,533)		(144,463)		17
Total derivatives	222,814		(51,552)		(170,983)		279
Repurchase agreements	1,664,685		—		(1,664,685)		—
Total	$	1,887,499	$	(51,552)	$	(1,835,668)	$	279

26

Information about financial instruments that are eligible for offset in the consolidated balance sheet as of December 31, 2021 is presented in the following tables.

	Gross Amount Recognized		Gross Amount Offset		Net Amount Recognized
December 31, 2021
Financial assets:
Derivatives:
Loan/lease interest rate swaps and caps	$	4,446	$	—	$	4,446
Commodity swaps and options	18,864		—		18,864
Total derivatives	23,339		—		23,339
Resell agreements	7,903		—		7,903
Total	$	31,242	$	—	$	31,242
Financial liabilities:
Derivatives:
Loan/lease interest rate swaps and caps	$	19,176	$	—	$	19,176
Commodity swaps and options	94,843		—		94,843
Total derivatives	114,019		—		114,019
Repurchase agreements	2,740,799		—		2,740,799
Total	$	2,854,818	$	—	$	2,854,818

			Gross Amounts Not Offset
	Net Amount Recognized		Financial Instruments		Collateral		Net Amount
December 31, 2021
Financial assets:
Derivatives:
Counterparty A	$	6	$	(6)	$	—	$	—
Counterparty B	7,655		(7,655)		—		—
Other counterparties	15,678		(15,678)		—		—
Total derivatives	23,339		(23,339)		—		—
Resell agreements	7,903		—		(7,903)		—
Total	$	31,242	$	(23,339)	$	(7,903)	$	—
Financial liabilities:
Derivatives:
Counterparty A	$	3,870	$	(6)	$	(3,864)	$	—
Counterparty B	28,130		(7,655)		(20,475)		—
Counterparty C	9		—		(9)		—
Other counterparties	82,010		(15,678)		(66,225)		107
Total derivatives	114,019		(23,339)		(90,573)		107
Repurchase agreements	2,740,799		—		(2,740,799)		—
Total	$	2,854,818	$	(23,339)	$	(2,831,372)	$	107

27

Repurchase Agreements. We utilize securities sold under agreements to repurchase to facilitate the needs of our customers and to facilitate secured short-term funding needs. Securities sold under agreements to repurchase are stated at the amount of cash received in connection with the transaction. We monitor collateral levels on a continuous basis. We may be required to provide additional collateral based on the fair value of the underlying securities. Securities pledged as collateral under repurchase agreements are maintained with our safekeeping agents.

The remaining contractual maturity of repurchase agreements in the consolidated balance sheets as of June 30, 2022 and December 31, 2021 is presented in the following tables.

	Remaining Contractual Maturity of the Agreements
	Overnight and Continuous		Up to 30 Days		30-90 Days		Greater than 90 Days		Total
June 30, 2022
Repurchase agreements:
U.S. Treasury	$	834,063	$	—	$	—	$	—	$	834,063
Residential mortgage-backed securities	830,622		—		—		—		830,622
Total borrowings	$	1,664,685	$	—	$	—	$	—	$	1,664,685
Gross amount of recognized liabilities for repurchase agreements									$	1,664,685
Amounts related to agreements not included in offsetting disclosures above									$	—
December 31, 2021
Repurchase agreements:
U.S. Treasury	$	1,342,591	$	—	$	—	$	—	$	1,342,591
Residential mortgage-backed securities	1,398,208		—		—		—		1,398,208
Total borrowings	$	2,740,799	$	—	$	—	$	—	$	2,740,799
Gross amount of recognized liabilities for repurchase agreements									$	2,740,799
Amounts related to agreements not included in offsetting disclosures above									$	—

Note 10 - Stock-Based Compensation

A combined summary of activity in our active stock plans is presented in the table below. Performance stock units outstanding are presented assuming attainment of the maximum payout rate as set forth by the performance criteria. As of June 30, 2022, there were 788,070 shares remaining available for grant for future stock-based compensation awards.

	Deferred Stock Units Outstanding			Non-Vested Stock Units Outstanding			Performance Stock Units Outstanding			Stock Options Outstanding
	Number of Units	Weighted- Average Fair Value at Grant		Number of Units	Weighted- Average Fair Value at Grant		Number of Units	Weighted- Average Fair Value at Grant		Number of Shares	Weighted- Average Exercise Price
Balance, January 1, 2022	56,301	$	79.21	449,337	$	93.05	202,460	$	84.71	877,681	$	69.02
Authorized	—	—		—	—		—	—		—	—
Granted	5,382	133.67		3,460	132.72		—	—		—	—
Exercised/vested	(16,022)	74.89		—	—		(25,180)	87.18		(103,060)	62.97
Forfeited/expired	—	—		(3,167)	94.57		(16,058)	87.18		—	—
Balance, June 30, 2022	45,661	87.15		449,630	93.35		161,222	84.08		774,621	69.83

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Shares issued in connection with stock compensation awards are issued from available treasury shares. If no treasury shares are available, new shares are issued from available authorized shares. Shares issued in connection with stock compensation awards along with other related information were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
New shares issued from available authorized shares	—		—		—		—
Shares issued from available treasury stock	28,832		114,252		144,262		628,076
Proceeds from stock option exercises	$	751	$	7,285	$	6,490	$	36,682

Stock-based compensation expense is recognized ratably over the requisite service period for all awards. For most stock option awards, the service period generally matches the vesting period. For stock options granted to certain executive officers and for non-vested stock units granted to all participants, the service period does not extend past the date the participant reaches 65 years of age. Deferred stock units granted to non-employee directors generally have immediate vesting and the related expense is fully recognized on the date of grant. For performance stock units, the service period generally matches the three-year performance period specified by the award, however, the service period does not extend past the date the participant reaches 65 years of age. Expense recognized each period is dependent upon our estimate of the number of shares that will ultimately be issued.

Stock-based compensation expense or benefit and the related income tax benefit is presented in the following table. The service period for performance stock units granted each year begins on January 1 of the following year.

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Non-vested stock units	$	2,291	$	1,768	$	4,649	$	3,651
Deferred stock units	720		700		720		700
Performance stock units	407		777		161		1,420
Total	$	3,418	$	3,245	$	5,530	$	5,771
Income tax benefit	$	612	$	514	$	1,320	$	881

Unrecognized stock-based compensation expense at June 30, 2022 is presented in the table below. Unrecognized stock-based compensation expense related to performance stock units is presented assuming attainment of the maximum payout rate as set forth by the performance criteria.

Non-vested stock units	$	13,954
Performance stock units	8,256
Total	$	22,210

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Note 11 - Earnings Per Common Share

Earnings per common share is computed using the two-class method as more fully described in our 2021 Form 10-K. The following table presents a reconciliation of net income available to common shareholders, net earnings allocated to common stock and the number of shares used in the calculation of basic and diluted earnings per common share.

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Net income	$	119,114	$	118,068	$	218,216	$	234,083
Less: Preferred stock dividends	1,669		1,669		3,338		3,820
Net income available to common shareholders	117,445		116,399		214,878		230,263
Less: Earnings allocated to participating securities	1,036		1,141		1,888		2,307
Net earnings allocated to common stock	$	116,409	$	115,258	$	212,990	$	227,956
Distributed earnings allocated to common stock	$	48,092	$	45,824	$	96,143	$	91,484
Undistributed earnings allocated to common stock	68,317		69,434		116,847		136,472
Net earnings allocated to common stock	$	116,409	$	115,258	$	212,990	$	227,956
Weighted-average shares outstanding for basic earnings per common share	64,112,828		63,606,340		64,082,185		63,457,245
Dilutive effect of stock compensation	354,401		495,819		382,395		511,288
Weighted-average shares outstanding for diluted earnings per common share	64,467,229		64,102,159		64,464,580		63,968,533

Note 12 - Defined Benefit Plans

The components of the combined net periodic expense (benefit) for our defined benefit pension plans are presented in the table below.

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Expected return on plan assets, net of expenses	$	(3,492)	$	(3,210)	$	(6,983)	$	(6,420)
Interest cost on projected benefit obligation	1,004		836		2,008		1,671
Net amortization and deferral	741		1,529		1,482		3,058
Net periodic expense (benefit)	$	(1,747)	$	(845)	$	(3,493)	$	(1,691)

Our non-qualified defined benefit pension plan is not funded. No contributions to the qualified defined benefit pension plan were made during the six months ended June 30, 2022. We do not expect to make any contributions to the qualified defined benefit plan during the remainder of 2022.

Note 13 - Income Taxes

Income tax expense was as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Current income tax expense (benefit)	$	22,646		$	14,065		$	35,705		$	17,790
Deferred income tax expense (benefit)	(1,972)			1,016			(2,404)			5,188
Income tax expense, as reported	$	20,674		$	15,081		$	33,301		$	22,978
Effective tax rate	14.8		%	11.3		%	13.2		%	8.9		%

We had a net deferred tax asset totaling $245.9 million at June 30, 2022 and a net deferred tax liability totaling $81.2 million at December 31, 2021. No valuation allowance for deferred tax assets was recorded at June 30, 2022 as management believes it is more likely than not that all of the deferred tax assets will be realized against deferred tax liabilities and projected future taxable income.

The effective income tax rates differed from the U.S. statutory federal income tax rates of 21% during the comparable periods primarily due to the effect of tax-exempt income from loans, securities and life insurance policies and the income tax effects associated with stock-based compensation. There were no unrecognized tax benefits during any of the reported periods.

30

Interest and/or penalties related to income taxes are reported as a component of income tax expense. Such amounts were not significant during the reported periods.

We file income tax returns in the U.S. federal jurisdiction. We are no longer subject to U.S. federal income tax examinations by tax authorities for years before 2018.

Note 14 - Other Comprehensive Income (Loss)

The before and after tax amounts allocated to each component of other comprehensive income (loss) are presented in the following table. Reclassification adjustments related to securities available for sale are included in net gain (loss) on securities transactions in the accompanying consolidated statements of income. Reclassification adjustments related to defined-benefit post-retirement benefit plans are included in the computation of net periodic pension expense (see Note 12 – Defined Benefit Plans).

	Three Months Ended June 30, 2022						Three Months Ended June 30, 2021
	Before Tax Amount		Tax  Expense, (Benefit)		Net of  Tax Amount		Before Tax Amount		Tax  Expense, (Benefit)		Net of  Tax Amount
Securities available for sale and transferred securities:
Change in net unrealized gain/loss during the period	$	(636,523)	$	(133,670)	$	(502,853)	$	30,668	$	6,441	$	24,227
Change in net unrealized gain on securities transferred to held to maturity	(189)		(40)		(149)		(245)		(52)		(193)
Reclassification adjustment for net (gains) losses included in net income	—		—		—		—		—		—
Total securities available for sale and transferred securities	(636,712)		(133,710)		(503,002)		30,423		6,389		24,034
Defined-benefit post-retirement benefit plans:
Reclassification adjustment for net amortization of actuarial gain/loss included in net income as a component of net periodic cost (benefit)	741		155		586		1,529		321		1,208
Total defined-benefit post-retirement benefit plans	741		155		586		1,529		321		1,208
Total other comprehensive income (loss)	$	(635,971)	$	(133,555)	$	(502,416)	$	31,952	$	6,710	$	25,242
	Six Months Ended June 30, 2022						Six Months Ended June 30, 2021
	Before Tax Amount		Tax  Expense, (Benefit)		Net of  Tax Amount		Before Tax Amount		Tax  Expense, (Benefit)		Net of  Tax Amount
Securities available for sale and transferred securities:
Change in net unrealized gain/loss during the period	$	(1,547,318)	$	(324,937)	$	(1,222,381)	$	(129,111)	$	(27,113)	$	(101,998)
Change in net unrealized gain on securities transferred to held to maturity	(398)		(84)		(314)		(504)		(106)		(398)
Reclassification adjustment for net (gains) losses included in net income	—		—		—		—		—		—
Total securities available for sale and transferred securities	(1,547,716)		(325,021)		(1,222,695)		(129,615)		(27,219)		(102,396)
Defined-benefit post-retirement benefit plans:
Reclassification adjustment for net amortization of actuarial gain/loss included in net income as a component of net periodic expense (benefit)	1,482		311		1,171		3,058		642		2,416
Total defined-benefit post-retirement benefit plans	1,482		311		1,171		3,058		642		2,416
Total other comprehensive income (loss)	$	(1,546,234)	$	(324,710)	$	(1,221,524)	$	(126,557)	$	(26,577)	$	(99,980)

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Activity in accumulated other comprehensive income (loss), net of tax, was as follows:

	Securities Available For Sale		Defined Benefit Plans		Accumulated Other Comprehensive Income
Balance January 1, 2022	$	380,209	$	(32,891)	$	347,318
Other comprehensive income (loss) before reclassifications	(1,222,695)		—		(1,222,695)
Reclassification of amounts included in net income	—		1,171		1,171
Net other comprehensive income (loss) during period	(1,222,695)		1,171		(1,221,524)
Balance at June 30, 2022	$	(842,486)	$	(31,720)	$	(874,206)
Balance January 1, 2021	$	563,801	$	(50,831)	$	512,970
Other comprehensive income (loss) before reclassifications	(102,396)		—		(102,396)
Reclassification of amounts included in net income	—		2,416		2,416
Net other comprehensive income (loss) during period	(102,396)		2,416		(99,980)
Balance at June 30, 2021	$	461,405	$	(48,415)	$	412,990

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Note 15 – Operating Segments

We are managed under a matrix organizational structure whereby our two primary operating segments, Banking and Frost Wealth Advisors, overlap a regional reporting structure. See our 2021 Form 10-K for additional information regarding our operating segments. Summarized operating results by segment were as follows:

	Banking		Frost  Wealth Advisors		Non-Banks		Consolidated
Three months ended:
June 30, 2022
Net interest income (expense)	$	289,186	$	958	$	(1,936)	$	288,208
Credit loss expense	1		(1)		—		—
Non-interest income	55,397		43,054		(524)		97,927
Non-interest expense	211,044		33,158		2,145		246,347
Income (loss) before income taxes	133,538		10,855		(4,605)		139,788
Income tax expense (benefit)	19,821		2,279		(1,426)		20,674
Net income (loss)	113,717		8,576		(3,179)		119,114
Preferred stock dividends	—		—		1,669		1,669
Net income (loss) available to common shareholders	$	113,717	$	8,576	$	(4,848)	$	117,445
Revenues from (expenses to) external customers	$	344,583	$	44,012	$	(2,460)	$	386,135
June 30, 2021
Net interest income (expense)	$	258,450	$	508	$	(1,802)	$	257,156
Credit loss expense (benefit)	—		—		—		—
Non-interest income	48,944		42,534		(231)		91,247
Non-interest expense	183,109		30,014		2,131		215,254
Income (loss) before income taxes	124,285		13,028		(4,164)		133,149
Income tax expense (benefit)	13,605		2,736		(1,260)		15,081
Net income (loss)	110,680		10,292		(2,904)		118,068
Preferred stock dividends	—		—		1,669		1,669
Net income (loss) available to common shareholders	$	110,680	$	10,292	$	(4,573)	$	116,399
Revenues from (expenses to) external customers	$	307,394	$	43,042	$	(2,033)	$	348,403
Six months ended:
June 30, 2022
Net interest income (expense)	$	539,305	$	1,658	$	(3,684)	$	537,279
Credit loss expense (benefit)	—		—		—		—
Non-interest income	114,103		86,283		(1,069)		199,317
Non-interest expense	417,582		64,068		3,429		485,079
Income (loss) before income taxes	235,826		23,873		(8,182)		251,517
Income tax expense (benefit)	30,835		5,013		(2,547)		33,301
Net income (loss)	204,991		18,860		(5,635)		218,216
Preferred stock dividends	—		—		3,338		3,338
Net income (loss) available to common shareholders	$	204,991	$	18,860	$	(8,973)	$	214,878
Revenues from (expenses to) external customers	$	653,408	$	87,941	$	(4,753)	$	736,596
June 30, 2021
Net interest income (expense)	$	500,655	$	994	$	(3,612)	$	498,037
Credit loss expense	63		—		—		63
Non-interest income	102,724		82,143		(384)		184,483
Non-interest expense	362,260		59,951		3,185		425,396
Income (loss) before income taxes	241,056		23,186		(7,181)		257,061
Income tax expense (benefit)	20,782		4,869		(2,673)		22,978
Net income (loss)	220,274		18,317		(4,508)		234,083
Preferred stock dividends	—		—		3,820		3,820
Net income (loss) available to common shareholders	$	220,274	$	18,317	$	(8,328)	$	230,263
Revenues from (expenses to) external customers	$	603,379	$	83,137	$	(3,996)	$	682,520

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Note 16 – Fair Value Measurements

The fair value of an asset or liability is the price that would be received to sell that asset or paid to transfer that liability in an orderly transaction occurring in the principal market (or most advantageous market in the absence of a principal market) for such asset or liability. In estimating fair value, we utilize valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. Such valuation techniques are consistently applied. Inputs to valuation techniques include the assumptions that market participants would use in pricing an asset or liability. ASC Topic 820 establishes a three-level fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. See our 2021 Form 10-K for additional information regarding the fair value hierarchy and a description of our valuation techniques.

Financial Assets and Financial Liabilities. The tables below summarize financial assets and financial liabilities measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021, segregated by the level of the valuation inputs within the fair value hierarchy of ASC Topic 820 utilized to measure fair value.

	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
June 30, 2022
Securities available for sale:
U.S. Treasury	$	4,416,299	$	—	$	—	$	4,416,299
Residential mortgage-backed securities	—		5,335,725		—		5,335,725
States and political subdivisions	—		6,987,296		—		6,987,296
Other	—		42,365		—		42,365
Trading account securities:
U.S. Treasury	24,615		—		—		24,615
States and political subdivisions	—		65		—		65
Derivative assets:
Interest rate swaps, caps and floors	—		41,485		—		41,485
Commodity swaps and options	—		245,218		—		245,218
Foreign currency forward contracts	199		—		—		199
Derivative liabilities:
Interest rate swaps, caps and floors	—		58,240		—		58,240
Commodity swaps and options	—		243,638		—		243,638
Foreign currency forward contracts	195		—		—		195
December 31, 2021
Securities available for sale:
U.S. Treasury	$	2,179,433	$	—	$	—	$	2,179,433
Residential mortgage-backed securities	—		4,066,265		—		4,066,265
States and political subdivisions	—		7,636,571		—		7,636,571
Other	—		42,359		—		42,359
Trading account securities:
U.S. Treasury	24,237		—		—		24,237
States and political subdivisions	—		925		—		925
Derivative assets:
Interest rate swaps, caps and floors	—		44,310		—		44,310
Commodity swaps and options	—		114,757		—		114,757
Foreign currency forward contracts	33		—		—		33
Derivative liabilities:
Interest rate swaps, caps and floors	—		25,261		—		25,261
Commodity swaps and options	—		113,261		—		113,261
Foreign currency forward contracts	55		—		—		55

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Certain financial assets and financial liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances. Financial assets measured at fair value on a non-recurring basis during the reported periods include certain collateral dependent loans reported at the fair value of the underlying collateral if repayment is expected solely from the collateral.

The following table presents collateral dependent loans that were remeasured and reported at fair value through a specific allocation of the allowance for credit losses on loans based upon the fair value of the underlying collateral during the reported periods.

	Six Months Ended June 30, 2022				Six Months Ended June 30, 2021
	Level 2		Level 3		Level 2		Level 3
Carrying value before allocations	$	5,454	$	3,614	$	3,399	$	19,423
Specific (allocations) reversals of prior allocations	(1,327)		6,877		(336)		(3,273)
Fair value	$	4,127	$	10,491	$	3,063	$	16,150

Non-Financial Assets and Non-Financial Liabilities. We do not have any non-financial assets or non-financial liabilities measured at fair value on a recurring basis. From time to time, non-financial assets measured at fair value on a non-recurring basis may include certain foreclosed assets which, upon initial recognition, were remeasured and reported at fair value through a charge-off to the allowance for loan losses and certain foreclosed assets which, subsequent to their initial recognition, were remeasured at fair value through a write-down included in other non-interest expense. There were no such fair value measurements during the reported periods.

Financial Instruments Reported at Amortized Cost. The estimated fair values of financial instruments that are reported at amortized cost in our consolidated balance sheets, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value, were as follows:

	June 30, 2022				December 31, 2021
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial assets:
Level 2 inputs:
Cash and cash equivalents	$	13,658,585	$	13,658,585	$	16,583,000	$	16,583,000
Securities held to maturity	1,946,428		1,828,515		1,749,179		1,809,143
Cash surrender value of life insurance policies	189,823		189,823		190,139		190,139
Accrued interest receivable	194,049		194,049		179,111		179,111
Level 3 inputs:
Loans, net	16,496,394		16,126,497		16,087,731		16,079,454
Financial liabilities:
Level 2 inputs:
Deposits	45,601,765		45,584,113		42,695,696		41,343,426
Federal funds purchased	43,200		43,200		25,925		25,925
Repurchase agreements	1,664,685		1,664,685		2,740,799		2,740,799
Junior subordinated deferrable interest debentures	123,040		123,712		123,011		123,712
Subordinated notes	99,256		99,626		99,178		111,430
Accrued interest payable	6,059		6,059		3,026		3,026

Under ASC Topic 825, entities may choose to measure eligible financial instruments at fair value at specified election dates. The fair value measurement option (i) may be applied instrument by instrument, with certain exceptions, (ii) is generally irrevocable and (iii) is applied only to entire instruments and not to portions of instruments. Unrealized gains and losses on items for which the fair value measurement option has been elected must be reported in earnings at each subsequent reporting date. During the reported periods, we had no financial instruments measured at fair value under the fair value measurement option.

35

Note 17 - Accounting Standards Updates

Information about certain recently issued accounting standards updates is presented below. Also refer to Note 20 - Accounting Standards Updates in our 2021 Form 10-K for additional information related to previously issued accounting standards updates.

ASU 2022-01, “Derivatives and Hedging (Topic 815): Fair Value Hedging - Portfolio Layer Method.” Under prior guidance, entities can apply the last-of-layer hedging method to hedge the exposure of a closed portfolio of prepayable financial assets to fair value changes due to changes in interest rates for a portion of the portfolio that is not expected to be affected by prepayments, defaults, and other events affecting the timing and amount of cash flows. ASU 2022-01 expands the last-of-layer method, which permits only one hedge layer, to allow multiple hedged layers of a single closed portfolio. To reflect that expansion, the last-of-layer method is renamed the portfolio layer method. ASU 2022-01 also (i) expands the scope of the portfolio layer method to include non-prepayable financial assets, (ii) specifies eligible hedging instruments in a single-layer hedge, (iii) provides additional guidance on the accounting for and disclosure of hedge basis adjustments under the portfolio layer method and (iv) specifies how hedge basis adjustments should be considered when determining credit losses for the assets included in the closed portfolio. ASU 2022-01 will be effective for us on January 1, 2023 though early adoption is permitted. The adoption of ASU 2022-01 is not expected to have a significant impact on our financial statements.

ASU 2022-02, “Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures.” ASU 2022-02 eliminates the accounting guidance for troubled debt restructurings in Accounting Standards Codification (“ASC”) Subtopic 310-40, Receivables - Troubled Debt Restructurings by Creditors, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. Additionally, ASU 2022-02 requires entities to disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of ASC Subtopic 3126-20, Financial Instruments - Credit Losses - Measured at Amortized Cost. ASU 2022-02 will be effective for us on January 1, 2023 though early adoption is permitted. The adoption of ASU 2022-02 is not expected to have a significant impact on our financial statements.

ASU 2022-03, “Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions.” ASU 2022-03 clarifies that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. ASU 2022-03 also clarifies that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction and requires certain new disclosures for equity securities subject to contractual sale restrictions. ASU 2022-03 will be effective for us on January 1, 2024 though early adoption is permitted. The adoption of ASU 2022-03 is not expected to have a significant impact on our financial statements.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Financial Review

Cullen/Frost Bankers, Inc.

The following discussion should be read in conjunction with our consolidated financial statements, and notes thereto, for the year ended December 31, 2021, and the other information included in the 2021 Form 10-K. Operating results for the three and six months ended June 30, 2022 are not necessarily indicative of the results for the year ending December 31, 2022 or any future period.

Dollar amounts in tables are stated in thousands, except for per share amounts.

Forward-Looking Statements and Factors that Could Affect Future Results

Certain statements contained in this Quarterly Report on Form 10-Q that are not statements of historical fact constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”), including statements regarding the potential effects of the ongoing COVID-19 pandemic on our business, financial condition, liquidity and results of operations, notwithstanding that such statements are not specifically identified as such. In addition, certain statements may be contained in our future filings with the SEC, in press releases, and in oral and written statements made by us or with our approval that are not statements of historical fact and constitute forward-looking statements within the meaning of the Act. Examples of forward-looking statements include, but are not limited to: (i) projections of revenues, expenses, income or loss, earnings or loss per share, the payment or nonpayment of dividends, capital structure and other financial items; (ii) statements of plans, objectives and expectations of Cullen/Frost or its management or Board of Directors, including those relating to products, services or operations; (iii) statements of future economic performance; and (iv) statements of assumptions underlying such statements. Words such as “believes”, “anticipates”, “expects”, “intends”, “targeted”, “continue”, “remain”, “will”, “should”, “may” and other similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements.

Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those in such statements. Factors that could cause actual results to differ from those discussed in the forward-looking statements include, but are not limited to:

•Local, regional, national and international economic conditions and the impact they may have on us and our customers and our assessment of that impact.

•Volatility and disruption in national and international financial and commodity markets.

•Government intervention in the U.S. financial system.

•Changes in the mix of loan geographies, sectors and types or the level of non-performing assets and charge-offs.

•Changes in estimates of future reserve requirements based upon the periodic review thereof under relevant regulatory and accounting requirements.

•The effects of and changes in trade and monetary and fiscal policies and laws, including the interest rate policies of the Federal Reserve Board.

•Inflation, interest rate, securities market and monetary fluctuations.

•The effect of changes in laws and regulations (including laws and regulations concerning taxes, banking, securities and insurance) and their application with which we and our subsidiaries must comply.

•The soundness of other financial institutions.

•Political instability.

•Impairment of our goodwill or other intangible assets.

•Acts of God or of war or terrorism.

•The potential impact of climate change.

•The timely development and acceptance of new products and services and perceived overall value of these products and services by users.

•Changes in consumer spending, borrowing and saving habits.

•Changes in the financial performance and/or condition of our borrowers.

•Technological changes.

•The cost and effects of cyber incidents or other failures, interruptions or security breaches of our systems or those of our customers or third-party providers.

•Acquisitions and integration of acquired businesses.

•Our ability to increase market share and control expenses.

•Our ability to attract and retain qualified employees.

•Changes in the competitive environment in our markets and among banking organizations and other financial service providers.

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•The effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Public Company Accounting Oversight Board, the Financial Accounting Standards Board and other accounting standard setters.

•Changes in the reliability of our vendors, internal control systems or information systems.

•Changes in our liquidity position.

•Changes in our organization, compensation and benefit plans.

•The impact of the ongoing COVID-19 pandemic and any other pandemic, epidemic or health-related crisis.

•The costs and effects of legal and regulatory developments, the resolution of legal proceedings or regulatory or other governmental inquiries, the results of regulatory examinations or reviews and the ability to obtain required regulatory approvals.

•Greater than expected costs or difficulties related to the integration of new products and lines of business.

•Our success at managing the risks involved in the foregoing items.

In addition, financial markets and global supply chains may be adversely affected by the current or anticipated impact of military conflict, including the current Russian invasion of Ukraine, terrorism or other geopolitical events.

Further, statements about the potential effects of the ongoing COVID-19 pandemic on our business, financial condition, liquidity and results of operations may constitute forward-looking statements and are subject to the risk that the actual effects may differ, possibly materially, from what is reflected in those forward-looking statements due to factors and future developments that are uncertain, unpredictable and in many cases beyond our control, including the scope and duration of the pandemic, actions taken by governmental authorities in response to the pandemic, and the direct and indirect impact of the pandemic on our customers, clients, third parties and us.

Forward-looking statements speak only as of the date on which such statements are made. We do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events.

COVID-19 Effects and Actions

Our business has been, and continues to be, impacted by the effects of the COVID-19 pandemic. There remains many uncertainties related to COVID-19 including, among other things, the ongoing impact to our customers, employees and vendors; the impact to the financial services and banking industry; and the impact to the economy as a whole as well as the effect of actions taken, or that may yet be taken, or inaction by governmental authorities to mitigate both the economic and health-related effects of COVID-19. Refer to our 2021 Form 10-K for further information regarding (i) the impact of the COVID-19 pandemic on our operations and our results thereof, as well as the impact on our financial position and (ii) legislative and regulatory actions taken related to the COVID-19 pandemic, particularly as they relate to the banking and financial services industry.

Application of Critical Accounting Policies and Accounting Estimates

We follow accounting and reporting policies that conform, in all material respects, to accounting principles generally accepted in the United States and to general practices within the financial services industry. The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. While we base estimates on historical experience, current information and other factors deemed to be relevant, actual results could differ from those estimates.

We consider accounting estimates to be critical to reported financial results if (i) the accounting estimate requires management to make assumptions about matters that are highly uncertain and (ii) different estimates that management reasonably could have used for the accounting estimate in the current period, or changes in the accounting estimate that are reasonably likely to occur from period to period, could have a material impact on our financial statements.

Accounting policies related to the allowance for credit losses on financial instruments including loans and off-balance-sheet credit exposures are considered to be critical as these policies involve considerable subjective judgment and estimation by management. In the case of loans, the allowance for credit losses is a contra-asset valuation account, calculated in accordance with Accounting Standards Codification (“ASC”) Topic 326 (“ASC 326”) Financial Instruments - Credit Losses, that is deducted from the amortized cost basis of loans to present the net amount expected to be collected. In the case of off-balance-sheet credit exposures, the allowance for credit losses is a liability account, calculated in accordance with ASC 326, reported as a component of accrued interest payable and other liabilities in our consolidated balance sheets. The amount of each allowance account represents management's best estimate of current expected credit losses on these financial instruments considering available information, from internal and external sources, relevant to assessing exposure to credit loss over the contractual term

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of the instrument. Relevant available information includes historical credit loss experience, current conditions and reasonable and supportable forecasts. While historical credit loss experience provides the basis for the estimation of expected credit losses, adjustments to historical loss information may be made for differences in current portfolio-specific risk characteristics, environmental conditions or other relevant factors. While management utilizes its best judgment and information available, the ultimate adequacy of our allowance accounts is dependent upon a variety of factors beyond our control, including the performance of our portfolios, the economy, changes in interest rates and the view of the regulatory authorities toward classification of assets. Refer to the 2021 Form 10-K for additional information regarding critical accounting policies.

Overview

A discussion of our results of operations is presented below. Certain reclassifications have been made to make prior periods comparable. Taxable-equivalent adjustments are the result of increasing income from tax-free loans and investments by an amount equal to the taxes that would be paid if the income were fully taxable based on a 21% federal tax rate, thus making tax-exempt yields comparable to taxable asset yields.

Results of Operations

Net income available to common shareholders totaled $117.4 million, or $1.81 per diluted common share, and $214.9 million, or $3.31 per diluted common share for the three and six months ended June 30, 2022 compared to $116.4 million, or $1.80 per diluted common share, and $230.3 million, or $3.57 per diluted common share for the three and six months ended June 30, 2021.

Selected data for the comparable periods was as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Taxable-equivalent net interest income	$	311,377		$	279,997		$	583,572		$	543,946
Taxable-equivalent adjustment	23,169			22,841			46,293			45,909
Net interest income	288,208			257,156			537,279			498,037
Credit loss expense	—			—			—			63
Net interest income after credit loss expense	288,208			257,156			537,279			497,974
Non-interest income	97,927			91,247			199,317			184,483
Non-interest expense	246,347			215,254			485,079			425,396
Income before income taxes	139,788			133,149			251,517			257,061
Income taxes	20,674			15,081			33,301			22,978
Net income	119,114			118,068			218,216			234,083
Preferred stock dividends	1,669			1,669			3,338			3,820
Net income available to common shareholders	$	117,445		$	116,399		$	214,878		$	230,263
Earnings per common share – basic	$	1.82		$	1.81		$	3.32		$	3.59
Earnings per common share – diluted	1.81			1.80			3.31			3.57
Dividends per common share	0.75			0.72			1.50			1.44
Return on average assets	0.92		%	1.02		%	0.85		%	1.05		%
Return on average common equity	13.88			11.18			11.53			11.16
Average shareholders’ equity to average assets	6.93			9.46			7.70			9.77

Net income available to common shareholders increased $1.0 million, or 0.9%, for the three months ended June 30, 2022 and decreased $15.4 million, or 6.7%, for the six months ended June 30, 2022 compared to the same periods in 2021. The increase during the three months ended June 30, 2022 was primarily the result of a $31.1 million increase in net interest income and a $6.7 million increase in non-interest income partly offset by a $31.1 million increase in non-interest expense and a $5.6 million increase in income tax expense. The decrease during the six months ended June 30, 2022 was primarily the result of a $59.7 million increase in non-interest expense and a $10.3 million increase in income tax expense partly offset by a $39.2 million increase in net interest income and a $14.8 million increase in non-interest income. Details of the changes in the various components of net income are further discussed below.

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Net Interest Income

Net interest income is the difference between interest income on earning assets, such as loans and securities, and interest expense on liabilities, such as deposits and borrowings, which are used to fund those assets. Net interest income is our largest source of revenue, representing 72.9% of total revenue during the first six months of 2022. Net interest margin is the ratio of taxable-equivalent net interest income to average earning assets for the period. The level of interest rates and the volume and mix of earning assets and interest-bearing liabilities impact net interest income and net interest margin.

The Federal Reserve influences the general market rates of interest, including the deposit and loan rates offered by many financial institutions. As of June 30, 2022, approximately 42.0% of our loans had a fixed interest rate, while the remaining loans had floating interest rates that were primarily tied to the prime interest rate (approximately 29.2%) or the London Interbank Offered Rate (“LIBOR”) (approximately 17.0%). We discontinued originating LIBOR-based loans effective December 31, 2021 and have begun to negotiate loans using our preferred replacement index, the American Interbank Offered Rate (“AMERIBOR”), a benchmark developed by the American Financial Exchange, the Secured Overnight Financing Rate (“SOFR”) or a benchmark developed by Bloomberg Index Services (“BSBY”). As of June 30, 2022, approximately 11.7% of loans were tied to one of these indexes. For our currently outstanding LIBOR-based loans, the timing and manner in which each customer’s contract transitions from LIBOR to another rate will vary on a case-by-case basis. Our goal is to complete all transitions by the first quarter of 2023.

Select average market rates for the periods indicated are presented in the table below.

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Federal funds target rate upper bound	0.95	%	0.25	%	0.62	%	0.25	%
Effective federal funds rate	0.77		0.07		0.45		0.07
Interest on reserve balances	0.84		0.11		0.52		0.10
Prime	3.95		3.25		3.62		3.25
1-Month LIBOR	1.00		0.10		0.61		0.11
3-Month LIBOR	1.51		0.16		1.01		0.18
AMERIBOR Term-30(1)	0.87		0.09		0.53		0.11
AMERIBOR Term-90(1)	1.42		0.15		0.97		0.17
1-Month Term SOFR(2)	0.92		0.02		0.54		0.03
3-Month Term SOFR(2)	1.31		0.03		0.82		0.04
Bloomberg 1-Month Short-Term Bank Yield Index	0.87		0.07		0.52		0.08
Bloomberg 3-Month Short-Term Bank Yield Index	1.41		0.12		0.94		0.14

____________________

(1)AMERIBOR Term-30 and AMERIBOR Term-90 are published by the American Financial Exchange.

(2)1-Month TERM SOFR and 3-Month Term SOFR market data are the property of Chicago Mercantile Exchange, Inc. or its licensors as applicable. All rights reserved, or otherwise licensed by Chicago Mercantile Exchange Inc.

Effective July 28, 2022, the Federal Reserve increased the target range for the federal funds rate to 2.25% to 2.50% and stated that they anticipate on-going increases in the target range will be appropriate. Additionally, the interest rate paid on reserve balances was increased to 2.40%.

We are primarily funded by core deposits, with non-interest-bearing demand deposits historically being a significant source of funds. This lower-cost funding base is expected to have a positive impact on our net interest income and net interest margin in a rising interest rate environment. See Item 3. Quantitative and Qualitative Disclosures About Market Risk elsewhere in this report for information about our sensitivity to interest rates. Further analysis of the components of our net interest margin is presented below.

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The following tables present an analysis of net interest income and net interest spread for the periods indicated, including average outstanding balances for each major category of interest-earning assets and interest-bearing liabilities, the interest earned or paid on such amounts, and the average rate earned or paid on such assets or liabilities, respectively. The tables also set forth the net interest margin on average total interest-earning assets for the same periods. For these computations: (i) average balances are presented on a daily average basis, (ii) information is shown on a taxable-equivalent basis assuming a 21% tax rate, (iii) average loans include loans on non-accrual status, and (iv) average securities include unrealized gains and losses on securities available for sale, while yields are based on average amortized cost.

	Quarter To Date						Quarter To Date
	June 30, 2022						June 30, 2021
	Average Balance		Interest Income/ Expense		Yield/ Cost		Average Balance		Interest Income/ Expense		Yield/ Cost
Assets:
Interest-bearing deposits	$	13,040,852	$	26,371	0.80	%	$	13,346,885	$	3,614	0.11	%
Federal funds sold	31,173		99		1.26		21,390		8		0.15
Resell agreements	3,027		10		1.32		7,905		4		0.20
Securities:
Taxable	10,327,627		56,365		2.04		4,168,034		20,602		2.01
Tax-exempt	7,802,864		79,001		4.04		8,125,745		77,801		4.09
Total securities	18,130,491		135,366		2.87		12,293,779		98,403		3.36
Loans, net of unearned discounts	16,674,489		167,925		4.04		17,246,389		183,846		4.28
Total Earning Assets and Average Rate Earned	47,880,032		329,771		2.71		42,916,348		285,875		2.71
Cash and due from banks	646,121						529,447
Allowance for credit losses on loans and securities	(246,976)						(262,389)
Premises and equipment, net	1,049,494						1,040,400
Accrued interest and other assets	1,758,932						1,441,264
Total Assets	$	51,087,603					$	45,665,070
Liabilities:
Non-interest-bearing demand deposits	18,354,651						16,456,245
Interest-bearing deposits:
Savings and interest checking	12,336,089		1,206		0.04		10,881,459		379		0.01
Money market deposit accounts	12,607,969		11,115		0.35		9,790,253		2,196		0.09
Time accounts	1,427,267		2,272		0.64		1,142,873		924		0.32
Total interest-bearing deposits	26,371,325		14,593		0.22		21,814,585		3,499		0.06
Total deposits	44,725,976				0.13		38,270,830				0.04
Federal funds purchased	35,529		75		0.84		34,344		7		0.08
Repurchase agreements	1,742,669		1,790		0.41		2,058,818		570		0.11
Junior subordinated deferrable interest debentures	123,035		772		2.51		136,380		638		1.87
Subordinated notes	99,242		1,164		4.69		99,085		1,164		4.70
Total Interest-Bearing Funds and Average Rate Paid	28,371,800		18,394		0.26		24,143,212		5,878		0.10
Accrued interest and other liabilities	821,571						745,406
Total Liabilities	47,548,022						41,344,863
Shareholders’ Equity	3,539,581						4,320,207
Total Liabilities and Shareholders’ Equity	$	51,087,603					$	45,665,070
Net interest income			$	311,377					$	279,997
Net interest spread					2.45	%					2.61	%
Net interest income to total average earning assets					2.56	%					2.65	%

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	Year To Date						Year To Date
	June 30, 2022						June 30, 2021
	Average Balance		Interest Income/ Expense		Yield/ Cost		Average Balance		Interest Income/ Expense		Yield/ Cost
Assets:
Interest-bearing deposits	$	13,401,664	$	32,714	0.49	%	$	11,615,467	$	6,047	0.10	%
Federal funds sold	22,581		112		0.99		13,222		11		0.17
Resell agreements	4,423		14		0.63		5,285		5		0.19
Securities:
Taxable	9,667,818		99,423		1.97		4,093,306		40,630		2.03
Tax-exempt	7,983,161		157,900		4.03		8,177,407		156,376		4.09
Total securities	17,650,979		257,323		2.87		12,270,713		197,006		3.38
Loans, net of unearned discounts	16,531,269		318,993		3.89		17,463,944		352,485		4.07
Total Earning Assets and Average Rate Earned	47,610,916		609,156		2.56		41,368,631		555,554		2.74
Cash and due from banks	648,609						530,196
Allowance for credit losses on loans and securities	(247,883)						(264,798)
Premises and equipment, net	1,050,111						1,043,156
Accrued interest and other assets	1,648,876						1,425,072
Total Assets	$	50,710,629					$	44,102,257
Liabilities:
Non-interest-bearing demand deposits	18,159,023						15,887,529
Interest-bearing deposits:
Savings and interest checking	12,146,331		1,616		0.03		10,300,751		735		0.01
Money market deposit accounts	12,235,442		14,766		0.24		9,519,014		3,875		0.08
Time accounts	1,308,025		3,123		0.48		1,140,570		2,406		0.43
Total interest-bearing deposits	25,689,798		19,505		0.15		20,960,335		7,016		0.07
Total deposits	43,848,821				0.09		36,847,864				0.04
Federal funds purchased	31,666		87		0.55		37,461		15		0.08
Repurchase agreements	1,896,270		2,308		0.24		1,950,005		965		0.10
Junior subordinated deferrable interest debentures	123,028		1,356		2.19		136,373		1,284		1.88
Subordinated notes	99,222		2,328		4.69		99,065		2,328		4.70
Total Interest-Bearing Funds and Average Rate Paid	27,839,984		25,584		0.18		23,183,239		11,608		0.10
Accrued interest and other liabilities	808,896						723,807
Total Liabilities	46,807,903						39,794,575
Shareholders’ Equity	3,902,726						4,307,682
Total Liabilities and Shareholders’ Equity	$	50,710,629					$	44,102,257
Net interest income			$	583,572					$	543,946
Net interest spread					2.38	%					2.64	%
Net interest income to total average earning assets					2.45	%					2.68	%

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The following table presents the changes in taxable-equivalent net interest income and identifies the changes due to differences in the average volume of earning assets and interest-bearing liabilities and the changes due to changes in the average interest rate on those assets and liabilities. The changes in net interest income due to changes in both average volume and average interest rate have been allocated to the average volume change or the average interest rate change in proportion to the absolute amounts of the change in each.

	Three Months Ended
	June 30, 2022 vs. June 30, 2021
	Increase (Decrease) Due to Change in
	Rate		Volume		Total
Interest-bearing deposits	$	22,842	$	(85)	$	22,757
Federal funds sold	85		6		91
Resell agreements	9		(3)		6
Securities:
Taxable	312		35,451		35,763
Tax-exempt	(986)		2,186		1,200
Loans, net of unearned discounts	(10,005)		(5,916)		(15,921)
Total earning assets	12,257		31,639		43,896
Savings and interest checking	792		35		827
Money market deposit accounts	8,111		808		8,919
Time accounts	1,079		269		1,348
Federal funds purchased	68		—		68
Repurchase agreements	1,320		(100)		1,220
Junior subordinated deferrable interest debentures	201		(67)		134
Subordinated notes	(2)		2		—
Total interest-bearing liabilities	11,569		947		12,516
Net change	$	688	$	30,692	$	31,380

	Six Months Ended
	June 30, 2022 vs. June 30, 2021
	Increase (Decrease) Due to Change in
	Rate		Volume		Total
Interest-bearing deposits	$	25,656	$	1,011	$	26,667
Federal funds sold	88		13		101
Resell agreements	10		(1)		9
Securities:
Taxable	(1,237)		60,030		58,793
Tax-exempt	(2,317)		3,841		1,524
Loans, net of unearned discounts	(15,172)		(18,320)		(33,492)
Total earning assets	7,028		46,574		53,602
Savings and interest checking	809		72		881
Money market deposit accounts	9,531		1,360		10,891
Time accounts	317		400		717
Federal funds purchased	74		(2)		72
Repurchase agreements	1,370		(27)		1,343
Junior subordinated deferrable interest debentures	202		(130)		72
Subordinated notes	(4)		4		—
Total interest-bearing liabilities	12,299		1,677		13,976
Net change	$	(5,271)	$	44,897	$	39,626

Taxable-equivalent net interest income for the three months ended June 30, 2022 increased $31.4 million, or 11.2%, while taxable-equivalent net interest income for the six months ended June 30, 2022 increased $39.6 million, or 7.3%, compared to the same periods in 2021. The increase in taxable-equivalent net interest income during the three months ended June 30, 2022 was primarily related to an increase in the average volume of taxable securities, an increase in the average yield on interest-bearing deposits (primarily amounts held in an interest-bearing account at the Federal Reserve) and, to a much lesser extent, an increase in the average volume of tax-exempt securities. The impact of these items was partly offset by a decrease in the average volume of loans combined with decreases in the average yields on loans and tax-exempt securities and increases in the

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average cost and average volume of interest-bearing deposit accounts (primarily money market deposit accounts) and an increase in the average cost of repurchase agreements. The increase in taxable-equivalent net interest income during the six months ended June 30, 2022 was primarily related to an increase in the average volume of taxable securities and an increase in the average yield on interest-bearing deposits (primarily amounts held in an interest-bearing account at the Federal Reserve) and, to a much lesser extent, increases in the average volumes of tax-exempt securities and interest-bearing deposits (primarily amounts held in an interest-bearing account at the Federal Reserve). The impact of these items was partly offset by a decrease in the average volume of loans combined with decreases in the average yields on loans, tax-exempt securities and taxable securities; an increase in the average cost and average volume of interest-bearing deposits (primarily money market deposit accounts); and an increase in the average cost of repurchase agreements. As a result of these fluctuations, the taxable-equivalent net interest margin decreased 9 basis points from 2.65% during the three months ended June 30, 2021 to 2.56% during the three months ended June 30, 2022 while the taxable-equivalent net interest margin decreased 23 basis points from 2.68% during the six months ended June 30, 2021 to 2.45% during the six months ended June 30, 2022.

The average volume of interest-earning assets for the three months ended June 30, 2022 increased $5.0 billion while the average volume of interest-earning assets for the six months ended June 30, 2022 increased $6.2 billion compared to the same periods in 2021. The increase in the average volume of interest-earning assets during the three months ended June 30, 2022 primarily related to a $6.2 billion increase in average taxable securities partly offset by a $571.9 million decrease in average loans (which was primarily impacted by a $2.5 billion decrease in average PPP loans, as further discussed below), a $322.9 million decrease in average tax-exempt securities and a $306.0 million decrease in average interest-bearing deposits (primarily amounts held in an interest-bearing account at the Federal Reserve). The increase in the average volume of interest-earning assets during the six months ended June 30, 2022 primarily related to a $5.6 billion increase in average taxable securities and a $1.8 billion increase in average interest-bearing deposits (primarily amounts held in an interest-bearing account at the Federal Reserve) partly offset by a $932.7 million decrease in average loans (which was primarily impacted by a $2.5 billion decrease in average PPP loans, as further discussed below) and a $194.2 million decrease in average tax-exempt securities.

The average taxable-equivalent yield on interest-earning assets was 2.71% during both the three months ended June 30, 2021 and 2022 while the average taxable-equivalent yield on interest-earning assets decreased 18 basis points from 2.74% during the six months ended June 30, 2021 to 2.56% during the six months ended June 30, 2022. The average taxable-equivalent yield on interest-earning assets during 2022 was impacted by the aforementioned changes in market interest rates and changes in the volume and relative mix of interest-earning assets.

The average taxable-equivalent yield on loans decreased 24 basis points from 4.28% during the three months ended June 30, 2021 to 4.04% during the three months ended June 30, 2022 while the average taxable-equivalent yield on loans decreased 18 basis points from 4.07% during the six months ended June 30, 2021 to 3.89% during the six months ended June 30, 2022. The average taxable-equivalent yield on loans during the three and six months ended June 30, 2021 was positively impacted by a higher average proportion of higher-yielding PPP loans to total loans compared to the three and six months ended June 30, 2022. The average volume of loans for the three months ended June 30, 2022 decreased $571.9 million, or 3.3%, while the average volume of loans for the six months ended June 30, 2022 decreased $932.7 million, or 5.3%, compared to the same periods in 2021. The decreases in the average volume of loans were primarily due to a $2.5 billion decrease in the average volumes of PPP loans during both the three and six months ended June 30, 2022. Excluding PPP loans, average loans would have increased $1.9 billion, or 13.2%, and $1.6 billion, or 10.8%, during the three and six months ended June 30, 2022, respectively, compared to the same periods in 2021. Loans made up approximately 34.8% and 34.7% of average interest-earning assets during the three and six months ended June 30, 2022, respectively, compared to 40.2% and 42.2% during the same respective periods in 2021.

During the six months ended June 30, 2022, we recognized approximately $2.6 million in PPP loan related deferred processing fees (net of amortization of related deferred origination costs) as a yield adjustment and this amount is included in interest income on loans. Such amounts were not significant during the three months ended June 30, 2022. During the three and six months ended June 30, 2021, we recognized approximately $38.8 million and $62.3 million, respectively, in PPP loan related deferred processing fees (net of amortization of related deferred origination costs). As a result of the inclusion of these net fees in interest income, the average yields on PPP loans was 1.00% and 3.32% during the three and six months ended June 30, 2022, and 6.89% and 5.60% during the three and six months ended June 30, 2021, compared to the stated interest rate of 1.0% on these loans.

The average taxable-equivalent yield on securities was 2.87% during both the three and six months ended June 30, 2022, decreasing 49 basis points from 3.36% during the three months ended June 30, 2021 and decreasing 51 basis points from 3.38% during the six months ended June 30, 2021. The average yield on taxable securities was 2.04% during the three months ended June 30, 2022 increasing 3 basis points from 2.01% during the same period in 2021 while the average yield on taxable securities was 1.97% during the six months ended June 30, 2022 decreasing 6 basis points from 2.03% during the same period in 2021. The average taxable-equivalent yield on tax-exempt securities was 4.04% during the three months ended June 30, 2022

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decreasing 5 basis points from 4.09% during the same period in 2021 while the average taxable-equivalent yield on tax-exempt securities was 4.03% during the six months ended June 30, 2022, decreasing 6 basis points from 4.09% during the same period in 2021.

Tax exempt securities made up approximately 43.0% and 45.2% of total average securities during the three and six months ended June 30, 2022, respectively, compared to 66.1% and 66.6% during the same periods in 2021. The average volume of total securities during the three months ended June 30, 2022 increased $5.8 billion, or 47.5%, compared to the same period in 2021 while the average volume of total securities during the six months ended June 30, 2022 increased $5.4 billion, or 43.8%, compared to the same period in 2021. Securities made up approximately 37.9% of average interest-earning assets during the three months ended June 30, 2022 compared to 28.6% during the same period in 2021 while securities made up approximately 37.1% of average interest-earning assets during the six months ended June 30, 2022 compared to 29.7% during the same period in 2021. The increases during the three and six months ended June 30, 2022 were primarily related to the investment of available funds (primarily from growth in deposits) in taxable securities.

Average interest-bearing deposits (primarily amounts held in an interest-bearing account at the Federal Reserve) for the three months ended June 30, 2022 decreased $306.0 million, or 2.3%, compared to the same period in 2021 while average interest-bearing deposits (primarily amounts held in an interest-bearing account at the Federal Reserve) for the six months ended June 30, 2022 increased $1.8 billion, or 15.4%, compared to the same period in 2021. Interest-bearing deposits (primarily amounts held in an interest-bearing account at the Federal Reserve) made up approximately 27.2% of average interest-earning assets during the three months ended June 30, 2022 compared to 31.1% during the same period in 2021 while interest-bearing deposits (primarily amounts held in an interest-bearing account at the Federal Reserve) made up approximately 28.1% of average interest-earning assets during the six months ended June 30, 2022 and 2021. The average yield on interest-bearing deposits (primarily amounts held in an interest-bearing account at the Federal Reserve) was 0.80% and 0.49% during the three and six months ended June 30, 2022, respectively, compared to 0.11% and 0.10% during the same respective periods in 2021. The average yields on interest-bearing deposits during the three and six months ended June 30, 2022 were impacted by higher interest rates paid on reserves held at the Federal Reserve, compared to the same respective periods in 2021.

The average rate paid on interest-bearing liabilities was 0.26% during the three months ended June 30, 2022, increasing 16 basis points from 0.10% during the same period in 2021 while the average rate paid on interest-bearing liabilities was 0.18% during the six months ended June 30, 2022 increasing 8 basis points from 0.10% during the same period in 2021. Average deposits increased $6.5 billion, or 16.9%, during the three months ended June 30, 2022 compared to the same period in 2021 and included a $4.6 billion increase in average interest-bearing deposits and a $1.9 billion increase in average non-interest bearing deposits. Average deposits increased $7.0 billion, or 19.0%, during the six months ended June 30, 2022 compared to the same period in 2021 and included a $4.7 billion increase in average interest-bearing deposits and a $2.3 billion increase in average non-interest bearing deposits. The ratio of average interest-bearing deposits to total average deposits was 59.0% and 58.6% during the three and six months ended June 30, 2022 compared to 57.0% and 56.9% during the same respective periods in 2021. The average cost of deposits is primarily impacted by changes in market interest rates as well as changes in the volume and relative mix of interest-bearing deposits. The average cost of interest-bearing deposits and total deposits was 0.22% and 0.13%, respectively, during the three months ended June 30, 2022 compared to 0.06% and 0.04%, respectively, during the same period in 2021. The average cost of interest-bearing deposits and total deposits was 0.15% and 0.09%, respectively, during the six months ended June 30, 2022 compared to 0.07% and 0.04%, respectively, during the same period in 2021. The average cost of deposits during 2022 was impacted by an increase in the interest rates we pay on most of our interest-bearing deposit products as a result of the aforementioned increase in market interest rates.

Our net interest spread, which represents the difference between the average rate earned on earning assets and the average rate paid on interest-bearing liabilities, was 2.45% and 2.38% during the three and six months ended June 30, 2022 compared to 2.61% and 2.64% during the same respective periods in 2021. The net interest spread, as well as the net interest margin, will be impacted by future changes in short-term and long-term interest rate levels, as well as the impact from the competitive environment. A discussion of the effects of changing interest rates on net interest income is set forth in Item 3. Quantitative and Qualitative Disclosures About Market Risk included elsewhere in this report.

Our hedging policies permit the use of various derivative financial instruments, including interest rate swaps, swaptions, caps and floors, to manage exposure to changes in interest rates. Details of our derivatives and hedging activities are set forth in Note 8 - Derivative Financial Instruments in the accompanying notes to consolidated financial statements included elsewhere in this report. Information regarding the impact of fluctuations in interest rates on our derivative financial instruments is set forth in Item 3. Quantitative and Qualitative Disclosures About Market Risk included elsewhere in this report.

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Credit Loss Expense

Credit loss expense is determined by management as the amount to be added to the allowance for credit loss accounts for various types of financial instruments including loans, securities and off-balance-sheet credit exposures after net charge-offs have been deducted to bring the allowances to a level which, in management’s best estimate, is necessary to absorb expected credit losses over the lives of the respective financial instruments. The components of credit loss expense were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Credit loss expense (benefit) related to:
Loans	$	(4,396)	$	(4,379)	$	68	$	(4,379)
Off-balance-sheet credit exposures	4,396		4,379		(68)		4,444
Securities held to maturity	—		—		—		(2)
Total	$	—	$	—	$	—	$	63

See the section captioned “Allowance for Credit Losses” elsewhere in this discussion for further analysis of credit loss expense related to loans and off-balance-sheet credit exposures.

Non-Interest Income

Total non-interest income for the three and six months ended June 30, 2022 increased $6.7 million, or 7.3%, and increased $14.8 million, or 8.0%, respectively, compared to the same periods in 2021. Changes in the various components of non-interest income are discussed in more detail below.

Trust and Investment Management Fees. Trust and investment management fees for the three and six months ended June 30, 2022 decreased $98 thousand, or 0.3%, and increased $3.2 million, or 4.4%, respectively, compared to the same periods in 2021. Investment management fees are the most significant component of trust and investment management fees, making up approximately 79.6% and 81.8% of total trust and investment management fees for the first six months of 2022 and 2021, respectively. The decrease in trust and investment management fees during the three months ended June 30, 2022 was primarily due to decreases in estate fees (down $968 thousand) and investment management fees (down $863 thousand), among other things, mostly offset by an increase in oil and gas fees (up $1.8 million).

The increase in trust and investment management fees during the six months ended June 30, 2022 was primarily due to increases in oil and gas fees (up $2.6 million), investment management fees (up $966 thousand) and real estate fees (up $580 thousand) partly offset by a decrease in estate fees (down $888 thousand). Investment management fees are generally based on the market value of assets within an account and are thus impacted by volatility in the equity and bond markets. The increase in investment management fees during six months ended June 30, 2022 was primarily related to higher average equity valuations as well as an increase in the number of accounts. The decrease in investment management fees during three months ended June 30, 2022 was primarily related to the sharp decline in equity valuations during the second quarter of 2022. Oil and gas fees during the three and six months ended June 30, 2022 were impacted by increases in oil and gas prices. The fluctuations in estate fees and real estate fees during the comparable periods were primarily related to variations in transaction volumes.

At June 30, 2022, trust assets, including both managed assets and custody assets, were primarily composed of equity securities (43.0% of assets), fixed income securities (33.1% of assets), alternative investments (7.5% of assets) and cash equivalents (9.9% of assets). The estimated fair value of these assets was $40.1 billion (including managed assets of $19.4 billion and custody assets of $20.6 billion) at June 30, 2022, compared to $43.3 billion (including managed assets of $19.1 billion and custody assets of $24.2 billion) at December 31, 2021 and $42.3 billion (including managed assets of $18.1 billion and custody assets of $24.2 billion) at June 30, 2021.

Service Charges on Deposit Accounts. Service charges on deposit accounts for the three and six months ended June 30, 2022 increased $4.0 million, or 20.3%, and increased $6.8 million, or 17.0%, respectively, compared to the same periods in 2021. The increase during the three months ended June 30, 2022 was primarily related to increases in overdraft charges on consumer and commercial accounts (up $2.1 million and $624 thousand, respectively) and commercial service charges (up $1.1 million). The increase during the six months ended June 30, 2022 was primarily related to increases in overdraft charges on consumer and commercial accounts (up $2.7 million and $1.1 million, respectively) and commercial service charges (up $2.5 million).

Commercial service charges during the three and six months ended June 30, 2022 were primarily impacted by increases in the volumes of billable services compared to the same periods in 2021. Overdraft charges totaled $9.6 million ($7.4 million consumer and $2.1 million commercial) during the three months ended June 30, 2022 compared to $6.9 million ($5.3 million consumer and $1.5 million commercial) during the same period in 2021. Overdraft charges totaled $18.2 million ($14.1 million

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consumer and $4.1 million commercial) during the six months ended June 30, 2022 compared to $14.4 million ($11.4 million consumer and $3.0 million commercial) during the same period in 2021. The increases in overdraft charges during the three and six months ended June 30, 2022 were impacted by increases in the volumes of fee assessed overdrafts relative to the same periods in 2021.

In June 2022, we expanded the overdraft grace feature first implemented in April 2021. This feature, which was previously only available to certain consumer demand deposit accounts, is now available to all of our consumer demand deposit accounts, regardless of direct deposit status. With this feature no fees will be assessed on overdrafts of $100 or less. Additionally, we also eliminated fees on non-sufficient and returned items for all consumer deposit accounts. We expect these changes will impact revenue by as much as $3.5 million on an annual basis.

Insurance Commissions and Fees. Insurance commissions and fees for the three and six months ended June 30, 2022 increased $1.0 million, or 9.3%, and increased $298 thousand, or 1.1%, respectively, compared to the same periods in 2021. The increase during the three months ended June 30, 2022 was the result of increases in commission income (up $774 thousand) and contingent income (up $229 thousand). The increase during the six months ended June 30, 2022 was the result of an increase in commission income (up $1.3 million) mostly offset by a decrease in contingent income (down $1.0 million).

Contingent income totaled $578 thousand and $3.0 million during the three and six months ended June 30, 2022, respectively, compared to $349 thousand and $4.0 million during the same periods in 2021. Contingent income primarily consists of amounts received from various property and casualty insurance carriers related to portfolio growth and the loss performance of insurance policies previously placed. These performance related contingent payments are seasonal in nature and are mostly received during the first quarter of each year. This performance related contingent income totaled $1.8 million and $3.1 million during the six months ended June 30, 2022 and 2021, respectively. The decrease in performance related contingent income during 2022 was related to low growth within the portfolio and a deterioration in the loss performance of insurance policies previously placed. This deterioration was impacted by a severe weather event in Texas during the first quarter of 2021 that resulted in a significant increase in property and casualty claims and losses. Contingent income also includes amounts received from various benefit plan insurance companies related to the volume of business generated and/or the subsequent retention of such business. This benefit plan related contingent income totaled $385 thousand and $1.2 million during the three and six months ended June 30, 2022, respectively, compared to $274 thousand and $899 thousand during the same respective periods in 2021. The increases in commission income during the three and six months ended June 30, 2022 were primarily related to increases in commercial and personal lines property and casualty commissions and benefit plan commissions partly offset by decreases in life insurance commissions. The increases in commercial and personal lines property and casualty commissions and benefit plan commissions during the three and six months ended June 30, 2022 were related to increased business volumes and increased market rates while the decreases in life insurance commissions were related to decreased business volumes.

Interchange and Card Transaction Fees. Interchange fees, or “swipe” fees, are charges that merchants pay to us and other card-issuing banks for processing electronic payment transactions. Interchange and card transaction fees consist of income from debit and credit card usage, point of sale income from PIN-based card transactions and ATM service fees. Interchange and card transaction fees are reported net of related network costs.

Net interchange and card transaction fees for the three and six months ended June 30, 2022 increased $270 thousand, or 5.8%, and increased $403 thousand, or 4.6%, respectively, compared to the same periods in 2021 primarily due to increases in transaction volumes as well as the impact of new card products partly offset by an increase in network costs. A comparison of gross and net interchange and card transaction fees for the reported periods is presented in the table below.

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Income from card transactions	$	8,308	$	7,553	$	15,789	$	13,945
ATM service fees	867		866		1,631		1,651
Gross interchange and card transaction fees	9,175		8,419		17,420		15,596
Network costs	4,264		3,778		8,283		6,862
Net interchange and card transaction fees	$	4,911	$	4,641	$	9,137	$	8,734

Federal Reserve rules applicable to financial institutions that have assets of $10 billion or more provide that the maximum permissible interchange fee for an electronic debit transaction is the sum of 21 cents per transaction and 5 basis points multiplied by the value of the transaction. An upward adjustment of no more than 1 cent to an issuer's debit card interchange fee is allowed if the card issuer develops and implements policies and procedures reasonably designed to achieve certain fraud-

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prevention standards. The Federal Reserve also has rules governing routing and exclusivity that require issuers to offer two unaffiliated networks for routing transactions on each debit or prepaid product.

Other Charges, Commissions and Fees. Other charges, commissions and fees for the three months ended June 30, 2022 increased $1.2 million, or 14.4%, compared to the same period in 2021. The increase was primarily related to increases in income from the placement of money market accounts (up $1.1 million) and merchant services rebates/bonuses (up $472 thousand), among other things, partly offset by a decrease in income from the sale of mutual funds (down $448 thousand), among other things. Other charges, commissions and fees for the six months ended June 30, 2022 increased $2.6 million, or 15.2%, compared to the same period in 2021. The increase was primarily related to increases in income from the placement of money market accounts (up $944 thousand), merchant services rebates/bonuses (up $898 thousand), letter of credit fees (up $463 thousand) and funds transfer service charges (up $295 thousand), among other things.

Other Non-Interest Income. Other non-interest income for the three months ended June 30, 2022 increased $237 thousand, or 2.5%, compared to the same period in 2021.The increase was primarily related to increases in sundry and other miscellaneous income (up $1.2 million), income from customer derivative and securities trading transactions (up $742 thousand) and income from customer foreign exchange transactions (up $547 thousand), among other things, partly offset by decreases in gains on the sale assets (down $1.8 million) and mineral interest income (down $289 thousand), among other things. Sundry income during the three months ended June 30, 2022 included $1.0 million in card related incentives/rebates and $489 thousand related to the recovery of prior write-offs. The increases in income from customer derivative and securities trading transactions and customer foreign exchange transactions were primarily related to increases in transaction volumes. Gains on the sale of assets during the second quarter of 2021 included $1.8 million related to the sale of certain parking lots in downtown San Antonio. The decrease in mineral interest income was related to the donation of certain mineral interests in 2021.

Other non-interest income for the six months ended June 30, 2022 increased $1.6 million, or 8.8%, compared to the same period in 2021. The increase was primarily related to increases in sundry and other miscellaneous income (up $2.3 million), public finance underwriting fees (up $1.6 million) and income from customer foreign exchange transactions (up $926 thousand) partly offset by decreases in gains on the sale of foreclosed and other assets (down $1.8 million), mineral interest income (down $497 thousand) and income from customer derivative and securities trading transactions (down $435 thousand), among other things. Sundry income during the six months ended June 30, 2022 included $1.0 million related to the recovery of prior write-offs, $1.0 million in card related incentives/rebates and $458 thousand related to a contract fee. The increases in public finance underwriting fees and income from customer foreign exchange transactions were primarily related to increases in transaction volumes. The decrease in gains on the sale of assets was primarily related to the aforementioned sale of certain parking lots in downtown San Antonio during the second quarter of 2021. The decrease in mineral interest income was related to the donation of certain mineral interests in 2021. The decrease in income from customer derivative transactions was primarily due to a decrease in transaction volume.

Non-Interest Expense

Total non-interest expense for the three and six months ended June 30, 2022 increased $31.1 million, or 14.4%, and increased $59.7 million, or 14.0%, respectively, compared to the same periods in 2021. Changes in the various components of non-interest expense are discussed below.

Salaries and Wages. Salaries and wages for the three and six months ended June 30, 2022 increased $19.8 million, or 20.5%, and increased $37.7 million, or 19.8%, respectively, compared to the same periods in 2021. The increases in salaries and wages were primarily related to increases in salaries, due to annual merit and market increases as well as the implementation of a $20 per hour minimum wage in December, 2021. Salaries and wages was also impacted by increases in the number of employees, increases in incentive compensation and, primarily during the six months ended June 30, 2022, a decrease in salary costs deferred in connection with loan originations as the first quarter of 2021 was impacted by the high volume of PPP loan originations. We are experiencing an increasingly competitive labor market which has resulted in and could continue to result in an increase in our staffing costs.

Employee Benefits. Employee benefits expense for the three and six months ended June 30, 2022 increased $2.0 million, or 10.7%, and increased $3.7 million, or 8.9%, respectively, compared to the same periods in 2021. The increases were primarily related to increases in payroll taxes, 401(k) plan expense and medical benefits expense, among other things, partly offset by increases in the net periodic benefits related to our defined benefit retirement plan.

Our defined benefit retirement and restoration plans were frozen in 2001 which has helped to reduce the volatility in retirement plan expense. We nonetheless still have funding obligations related to these plans and could recognize expense related to these plans in future years, which would be dependent on the return earned on plan assets, the level of interest rates

48

and employee turnover. See Note 12 - Defined Benefit Plans for additional information related to our net periodic pension benefit/cost.

Net Occupancy. Net occupancy expense for the three and six months ended June 30, 2022 increased $1.7 million, or 6.5%, and increased $3.1 million, or 5.9%, respectively, compared to the same periods in 2021. The increases during the three and six months ended June 30, 2022 were primarily related to increases in repairs and maintenance/service contracts expense (up $1.0 million and $1.8 million, respectively), depreciation on buildings and leasehold improvements (together up $308 thousand and $663 thousand, respectively) and lease expense (up $433 thousand and $528 thousand, respectively), among other things. The increases in the aforementioned components of net occupancy expense were impacted, in part, by our expansion within the Houston and Dallas market areas.

Technology, Furniture and Equipment. Technology, furniture and equipment expense for the three and six months ended June 30, 2022 increased $1.9 million, or 6.9%, and increased $3.1 million, or 5.5%, respectively, compared to the same periods in 2021. The increases during the three and six months ended June 30, 2022 were primarily related to increases in cloud services expense (up $1.1 million and $1.9 million, respectively), depreciation of furniture and equipment (up $348 thousand and $863 thousand, respectively) and service contracts expense (up $466 thousand and $583 thousand, respectively), among other things, partly offset by decreases in software maintenance (down $199 thousand and $557 thousand, respectively).

Deposit Insurance. Deposit insurance expense totaled $3.7 million and $7.4 million for the three and six months ended June 30, 2022, respectively, compared to $2.9 million and $5.8 million for the three and six months ended June 30, 2021. The increases were primarily related to an increase in total assets partly offset by a decrease in the assessment rate. In June 2022, the Federal Deposit Insurance Corporation issued a notice of proposed rulemaking, applicable to all insured depository institutions, to increase the initial base deposit insurance assessment rates by 2 basis points, beginning with the first quarterly assessment period of 2023.

Other Non-Interest Expense. Other non-interest expense for the three and six months ended June 30, 2022 increased $4.8 million, or 11.5%, and increased $10.7 million, or 13.6%, respectively, compared to the same periods in 2021. The increase during the three months ended June 30, 2022 included increases in travel, meals and entertainment (up $1.7 million); professional services expense (up $1.2 million); sundry and other miscellaneous expenses (up $1.1 million); and advertising/promotions expense (up $661 thousand). Sundry and other miscellaneous expenses during the three months ended June 30, 2022 included $446 thousand related to the write-off of certain assets and $387 thousand related to settlements. The impact of the aforementioned items was partly offset by decreases in donations expense (down $1.8 million), which was impacted by a $1.8 million contribution to the Frost Charitable Foundation in the second quarter of 2021, among other things. The increase during the six months ended June 30, 2022 included increases in professional services expense (up $3.0 million); travel, meals and entertainment (up $3.0 million); advertising/promotions expense (up $2.8 million); and business development expense (up $889 thousand); among other things. Other non-interest expense during the six months ended June 30, 2022 was also impacted by a decrease in costs deferred as loan origination costs (down $1.2 million) as the first quarter of 2021 was impacted by a large volume of PPP loan originations. The impact of the aforementioned items was partly offset by decreases in donations expense (down $3.2 million), which was impacted by $3.3 million in contributions to the Frost Charitable Foundation in the first six months of 2021; and amortization of deferred costs associated with loan commitments (down $663 thousand), among other things.

Results of Segment Operations

We are managed under a matrix organizational structure whereby our two primary operating segments, Banking and Frost Wealth Advisors, overlap a regional reporting structure. A third operating segment, Non-Banks, is for the most part the parent holding company, as well as certain other insignificant non-bank subsidiaries of the parent that, for the most part, have little or no activity. A description of each segment, the methodologies used to measure segment financial performance and summarized operating results by segment are described in Note 15 - Operating Segments in the accompanying notes to consolidated financial statements included elsewhere in this report. Segment operating results are discussed in more detail below.

Banking

Net income for the three and six months ended June 30, 2022 increased $3.0 million, or 2.7%, and decreased $15.3 million, or 6.9%, respectively, compared to the same periods in 2021. The increase during the three months ended June 30, 2022 was primarily the result of a $30.7 million increase in net interest income and a $6.5 million increase in non-interest income partly offset by a $27.9 million increase in non-interest expense and a $6.2 million increase in income tax expense. The decrease during the six months ended June 30, 2022 was primarily the result of a $55.3 million increase in non-interest expense and a $10.1 million increase in income tax expense partly offset by a $38.7 million increase in net interest income and an $11.4 million increase in non-interest income.

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Net interest income for the three and six months ended June 30, 2022 increased $30.7 million, or 11.9%, and $38.7 million, or 7.7%, respectively, compared to the same periods in 2021. The increase during the three months ended June 30, 2022 was primarily related to an increase in the average volume of taxable securities, an increase in the average yield on interest-bearing deposits (primarily amounts held in an interest-bearing account at the Federal Reserve) and, to a much lesser extent, an increase in the average volume of tax-exempt securities. The impact of these items was partly offset by a decrease in the average volume of loans combined with decreases in the average yields on loans and tax-exempt securities and increases in the average cost and average volume of interest-bearing deposit accounts (primarily money market deposit accounts) and an increase in the average cost of repurchase agreements. The increase during the six months ended June 30, 2022 was primarily related to an increase in the average volume of taxable securities and an increase in the average yield on interest-bearing deposits (primarily amounts held in an interest-bearing account at the Federal Reserve) and, to a much lesser extent, increases in the average volumes of tax-exempt securities and interest-bearing deposits (primarily amounts held in an interest-bearing account at the Federal Reserve). The impact of these items was partly offset by a decrease in the average volume of loans combined with decreases in the average yields on loans, tax-exempt securities and taxable securities; an increase in the average cost and average volume of interest-bearing deposits (primarily money market deposit accounts); and an increase in the average cost of repurchase agreements. See the analysis of net interest income included in the section captioned “Net Interest Income” included elsewhere in this discussion.

Credit loss expense/benefit was not significant for the Banking segment during the reported periods. See the sections captioned “Credit Loss Expense” and “Allowance for Credit Losses” elsewhere in this discussion for further analysis of credit loss expense related to loans and off-balance-sheet commitments.

Non-interest income for the three months ended June 30, 2022 increased $6.5 million, or 13.2%, compared to the same period in 2021, while non-interest income for the six months ended June 30, 2022 increased $11.4 million, or 11.1%, compared to the same period in 2021. The increase during the three months ended June 30, 2022 was primarily due to increases in service charges on deposit accounts; insurance commissions and fees; and other charges, commissions and fees. The increase during the six months ended June 30, 2022 was primarily due to increases in service charges on deposit accounts; other non-interest income; and other charges, commissions and fees. The increases in service charges on deposit accounts during the three and six months ended June 30, 2022 were primarily related to increases in overdraft charges on consumer and commercial accounts and commercial service charges. The increases in overdraft charges during the three and six months ended June 30, 2022 were impacted by increases in the volumes of fee assessed overdrafts relative to the same periods in 2021. Commercial service charges during the three and six months ended June 30, 2022 were primarily impacted by increases in the volumes of billable services compared to the same periods in 2021. The increase in insurance commissions and fees during the three months ended June 30, 2022, was the result of increases in commission income and contingent income, which is further discussed below in relation to Frost Insurance Agency. The increases in other charges, commissions and fees during the three and six months ended June 30, 2022 were primarily related to increases in merchant services rebates/bonuses, among other things, and, additionally for the six months ended June 30, 2022, increases in letter of credit fees and funds transfer service charges. The increase in other non-interest income during the six months ended June 30, 2022 was primarily due to an increase in sundry and other miscellaneous income, which was impacted by certain card related incentives/rebates, the recovery of prior write-offs, and the recognition of a contract fee. Other non-interest income during the six months ended June 30, 2022 was also impacted by increases in public finance underwriting fees and income from customer foreign exchange transactions, due to increases in transaction volumes. These items were partly offset by decreases in gains on the sale of foreclosed and other assets and income from customer derivative and securities trading transactions, among other things. See the analysis of these categories of non-interest income included in the section captioned “Non-Interest Income” included elsewhere in this discussion.

Non-interest expense for three months ended June 30, 2022 increased $27.9 million, or 15.3%, while non-interest expense for the six months ended June 30, 2022 increased $55.3 million, or 15.3%, compared to the same respective periods in 2021. The increases during the three and six months ended June 30, 2022 were primarily due to increases in salaries and wages and other non-interest expense and, to a lesser extent, increases in employee benefit expense; technology, furniture and equipment expense and net occupancy expense.

The increases in salaries and wages during the three and six months ended June 30, 2022, were primarily related to increases in salaries, due to annual merit and market increases as well as the implementation of a $20 per hour minimum wage in December, 2021. Salaries and wages was also impacted by increases in the number of employees, increases in incentive compensation and, primarily during the six months ended June 30, 2022, a decrease in salary costs deferred in connection with loan originations as the first quarter of 2021 was impacted by the high volume of PPP loan originations. The increase in other non-interest expense during the three months ended June 30, 2022 was primarily related to increases in travel, meals and entertainment; professional services expense; sundry and other miscellaneous expenses; and advertising/promotions expense. Sundry and other miscellaneous expenses during the three months ended June 30, 2022 was impacted by the write-off of certain assets and certain settlements. The impact of the aforementioned items was partly offset by a decrease in donations expense, which was impacted by a $1.8 million contribution to the Frost Charitable Foundation in the second quarter of 2021, among other things. The

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increase in other non-interest expense during the six months ended June 30, 2022 was primarily related to increases in professional services expense; travel, meals and entertainment; advertising/promotions expense; and business development expense; among other things. Other non-interest expense during the six months ended June 30, 2022 was also impacted by a decrease in costs deferred as loan origination costs as the first quarter of 2021 was impacted by a large volume of PPP loan originations. The increases in employee benefits expense during the three and six months ended June 30, 2022 were primarily related to increases in payroll taxes, 401(k) plan expense and medical benefits expense, among other things, partly offset by increases in the net periodic benefits related to our defined benefit retirement plan. The increases in technology, furniture and equipment expense during the three and six months ended June 30, 2022 were primarily related to increases in cloud services expense, depreciation of furniture and equipment and service contracts expense, among other things, partly offset by decreases in software maintenance. The increases in net occupancy during the three and six months ended June 30, 2022 were primarily related to increases in repairs and maintenance/service contracts expense, depreciation on buildings and leasehold improvements and lease expense, among other things. The increases in the aforementioned components of net occupancy expense were impacted, in part, by our expansion within the Houston and Dallas market areas.

Frost Insurance Agency, which is included in the Banking operating segment, had gross commission revenues of $11.8 million and $28.5 million during the three and six months ended June 30, 2022, respectively, compared to $10.8 million and $28.2 million during the same respective periods in 2021. The increase during the three months ended June 30, 2022 was primarily related to increases in commission income and contingent income while the increase during the six months ended June 30, 2022 was primarily related an increase in commission income mostly offset by a decrease in contingent income. The increases in gross commission income during the three and six months ended June 30, 2022 were primarily related to increases in commercial and personal lines property and casualty commissions and benefit plan commissions, due to increases in business volumes and market rates, partly offset by decreases in life insurance commissions, due to decreased business volumes. The decrease in contingent income during the six months ended June 30, 2022 was primarily related to a decrease in performance related contingent payments due to low growth within the portfolio and a deterioration in the loss performance of insurance policies previously placed. The decrease in performance related contingent commissions during was partly offset by an increase in contingent commissions received from various benefit plan insurance companies. See the analysis of insurance commissions and fees included in the section captioned “Non-Interest Income” included elsewhere in this discussion.

Frost Wealth Advisors

Net income for the three and six months ended June 30, 2022 decreased $1.7 million, or 16.7%, and increased $543 thousand, or 3.0%, respectively, compared to the same periods in 2021. The decrease during the three months ended June 30, 2022 was primarily the result of a $3.1 million increase in non-interest expense partly offset by a $520 thousand increase in non-interest income, a $457 thousand decrease in income tax expense and a $450 thousand increase in net interest income. The increase during the six months June 30, 2022 ended was primarily the result of a $4.1 million increase in non-interest income and a $664 thousand increase in net interest income partly offset by a $4.1 million increase in non-interest expense.

Net interest income for the three and six months ended June 30, 2022 increased $450 thousand, or 88.6%, and increased $664 thousand, or 66.8%, respectively, compared to the same periods in 2021. The increases during the three and six months ended June 30, 2022 were primarily due to an increases in the average volume of funds provided by Frost Wealth Advisors and an increase in the average funds transfer prices allocated to such funds. See the analysis of net interest income included in the section captioned “Net Interest Income” included elsewhere in this discussion.

Non-interest income for the three and six months ended June 30, 2022 increased $520 thousand, or 1.2%, and increased $4.1 million, or 5.0%, respectively, compared to the same periods in 2021. The increase during the three months ended June 30, 2022 was primarily due to a increases in other charges, commissions and fees and other non-interest income partly offset by a decrease in trust and investment management fees. The increase during the six months ended June 30, 2022 was primarily due to increases in trust and investment management fees and other charges, commissions and fees. Trust and investment management fee income is the most significant income component for Frost Wealth Advisors. Investment management fees are the most significant component of trust and investment management fees, making up approximately 79.6% of total trust and investment management fees for the first six months of 2022.

The decrease in trust and investment management fees during the three months ended June 30, 2022 was primarily due to decreases in estate fees and investment management fees, among other things, mostly offset by an increase in oil and gas fees. The increase in trust and investment management fees during the six months ended June 30, 2022 was primarily due to increases in oil and gas fees, investment management fees and real estate fees partly offset by a decrease in estate fees. The increase in investment management fees during six months ended June 30, 2022 was primarily related to higher average equity valuations as well as an increase in the number of accounts. The decrease in investment management fees during three months ended June 30, 2022 was primarily related to the sharp decline in equity valuations during the second quarter of 2022. Oil and gas fees during the three and six months ended June 30, 2022 were impacted by increases in oil and gas prices. The fluctuations

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in estate fees and real estate fees during the comparable periods were primarily related to variations in transaction volumes. The increases in other charges, commissions and fees during the three and six months ended June 30, 2022 were primarily related to increases in income from the placement of money market accounts, among other things, partly offset by decreases in income from the sale of mutual funds, among other things. The increase in other non-interest income during the three months ended June 30, 2022 was primarily related to an increase in income from customer securities trading transactions. See the analysis of trust and investment management fees and other charges, commissions and fees included in the section captioned “Non-Interest Income” included elsewhere in this discussion.

Non-interest expense for the three and six months ended June 30, 2022 increased $3.1 million, or 10.5%, and increased $4.1 million, or 6.9%, respectively, compared to the same periods in 2021. The increases during the three and six months ended June 30, 2022 were primarily due to increases in salaries and wages and other non-interest expense, and to a lesser extent, increases in employee benefits expense and technology, furniture and equipment expense. The increases in salaries and wages during the three and six months ended June 30, 2022 were primarily due to increases in incentive compensation and commission expense as well as increases in salaries due to annual merit and market increases. The increases in other non-interest expense during the three and six months ended June 30, 2022 were mostly related to increases in sundry and other miscellaneous expenses, which was primarily related to the write-off of certain assets; and travel, meals and entertainment; among other things. Other non-interest expense for the six months ended June 30, 2022 was also impacted by an increase in research and platform fees. These increases were partly offset by decreases in the corporate overhead expense allocation during the three and six months ended June 30, 2022 compared to the same periods in 2021. The increases in employee benefits during the three and six months ended June 30, 2022 were primarily related to increases in 401(k) plan expense and medical benefits expense. Employee benefits during the six months ended June 30, 2022 was also impacted by an increase in payroll taxes. The increases in technology, furniture and equipment expense during the three and six months ended June 30, 2022 were primarily related to increases in cloud services expenses.

Non-Banks

The Non-Banks operating segment had net losses of $3.2 million and $5.6 million during the three and six months ended June 30, 2022, respectively, compared to net losses of $2.9 million and $4.5 million during the same periods in 2021. The increase in the net loss during the three months ended June 30, 2022 was primarily due to a decrease in other non-interest income and an increase in net interest expense partly offset by an increase in net income tax benefit. The increase in the net loss during the six months ended June 30, 2022 was primarily due to a decrease in other non-interest income, an increase in non-interest expense, a decrease in net income tax benefit and an increase in net interest expense. The decreases in other non-interest income during the three and six months ended June 30, 2022 were primarily due to decreases in mineral interest income as the related mineral interest assets were donated to the Frost Charitable Foundation during the third quarter of 2021. The net income tax benefit during the six months ended June 30, 2022 was impacted by the aforementioned donation due to the elimination of certain related tax deductions. The increase in other non-interest expense during the six months ended June 30, 2022 was primarily due to increases in travel, meals and entertainment and professional service expense. The increases in net interest expense during the three and six months ended June 30, 2022 were primarily related to increases in the average rate paid on our long term borrowings partly offset by the impact of the redemption, during the fourth quarter of 2021, of $13.4 million of junior subordinated deferrable interest debentures issued to WNB Capital Trust I.

Income Taxes

During the three months ended June 30, 2022, we recognized income tax expense of $20.7 million, for an effective tax rate of 14.8%, compared to $15.1 million, for an effective tax rate of 11.3%, for the same period in 2021. During the six months ended June 30, 2022, we recognized income tax expense of $33.3 million, for an effective tax rate of 13.2%, compared to $23.0 million, for an effective tax rate of 8.9%, for the same period in 2021. The effective income tax rates differed from the U.S. statutory federal income tax rate of 21% during 2022 and 2021 primarily due to the effect of tax-exempt income from loans, securities and life insurance policies and the income tax effects associated with stock-based compensation, among other things, and their relative proportion to total pre-tax net income. The increase in the effective tax rates during 2022 were primarily related to increases in projected pre-tax net income and, to a lesser extent, a decrease in discrete tax benefits associated with stock-based compensation.

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Average Balance Sheet

Average assets totaled $50.7 billion for the six months ended June 30, 2022 representing an increase of $6.6 billion, or 15.0%, compared to average assets for the same period in 2021. Earning assets increased $6.2 billion, or 15.1%, during the first six months of 2022 compared to the same period in 2021. The increase in earning assets was primarily related to a $5.6 billion increase in average taxable securities and a $1.8 billion increase in average interest-bearing deposits (primarily amounts held in an interest-bearing account at the Federal Reserve) partly offset by a $932.7 million decrease in average loans. Average deposits increased $7.0 billion, or 19.0%, during the first six months of 2022 compared to the same period in 2021. Growth in average deposits was related to increased customer balances as well as new customer accounts. The increase included a $2.3 billion increase in non-interest bearing deposits and a $4.7 billion increase in interest-bearing deposit accounts. Average non-interest bearing deposits made up 41.4% and 43.1% of average total deposits during the first six months of 2022 and 2021, respectively.

Loans

Details of our loan portfolio are presented in Note 3 - Loans in the accompanying notes to consolidated financial statements included elsewhere in this report. Loans increased $399.6 million, or 2.4%, from $16.3 billion at December 31, 2021 to $16.7 billion at June 30, 2022. As further discussed below, during the second quarter of 2020, we began originating loans to qualified small businesses under the Paycheck Protection Program (“PPP”) administered by the SBA under the provisions of the CARES Act. Excluding PPP loans, total loans would have otherwise increased $736.6 million, or 4.6%, from $15.9 billion at December 31, 2021 to $16.6 billion at June 30, 2022. The majority of our loan portfolio is comprised of commercial and industrial loans, energy loans, and real estate loans. Real estate loans include both commercial and consumer balances. Selected details related to our loan portfolio segments are presented below. Refer to our 2021 Form 10-K for a more detailed discussion of our loan origination and risk management processes.

Commercial and Industrial. Commercial and industrial loans increased $174.3 million, or 3.2%, from $5.4 billion at December 31, 2021 to $5.5 billion at June 30, 2022. Our commercial and industrial loans are a diverse group of loans to small, medium and large businesses. The purpose of these loans varies from supporting seasonal working capital needs to term financing of equipment. While some short-term loans may be made on an unsecured basis, most are secured by the assets being financed with collateral margins that are consistent with our loan policy guidelines. The commercial and industrial loan portfolio also includes commercial leases and purchased shared national credits ("SNC"s).

Energy. Energy loans include loans to entities and individuals that are engaged in various energy-related activities including (i) the development and production of oil or natural gas, (ii) providing oil and gas field servicing, (iii) providing energy-related transportation services, (iv) providing equipment to support oil and gas drilling, (v) refining petrochemicals, or (vi) trading oil, gas and related commodities. Energy loans decreased $89.9 million, or 8.3%, from $1.1 billion at December 31, 2021 to $987.9 million at June 30, 2022. We have recently made efforts to reduce our exposure to energy loans. Nonetheless energy loans remain our largest industry concentration totaling 5.9% of total loans (also 5.9% excluding PPP loans) at June 30, 2022, down from 6.6% of total loans (6.8% excluding PPP loans) at December 31, 2021. The average loan size, the significance of the portfolio and the specialized nature of the energy industry requires a highly prescriptive underwriting policy. Exceptions to this policy are rarely granted. Due to the large borrowing requirements of this customer base, the energy loan portfolio includes participations and SNCs.

Purchased Shared National Credits. Purchased shared national credits are participations purchased from upstream financial organizations and tend to be larger in size than our originated portfolio. Our purchased SNC portfolio totaled $707.8 million at June 30, 2022, increasing $9.5 million, or 1.4%, from $698.4 million at December 31, 2021. At June 30, 2022, 30.1% of outstanding purchased SNCs were related to the construction industry while 25.8% were related to the energy industry, 13.7% were related to the financial services industry and 12.1% were related to the real estate management industry. The remaining purchased SNCs were diversified throughout various other industries, with no other single industry exceeding 10% of the total purchased SNC portfolio. Additionally, almost all of the outstanding balance of purchased SNCs was included in the energy and commercial and industrial portfolio, with the remainder included in the real estate categories. SNC participations are originated in the normal course of business to meet the needs of our customers. As a matter of policy, we generally only participate in SNCs for companies headquartered in or which have significant operations within our market areas. In addition, we must have direct access to the company’s management, an existing banking relationship or the expectation of broadening the relationship with other banking products and services within the following 12 to 24 months. SNCs are reviewed at least quarterly for credit quality and business development successes.

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Commercial Real Estate. Commercial real estate loans increased $479.5 million, or 6.3%, from $7.6 billion at December 31, 2021 to $8.1 billion at June 30, 2022. Commercial real estate loans represented 83.8% of total real estate loans at June 30, 2022 compared to 84.3% at December 31, 2021. The majority of our commercial real estate loan portfolio consists of commercial real estate mortgages, which includes both permanent and intermediate term loans. These loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Consequently, these loans must undergo the analysis and underwriting process of a commercial and industrial loan, as well as that of a real estate loan. At June 30, 2022, approximately 48.8% of the outstanding principal balance of our commercial real estate loans were secured by owner-occupied properties.

Consumer Real Estate and Other Consumer Loans. The consumer loan portfolio, including all consumer real estate and consumer installment loans, increased $150.2 million, or 10.6%, from $1.9 billion at December 31, 2021 to $2.1 billion at June 30, 2022. Combined, home equity loans and lines of credit made up 61.3% and 59.8% of the consumer real estate loan total at June 30, 2022 and December 31, 2021, respectively. We offer home equity loans up to 80% of the estimated value of the personal residence of the borrower, less the value of existing mortgages and home improvement loans. We have not generally originated 1-4 family mortgage loans since 2000; however, from time to time, we invested in such loans to meet the needs of our customers or for other regulatory compliance purposes. Nonetheless, we expect to begin regular production of 1-4 family mortgage loans for portfolio investment purposes in late 2022. Consumer and other loans increased $22.4 million, or 4.7%, from December 31, 2021. The consumer and other loan portfolio primarily consists of automobile loans, overdrafts, unsecured revolving credit products, personal loans secured by cash and cash equivalents and other similar types of credit facilities.

Paycheck Protection Program. We have originated loans to qualified small businesses under the PPP administered by the SBA under the provisions of the CARES Act. Loans covered by the PPP may be eligible for loan forgiveness for certain costs incurred related to payroll, group health care benefit costs and qualifying mortgage, rent and utility payments. The remaining loan balance after forgiveness of any amounts is still fully guaranteed by the SBA. Refer to the 2021 Form 10-K for additional details.

During the six months ended June 30, 2022, we recognized approximately $2.6 million in PPP loan related deferred processing fees (net of amortization of related deferred origination costs) as a yield adjustment and this amount is included in interest income on loans. During the six months ended June 30, 2021, we recognized approximately $62.3 million in PPP loan related deferred net processing fees. As a result of the inclusion of these net fees in interest income, the average yields on PPP loans were 3.32% during the six months ended June 30, 2022, and 5.60% during the six months ended June 30, 2021 compared to the stated interest rate of 1.0% on these loans. PPP related deferred processing fees and deferred origination costs are not expected to significantly impact interest income on loans in future periods.

Accruing Past Due Loans. Accruing past due loans are presented in the following tables. Also see Note 3 - Loans in the accompanying notes to consolidated financial statements included elsewhere in this report.

			Accruing Loans 30-89 Days Past Due				Accruing Loans 90 or More Days Past Due				Total Accruing Past Due Loans
	Total Loans		Amount		Percent of Loans in Category		Amount		Percent of Loans in Category		Amount		Percent of Loans in Category
June 30, 2022
Commercial and industrial	$	5,539,277	$	12,369	0.22	%	$	3,280	0.06	%	$	15,649	0.28	%
Energy	987,925		200		0.02		—		—		200		0.02
Paycheck Protection Program	91,919		5,919		6.44		5,063		5.51		10,982		11.95
Commercial real estate:
Buildings, land and other	6,520,280		17,693		0.27		781		0.01		18,474		0.28
Construction	1,535,808		832		0.05		—		—		832		0.05
Consumer real estate	1,561,035		6,921		0.44		903		0.06		7,824		0.50
Consumer and other	499,782		4,443		0.89		598		0.12		5,041		1.01
Total	$	16,736,026	$	48,377	0.29		$	10,625	0.06		$	59,002	0.35
Excluding PPP loans	$	16,644,107	$	42,458	0.26		$	5,562	0.03		$	48,020	0.29

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			Accruing Loans 30-89 Days Past Due				Accruing Loans 90 or More Days Past Due				Total Accruing Past Due Loans
	Total Loans		Amount		Percent of Loans in Category		Amount		Percent of Loans in Category		Amount		Percent of Loans in Category
December 31, 2021
Commercial and industrial	$	5,364,954	$	29,491	0.55	%	$	7,802	0.15	%	$	37,293	0.70	%
Energy	1,077,792		1,353		0.13		215		0.02		1,568		0.15
Paycheck Protection Program	428,882		4,979		1.16		18,766		4.38		23,745		5.54
Commercial real estate:
Buildings, land and other	6,272,339		37,033		0.59		8,687		0.14		45,720		0.73
Construction	1,304,271		188		0.01		—		—		188		0.01
Consumer real estate	1,410,790		4,866		0.34		2,177		0.15		7,043		0.49
Consumer and other	477,369		4,185		0.88		1,076		0.23		5,261		1.11
Total	$	16,336,397	$	82,095	0.50		$	38,723	0.24		$	120,818	0.74
Excluding PPP loans	$	15,907,515	$	77,116	0.48		$	19,957	0.13		$	97,073	0.61

Accruing past due loans at June 30, 2022 decreased $61.8 million compared to December 31, 2021. The decrease was primarily related to decreases in past due non-construction related commercial real estate loans (down $27.2 million), past due commercial and industrial loans (down $21.6 million) and past due PPP loans (down $12.8 million). PPP loans are fully guaranteed by the SBA and we expect to collect all amounts due related to these loans. Excluding PPP loans, accruing past due loans decreased $49.1 million.

Non-Accrual Loans. Non-accrual loans are presented in the table below. Also see in Note 3 - Loans in the accompanying notes to consolidated financial statements included elsewhere in this report.

	June 30, 2022							December 31, 2021
			Non-Accrual Loans							Non-Accrual Loans
	Total Loans		Amount			Percent of Loans in Category		Total Loans		Amount			Percent of Loans in Category
Commercial and industrial	$	5,539,277	$	11,170		0.20	%	$	5,364,954	$	22,582		0.42	%
Energy	987,925		11,114			1.12		1,077,792		14,433			1.34
Paycheck Protection Program	91,919		—			—		428,882		—			—
Commercial real estate:
Buildings, land and other	6,520,280		11,806			0.18		6,272,339		15,297			0.24
Construction	1,535,808		—			—		1,304,271		948			0.07
Consumer real estate	1,561,035		1,035			0.07		1,410,790		440			0.03
Consumer and other	499,782		—			—		477,369		13			—
Total	$	16,736,026	$	35,125		0.21		$	16,336,397	$	53,713		0.33
Excluding PPP loans	$	16,644,107	$	35,125		0.21		$	15,907,515	$	53,713		0.34
Allowance for credit losses on loans			$	239,632						$	248,666
Ratio of allowance for credit losses on loans to non-accrual loans			682.23		%					462.95		%

Non-accrual loans at June 30, 2022 decreased $18.6 million from December 31, 2021 primarily due to decreases in non-accrual commercial and industrial loans and, to a lesser extent, commercial real estate and energy loans. The decreases were primarily related to principal payments, loans returning to accrual and charge offs.

Generally, loans are placed on non-accrual status if principal or interest payments become 90 days past due and/or management deems the collectibility of the principal and/or interest to be in question, as well as when required by regulatory requirements. Once interest accruals are discontinued, accrued but uncollected interest is charged to current year operations. Subsequent receipts on non-accrual loans are recorded as a reduction of principal, and interest income is recorded only after principal recovery is reasonably assured. Classification of a loan as non-accrual does not preclude the ultimate collection of loan principal or interest. There were no non-accrual commercial and industrial loans in excess of $5.0 million at June 30, 2022 or December 31, 2021. Non-accrual energy loans included one credit relationship in excess of $5.0 million totaling $7.6 million at June 30, 2022. This credit relationship was previously reported as non-accrual with an aggregate balance of $9.6 million at

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December 31, 2021. The decrease in the aggregate balance of this credit relationship was related to principal payments made by the borrower. Non-accrual real estate loans primarily consist of land development, 1-4 family residential construction credit relationships and loans secured by office buildings and religious facilities. There were no non-accrual commercial real estate loans in excess of $5.0 million at June 30, 2022 or December 31, 2021.

Allowance for Credit Losses

In the case of loans and securities, allowances for credit losses are contra-asset valuation accounts, calculated in accordance with Accounting Standards Codification (“ASC”) Topic 326 (“ASC 326”) Financial Instruments - Credit Losses, that are deducted from the amortized cost basis of these assets to present the net amount expected to be collected. In the case of off-balance-sheet credit exposures, the allowance for credit losses is a liability account, calculated in accordance with ASC 326, reported as a component of accrued interest payable and other liabilities in our consolidated balance sheets. The amount of each allowance account represents management's best estimate of current expected credit losses (“CECL”) on these financial instruments considering available information, from internal and external sources, relevant to assessing exposure to credit loss over the contractual term of the instrument. Relevant available information includes historical credit loss experience, current conditions and reasonable and supportable forecasts. While historical credit loss experience provides the basis for the estimation of expected credit losses, adjustments to historical loss information may be made for differences in current portfolio-specific risk characteristics, environmental conditions or other relevant factors. While management utilizes its best judgment and information available, the ultimate adequacy of our allowance accounts is dependent upon a variety of factors beyond our control, including the performance of our portfolios, the economy, changes in interest rates and the view of the regulatory authorities toward classification of assets. See our 2021 Form 10-K for additional information regarding our accounting policies related to credit losses.

Allowance for Credit Losses - Loans. The table below provides, as of the dates indicated, an allocation of the allowance for loan losses by loan portfolio segment; however, allocation of a portion of the allowance to one segment does not preclude its availability to absorb losses in other segments.

	Amount of Allowance Allocated		Percent of Loans in Each Category to Total Loans		Total Loans		Ratio of Allowance Allocated to Loans in Each Category
June 30, 2022
Commercial and industrial	$	87,270	33.1	%	$	5,539,277	1.58	%
Energy	16,267		5.9		987,925		1.65
Paycheck Protection Program	—		0.5		91,919		—
Commercial real estate	117,106		48.2		8,056,088		1.45
Consumer real estate	6,854		9.3		1,561,035		0.44
Consumer and other	12,135		3.0		499,782		2.43
Total	$	239,632	100.0	%	$	16,736,026	1.43
Excluding PPP loans	$	239,632			$	16,644,107	1.44	%
December 31, 2021
Commercial and industrial	$	72,091	32.9	%	$	5,364,954	1.34	%
Energy	17,217		6.6		1,077,792		1.60
Paycheck Protection Program	—		2.6		428,882		—
Commercial real estate	144,936		46.4		7,576,610		1.91
Consumer real estate	6,585		8.6		1,410,790		0.47
Consumer and other	7,837		2.9		477,369		1.64
Total	$	248,666	100.0	%	$	16,336,397	1.52
Excluding PPP loans	$	248,666			$	15,907,515	1.56

The allowance allocated to commercial and industrial loans totaled $87.3 million, or 1.58% of total commercial and industrial loans, at June 30, 2022 increasing $15.2 million, or 21.1%, compared to $72.1 million, or 1.34% of total commercial and industrial loans, at December 31, 2021. Modeled expected credit losses increased $1.8 million while qualitative factor (“Q-Factor”) and other qualitative adjustments related to commercial and industrial loans increased $20.5 million. Specific allocations for commercial and industrial loans that were evaluated for expected credit losses on an individual basis decreased $7.2 million from $10.5 million at December 31, 2021 to $3.4 million at June 30, 2022. The decrease in specific allocations for commercial and industrial loans was related to principal payments received and the recognition of charge-offs.

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The allowance allocated to energy loans totaled $16.3 million, or 1.65% of total energy loans, at June 30, 2022 decreasing $950 thousand, or 5.5%, compared to $17.2 million, or 1.60% of total energy loans, at December 31, 2021. Modeled expected credit losses related to energy loans decreased $257 thousand while Q-Factor and other qualitative adjustments related to energy loans decreased $1.4 million. Specific allocations for energy loans that were evaluated for expected credit losses on an individual basis totaled $6.2 million at June 30, 2022 increasing $692 thousand compared to $5.5 million on December 31, 2021.

The allowance allocated to commercial real estate loans totaled $117.1 million, or 1.45% of total commercial real estate loans, at June 30, 2022 decreasing $27.8 million, or 19.2%, compared to $144.9 million, or 1.91% of total commercial real estate loans, at December 31, 2021. Modeled expected credit losses related to commercial real estate loans increased $3.4 million while Q-Factor and other qualitative adjustments related to commercial real estate loans decreased $32.3 million. Specific allocations for commercial real estate loans that were evaluated for expected credit losses on an individual basis increased from $400 thousand at December 31, 2021 to $1.5 million at June 30, 2022.

The allowance allocated to consumer real estate loans totaled $6.9 million, or 0.44% of total consumer real estate loans, at June 30, 2022 increasing $269 thousand, or 4.1%, compared to $6.6 million, or 0.47% of total consumer real estate loans, at December 31, 2021. Modeled expected credit losses related to consumer real estate loans increased $155 thousand while Q-Factor and other qualitative adjustments related to consumer real estate loans increased $68 thousand.

The allowance allocated to consumer loans totaled $12.1 million, or 2.43% of total consumer loans, at June 30, 2022 increasing $4.3 million, or 54.8%, compared to $7.8 million, or 1.64% of total consumer loans, at December 31, 2021. Modeled expected credit losses related to consumer loans increased $3.2 million, which was impacted by increasingly negative trends related to overdraft charge-offs. Q-Factor and other qualitative adjustments increased $1.1 million primarily due to an increase in the consumer overlay, which is further discussed below.

As more fully described in our 2021 Form 10-K, we measure expected credit losses over the life of each loan utilizing a combination of models which measure probability of default and loss given default, among other things. The measurement of expected credit losses is impacted by loan/borrower attributes and certain macroeconomic variables. Models are adjusted to reflect current impact of certain macroeconomic variables as well as their expected changes over a reasonable and supportable forecast period.

In estimating expected credit losses as of June 30, 2022, we utilized the Moody’s Analytics June 2022 Consensus Scenario (the “June 2022 Consensus Scenario”) to forecast the macroeconomic variables used in our models. The June 2022 Consensus Scenario was based on the review of a variety of surveys of baseline forecasts of the U.S. economy. The June 2022 Consensus Scenario projections included, among other things, (i) U.S. Nominal Gross Domestic Product annualized quarterly growth rate of 6.80% in the second half of 2022 followed by average annualized quarterly growth rates of 4.10% in 2023 and 4.30% through the end of the forecast period in the second quarter of 2024; (ii) average U.S. unemployment rate of 3.57% in the second half of 2022 and remaining fairly flat through the end of the forecast period where it is projected to be 3.58% in the second quarter of 2024; (iii) average Texas unemployment rate of 4.11% in the second half of 2022 and improving to 3.57% by the end of the forecast in the second quarter of 2024; (iv) projected average 10 year Treasury rate of 2.95% in the second half of 2022, and remaining fairly flat through the end of the forecast period in the second quarter of 2024 where it is projected to be 2.91%.

In estimating expected credit losses as of December 31, 2021, we utilized the Moody’s Analytics December 2021 Consensus Scenario (the “December 2021 Consensus Scenario”) to forecast the macroeconomic variables used in our models. The December 2021 Consensus Scenario was based on the review of a variety of surveys of baseline forecasts of the U.S. economy. The December 2021 Consensus Scenario projections included, among other things, (i) U.S. Nominal Gross Domestic Product annualized quarterly growth rate of 6.4% in the first quarter of 2022, followed by annualized quarterly growth rates in the range of 3.8% to 5.4% during the remainder of 2022 and an average annualized growth rate of 4.8% through the end of the forecast period in the fourth quarter of 2023; (ii) U.S. unemployment rate of 4.3% in the first quarter of 2022 improving to 3.7% by the end of the forecast period in the fourth quarter of 2023 with Texas unemployment rates slightly higher at those dates; and (iii) projected average 10 year Treasury rate of 1.59% in the first quarter of 2022, increasing to average projected rates of 1.75% during the remainder of 2022 and 2.10% in 2023.

The overall loan portfolio, excluding PPP loans which are fully guaranteed by the SBA, as of June 30, 2022 increased $736.6 million, or 4.6%, compared to December 31, 2021. This increase included a $479.5 million, or 6.3%, increase in commercial real estate loans, a $174.3 million, or 3.2%, increase in commercial and industrial loans, a $150.2 million, or 10.6%, increase in consumer real estate loans and a $22.4 million, or 4.7%, increase in consumer and other loans partly offset by an $89.9 million, or 8.3%, decrease in energy loans.

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The weighted average risk grade for commercial and industrial loans increased to 6.38 at June 30, 2022 compared to 6.22 at December 31, 2021. This increase was primarily due to an increase in the weighted-average risk grade of pass-grade commercial and industrial loans to 6.23 at June 30, 2022 from 6.01 at December 31, 2021. Commercial and industrial loans graded “watch” and “special mention” (risk grades 9 and 10) decreased $25.6 million during the first six months of 2022 while classified commercial and industrial loans decreased $13.0 million. Classified loans consist of loans having a risk grade of 11, 12 or 13. The weighted-average risk grade for energy loans decreased to 5.82 at June 30, 2022 from 6.06 at December 31, 2021. The decrease in the weighted average risk grade was partly related to a $23.3 million decrease in energy loans graded “watch” and “special mention” (risk grades 9 and 10). Additionally, pass grade energy loans decreased $67.2 million and the weighted-average risk grade of pass grade energy loans decreased from 5.78 at December 31, 2021 to 5.57 at June 30, 2022. The weighted average risk grade for commercial real estate loans decreased to 7.09 at June 30, 2022 from 7.19 at December 31, 2021. Pass grade commercial real estate loans increased $612.0 million while the weighted-average risk grade of such loans decreased from 6.92 at December 31, 2021 to 6.89 June 30, 2022. Commercial real estate loans graded as “watch” and “special mention” decreased $99.5 million and classified commercial real estate loans decreased $33.0 million.

As noted above, our credit loss models utilized the economic forecasts in the Moody's June 2022 Consensus Scenario for our estimated expected credit losses as of June 30, 2022 and the Moody's December 2021 Consensus Scenario for our estimate of expected credit losses as of December 31, 2021. We qualitatively adjusted the model results based on these scenarios for various risk factors that are not considered within our modeling processes but are nonetheless relevant in assessing the expected credit losses within our loan pools. These qualitative factor, or Q-Factor, adjustments are discussed below.

Q-Factor adjustments are based upon management's judgment and current assessment as to the impact of risks related to changes in lending policies and procedures; economic and business conditions; loan portfolio attributes and credit concentrations; and external factors, among other things, that are not already captured within the modeling inputs, assumptions and other processes. Management assesses the potential impact of such items within a range of severely negative impact to positive impact and adjusts the modeled expected credit loss by an aggregate adjustment percentage based upon the assessment. As a result of this assessment as of June 30, 2022, modeled expected credit losses were adjusted upwards by a weighted-average Q-Factor adjustment of approximately 2.5%, resulting in a $2.0 million total adjustment, compared to 2.3% at December 31, 2021, which resulted in a $1.8 million total adjustment. The weighted-average Q-Factor adjustment at June 30, 2022 was based on a limited negative expected impact on our commercial and industrial and commercial real estate loan portfolios related to changes in loan portfolio concentrations; a limited negative expected impact on all of our loan portfolios related to changes in the volumes and severity of loan delinquencies, changes in risk grades and adverse classifications; a limited negative expected impact on our commercial and consumer real estate portfolios related to the potential deterioration of collateral values (no expected impact related to our commercial and industrial and consumer portfolios); a negative expected impact associated with national, regional and local economic and business conditions and developments that affect the collectability of loans; a severely negative expected impact from other risk factors associated with our commercial real estate construction and land loan portfolios, particularly the risks related to expected extensions; and no impact to any of our loan portfolios related to changes lending policies procedures and underwriting standards (except for our consumer and other portfolio, which was limited negative); and loan portfolio attributes, among other things.

We have also provided additional qualitative adjustments, or management overlays, as of June 30, 2022 as management believes there are still significant risks impacting certain categories of our loan portfolio. Q-Factor and other qualitative adjustments as of June 30, 2022 are detailed in the table below.

	Q-Factor Adjustment		Model Overlays		Office Building Overlays		Down-Side Scenario Overlay		Credit Concentration Overlays		Consumer Overlay		Total
Commercial and industrial	$	975	$	—	$	—	$	28,931	$	5,228	$	—	$	35,134
Energy	123		—		—		—		3,866		—		3,989
Commercial real estate:
Owner occupied	293		28,196		—		—		1,399		—		29,888
Non-owner occupied	53		11,266		31,561		—		661		—		43,541
Construction	436		13,485		7,260		—		922		—		22,103
Consumer real estate	133		—		—		—		—		—		133
Consumer and other	26		—		—		—		—		2,500		2,526
Total	$	2,039	$	52,947	$	38,821	$	28,931	$	12,076	$	2,500	$	137,314

Model overlays are qualitative adjustments to address the effect of unusually large positive changes in certain economic variables used by our commercial real estate credit loss models. These adjustments are determined based upon minimum reserve ratios for our commercial real estate - owner occupied, commercial real estate - non-owner occupied and commercial real estate - construction loan portfolios.

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Office building overlays are qualitative adjustments to address longer-term concerns over the utilization of commercial office space which could impact the long-term performance of some types of office properties within our commercial real estate loan portfolio. These adjustments are determined based upon minimum reserve ratios for loans within our commercial real estate - non-owner occupied and commercial real estate - construction loan portfolios that have risk grades of 8 or worse.

The down-side scenario overlay is a qualitative adjustment for our commercial and industrial loan portfolio to address the significant risk of economic recession as a result of inflation; labor shortages; disruption in financial markets and global supply chains; further oil price volatility; and the current or anticipated impact of military conflict, including the current war between Russia and Ukraine, terrorism or other geopolitical events. Factors such as these are outside of our control but nonetheless affect customer income levels and could alter anticipated customer behavior, including borrowing, repayment, investment and deposit practices. To determine this qualitative adjustment, we use an alternative, more pessimistic economic scenario to forecast the macroeconomic variables used in our models. As of June 30, 2022, we used the Moody’s Analytics June 2022 S3 Alternative Scenario Downside - 90th Percentile (the “June 2022 S3 Scenario”). In modeling expected credit losses using this scenario, we also assume each loan within our modeled loan pools is downgraded by one risk grade level. The qualitative adjustment is based upon the amount by which the alternative scenario modeling results exceed those of the primary scenario used in estimating credit loss expense, adjusted based upon management's assessment of the probability that this more pessimistic economic scenario will occur.

Credit concentration overlays are qualitative adjustments based upon statistical analysis to address relationship exposure concentrations within our loan portfolio. Variations in loan portfolio concentrations over time cause expected credit losses within our existing portfolio to differ from historical loss experience. Given that the allowance for credit losses on loans reflects expected credit losses within our loan portfolio and the fact that these expected credit losses are uncertain as to nature, timing and amount, management believes that segments with higher concentration risk are more likely to experience a high loss event. Due to the fact that a significant portion of our loan portfolio is concentrated in large credit relationships and because of large, concentrated credit losses in recent years, management made the qualitative adjustments detailed in the table above to address the risk associated with such a relationship deteriorating to a loss event.

The consumer overlay is a qualitative adjustment for our consumer and other loan portfolio to address the risk associated with the level of unsecured loans within this portfolio and other risk factors. Unsecured consumer loans have an elevated risk of loss in times of economic stress as these loans lack a secondary source of repayment in the form of hard collateral. This adjustment was determined by analyzing our consumer loan charge-off trends as well as those of the general banking industry. Management deemed it appropriate to consider an additional overlay to the modeled forecasted losses for the unsecured consumer portfolio.

As of December 31, 2021, we provided qualitative adjustments, as detailed in the table below. Further information regarding these qualitative adjustments is provided in our 2021 Form 10-K.

	Q-Factor Adjustment		Model Overlays		Office Building Overlays		Small Business Overlay		COVID-19 Related Overlays		Credit Concentration Overlays		Consumer Overlay		Total
Commercial and industrial	$	939	$	—	$	—	$	3,956	$	4,715	$	4,999	$	—	$	14,609
Energy	127		—		—		—		—		5,247		—		5,374
Commercial real estate:
Owner occupied	198		31,806		—		—		7,397		1,320		—		40,721
Non-owner occupied	45		7,762		27,860		—		30,940		731		—		67,338
Construction	383		11,212		5,544		—		2,151		511		—		19,801
Consumer real estate	65		—		—		—		—		—		—		65
Consumer and other	8		—		—		—		—		—		1,432		1,440
Total	$	1,765	$	50,780	$	33,404	$	3,956	$	45,203	$	12,808	$	1,432	$	149,348

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Additional information related to credit loss expense and net (charge-offs) recoveries is presented in the tables below. Also see Note 3 - Loans in the accompanying notes to consolidated financial statements included elsewhere in this report.

	Credit Loss Expense (Benefit)		Net (Charge-Offs) Recoveries		Average Loans		Ratio of Annualized Net (Charge-Offs) Recoveries to Average Loans
Three months ended:
June 30, 2022
Commercial and industrial	$	942	$	(698)	$	5,531,663	(0.05)	%
Energy	427		418		1,040,893		0.16
Paycheck Protection Program	—		—		143,989		—
Commercial real estate	(12,232)		384		7,964,298		0.02
Consumer real estate	583		(88)		1,495,799		(0.02)
Consumer and other	5,884		(2,823)		497,847		(2.27)
Total	$	(4,396)	$	(2,807)	$	16,674,489	(0.07)
Excluding PPP loans	$	(4,396)	$	(2,807)	$	16,530,500	(0.07)
June 30, 2021
Commercial and industrial	$	(5,901)	$	280	$	4,705,857	0.02	%
Energy	(5,527)		65		1,024,691		0.03
Paycheck Protection Program	—		—		2,648,345		—
Commercial real estate	3,654		(101)		7,069,124		(0.01)
Consumer real estate	611		(93)		1,335,763		(0.03)
Consumer and other	2,784		(1,742)		462,609		(1.51)
Total	$	(4,379)	$	(1,591)	$	17,246,389	(0.04)
Excluding PPP loans	$	(4,379)	$	(1,591)	$	14,598,044	(0.04)
Six months ended:
June 30, 2022
Commercial and industrial	$	18,503	$	(3,324)	$	5,491,632	(0.12)	%
Energy	(1,617)		667		1,045,338		0.13
Paycheck Protection Program	—		—		222,773		—
Commercial real estate	(27,841)		11		7,826,540		—
Consumer real estate	557		(288)		1,459,142		(0.04)
Consumer and other	10,466		(6,168)		485,844		(2.56)
Total	$	68	$	(9,102)	$	16,531,269	(0.11)
Excluding PPP loans	$	68	$	(9,102)	$	16,308,496	(0.11)
June 30, 2021
Commercial and industrial	$	(7,866)	$	(706)	$	4,764,241	(0.03)	%
Energy	(11,328)		(215)		1,093,080		(0.04)
Paycheck Protection Program	—		—		2,739,210		—
Commercial real estate	12,576		525		7,068,403		0.01
Consumer real estate	(2,111)		339		1,332,196		0.05
Consumer and other	4,350		(3,453)		466,814		(1.49)
Total	$	(4,379)	$	(3,510)	$	17,463,944	(0.04)
Excluding PPP loans	$	(4,379)	$	(3,510)	$	14,724,734	(0.05)

We recorded a net credit loss expense related to loans totaling $68 thousand for the six months ended June 30, 2022 while no net credit loss expense or benefit was recognized during the same period in 2021. Net credit loss expense/benefit for each portfolio segment reflects the amount needed to adjust the allowance for credit losses allocated to that segment to the level of expected credit losses determined under our allowance methodology after net charge-offs have been recognized. The net credit loss expense related to loans during the first six months of 2022 primarily reflects increases in expected credit losses associated with commercial and industrial loans, primarily related to the down-side scenario overlay discussed above, and consumer and other loans, primarily related to an increase in modeled losses, as well as the level of net charge-offs associated with these loan portfolio segments. The impact of these items was partly offset by a decrease in expected credit losses associated with commercial real estate loans, primarily related to a decrease in expected credit losses related to certain pandemic impacted industries and a reduction in the minimum reserve ratio for our commercial real estate - owner occupied portfolio. The ratio of the allowance for credit losses on loans to total loans was 1.43% (1.44% excluding PPP loans) at June 30, 2022 compared to

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1.52% (1.56% excluding PPP loans) at December 31, 2021. Management believes the recorded amount of the allowance for credit losses on loans is appropriate based upon management’s best estimate of current expected credit losses within the existing portfolio of loans. Should any of the factors considered by management in making this estimate change, our estimate of current expect credit losses could also change, which could affect the level of future credit loss expense related to loans.

Allowance for Credit Losses - Off-Balance-Sheet Credit Exposures. The allowance for credit losses on off-balance-sheet credit exposures totaled approximately $50.2 million and $50.3 million at June 30, 2022 and December 31, 2021, respectively. The level of the allowance for credit losses on off-balance-sheet credit exposures depends upon the volume of outstanding commitments, underlying risk grades, the expected utilization of available funds and forecasted economic conditions impacting our loan portfolio. Our policies and methodology used to estimate the allowance for credit losses on off-balance-sheet credit exposures are further described in our 2021 Form 10-K. We recognized a net credit loss benefit related to off-balance-sheet credit exposures totaling $68 thousand during the six months ended June 30, 2022 compared to a net credit loss expense of $4.4 million during the same period in 2021.

Capital and Liquidity

Capital. Shareholders’ equity totaled $3.3 billion and $4.4 billion at June 30, 2022 and December 31, 2021, respectively. The decrease was primarily related to the accumulated other comprehensive income/loss component of shareholders’ equity which decreased to a net, after-tax, unrealized loss of $874.2 million at June 30, 2022 from a net, after-tax unrealized gain of $347.3 million at December 31, 2021. The change was primarily due to a $1.2 billion net, after-tax, decrease in the fair value of securities available for sale. Other uses of capital during the six months ended June 30, 2022 included $100.3 million of dividends paid on preferred and common stock and $996 thousand of treasury stock purchases. Sources of capital during the six months ended June 30, 2022 included net income of $218.2 million, $6.5 million in proceeds from stock option exercises and $5.5 million related to stock-based compensation.

Under the Basel III Capital Rules, we have elected to opt-out of the requirement to include most components of accumulated other comprehensive income in regulatory capital. Accordingly, amounts reported as accumulated other comprehensive income/loss do not increase or reduce regulatory capital and are not included in the calculation of our regulatory capital ratios. In connection with the adoption of ASC 326 on January 1, 2020, we also elected to exclude, for a transitional period, the effects of credit loss accounting under CECL in the calculation of our regulatory capital and regulatory capital ratios. Regulatory agencies for banks and bank holding companies utilize capital guidelines designed to measure capital and take into consideration the risk inherent in both on-balance-sheet and off-balance-sheet items. See Note 7 - Capital and Regulatory Matters in the accompanying notes to consolidated financial statements included elsewhere in this report.

We paid a quarterly dividend of $0.75 per common share during each of the first and second quarters of 2022 and a quarterly dividend of $0.72 per common share during each of the first and second quarters of 2021. These dividend amounts equate to a common stock dividend payout ratio of 45.1% and 40.1% during the first six months of 2022 and 2021, respectively. Our ability to declare or pay dividends on, or purchase, redeem or otherwise acquire, shares of our capital stock may be impacted by certain restrictions described in Note 7 - Capital and Regulatory Matters in the accompanying notes to consolidated financial statements included elsewhere in this report.

Stock Repurchase Plans. From time to time, our board of directors has authorized stock repurchase plans. In general, stock repurchase plans allow us to proactively manage our capital position and return excess capital to shareholders. Shares purchased under such plans also provide us with shares of common stock necessary to satisfy obligations related to stock compensation awards. On January 26, 2022 our board of directors authorized a $100.0 million stock repurchase program, allowing us to repurchase shares of our common stock over a one-year period from time to time at various prices in the open market or through private transactions. No shares have been repurchased under this plan or under a prior plan during the reported periods. See Note 7 - Capital and Regulatory Matters in the accompanying notes to consolidated financial statements and Part II, Item 2 - Unregistered Sales of Equity Securities and Use of Proceeds, each included elsewhere in this report.

Liquidity. As more fully discussed in our 2021 Form 10-K, our liquidity position is continuously monitored and adjustments are made to the balance between sources and uses of funds as deemed appropriate. Liquidity risk management is an important element in our asset/liability management process. We regularly model liquidity stress scenarios to assess potential liquidity outflows or funding problems resulting from economic disruptions, volatility in the financial markets, unexpected credit events or other significant occurrences deemed problematic by management. These scenarios are incorporated into our contingency funding plan, which provides the basis for the identification of our liquidity needs. Our principal source of funding has been our customer deposits, supplemented by our short-term and long-term borrowings as well as maturities of securities and loan amortization. As of June 30, 2022, we had approximately $12.7 billion held in an interest-bearing account at the Federal Reserve. We also have the ability to borrow funds as a member of the Federal Home Loan Bank (“FHLB”). As of June 30, 2022, based upon available, pledgeable collateral, our total borrowing capacity with the FHLB was approximately $3.2 billion.

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Furthermore, at June 30, 2022, we had approximately $14.1 billion in securities that were unencumbered by a pledge and could be used to support additional borrowings through repurchase agreements or the Federal Reserve discount window, as needed.

Since Cullen/Frost is a holding company and does not conduct operations, its primary sources of liquidity are dividends upstreamed from Frost Bank and borrowings from outside sources. Banking regulations may limit the amount of dividends that may be paid by Frost Bank. See Note 7 - Capital and Regulatory Matters in the accompanying notes to consolidated financial statements included elsewhere in this report regarding such dividends. At June 30, 2022, Cullen/Frost had liquid assets, including cash and resell agreements, totaling $432.8 million.

Accounting Standards Updates

See Note 17 - Accounting Standards Updates in the accompanying notes to consolidated financial statements included elsewhere in this report for details of recently issued accounting pronouncements and their expected impact on our financial statements.

62

Item 3. Quantitative and Qualitative Disclosures About Market Risk

The disclosures set forth in this item are qualified by the section captioned “Forward-Looking Statements and Factors that Could Affect Future Results” included in Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations of this report and other cautionary statements set forth elsewhere in this report.

Refer to the discussion of market risks included in Item 7A. Quantitative and Qualitative Disclosures About Market Risk in the 2021 Form 10-K. There has been no significant change in the types of market risks we face since December 31, 2021.

We utilize an earnings simulation model as the primary quantitative tool in measuring the amount of interest rate risk associated with changing market rates. The model quantifies the effects of various interest rate scenarios on projected net interest income and net income over the next 12 months. The model measures the impact on net interest income relative to a flat-rate case scenario of hypothetical fluctuations in interest rates over the next 12 months. These simulations incorporate assumptions regarding balance sheet growth and mix, pricing and the repricing and maturity characteristics of the existing and projected balance sheet. The impact of interest rate derivatives, such as interest rate swaps, caps and floors, is also included in the model. Other interest rate-related risks such as prepayment, basis and option risk are also considered.

For modeling purposes, as of June 30, 2022, the model simulations projected that 100 and 200 basis point ratable increases in interest rates would result in positive variances in net interest income of 2.9% and 6.1%, respectively, relative to the flat-rate case over the next 12 months, while 100 and 175 basis point ratable decreases in interest rates would result in a negative variances in net interest income of 2.7% and 8.3%, respectively, relative to the flat-rate case over the next 12 months. For modeling purposes, as of December 31, 2021, the model simulations projected that 100 and 200 basis point ratable increases in interest rates would result in positive variances in net interest income of 2.8% and 7.1%, respectively, relative to the flat-rate case over the next 12 months, while a 25 basis point ratable decrease in interest rates would result in a negative variance in net interest income of 3.0% relative to the flat-rate case over the next 12 months. The likelihood of a decrease in interest rates beyond 175 basis points as of June 30, 2022 and 25 basis points as of December 31, 2021 was considered remote given prevailing interest rate levels.

We do not currently pay interest on a significant portion of our commercial demand deposits. Any interest rate that would ultimately be paid on these commercial demand deposits would likely depend upon a variety of factors, some of which are beyond our control. Our June 30, 2022 model simulations do not assume any payment of interest on commercial demand deposits (those not already receiving an earnings credit) while our modeling simulations as of December 31, 2021 assumed a slightly aggressive pricing structure with regards to interest payments on commercial demand deposits (those not already receiving an earnings credit) with interest payments assumed to begin in the first quarter of 2022. This pricing structure on commercial demand deposits assumed a deposit pricing beta of 25%. The pricing beta is a measure of how much deposit rates reprice, up or down, given a defined change in market rates. As of June 30, 2022, management believes, based on our experience during the last interest rate cycle, that it is less likely we will pay interest on these deposits as rates increase.

The model simulations as of June 30, 2022 indicate that our projected balance sheet is slightly less asset sensitive in comparison to our balance sheet as of December 31, 2021. The decreased asset sensitivity was partly due to a decrease in the relative proportion of interest-bearing deposits (primarily amounts held in an interest-bearing account at the Federal Reserve) and federal funds sold to projected average interest-earning assets combined with an increase in the relative proportion of fixed-rate taxable securities to projected average interest-earning assets. Interest-bearing deposits and federal funds sold are more immediately impacted by changes in interest rates in comparison to our other categories of earning assets.

As of June 30, 2022, the effects of a 200 basis point increase and a 100 basis point decrease in interest rates on our derivative holdings would not result in a significant variance in our net interest income.

The effects of hypothetical fluctuations in interest rates on our securities classified as “trading” under ASC Topic 320, “Investments—Debt and Equity Securities,” are not significant, and, as such, separate quantitative disclosure is not presented.

Item 4. Controls and Procedures

As of the end of the period covered by this Quarterly Report on Form 10-Q, an evaluation was carried out by management, with the participation of its Chief Executive Officer and Chief Financial Officer, of the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934). Based upon that evaluation, the Chief Executive Officer and Chief Financial Officer concluded that the disclosure controls and procedures were effective as of the end of the period covered by this report. No change in our internal control over financial reporting (as defined in Rule 13a-15(f) under the Securities Exchange Act of 1934) occurred during the last fiscal quarter that materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

63

Part II. Other Information

Item 1. Legal Proceedings

We are subject to various claims and legal actions that have arisen in the course of conducting business. Management does not expect the ultimate disposition of these matters to have a material adverse impact on our financial statements.

Item 1A. Risk Factors

There has been no material change in the risk factors disclosed under Item 1A. of our 2021 Form 10-K.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

The following table provides information with respect to purchases we made or were made on our behalf or any “affiliated purchaser” (as defined in Rule 10b-18(a)(3) under the Securities Exchange Act of 1934), of our common stock during the three months ended June 30, 2022. Dollar amounts in thousands.

Period	Total Number of Shares Purchased	Average Price Paid Per Share		Total Number of Shares Purchased as Part of Publicly Announced Plan	Maximum Number of Shares (or Approximate Dollar Value) That May Yet Be Purchased Under the Plan at the End of the Period
April 1, 2022 to April 30, 2022	—	$	—	—	$	100,000
May 1, 2022 to May 31, 2022	—	—		—	100,000
June 1, 2022 to June 30, 2022	—	—		—	100,000
Total	—			—

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

None.

Item 5. Other Information

None.

64

Item 6. Exhibits

(a) Exhibits

Exhibit Number	Description
10.1(1)	Form of Non-Qualified Stock Option Award Agreement - 2005 Plan
10.2(1)	Form of Non-Qualified Stock Option Award Agreement - 2015 Plan
10.3(1)	Form of Restricted Stock Unit Award Agreement - 4 Year Award
10.4(1)	Form of Restricted Stock Unit Award Agreement - 3 Year Award
10.5(1)	Form of Performance Stock Unit Award Agreement - 2019
10.6(1)	Form of Performance Stock Unit Award Agreement - 2020
10.7(1)	Form of Performance Stock Unit Award Agreement - 2021
10.8(1)	Form of Deferred Stock Unit Award Agreement with Outside Directors
31.1	Rule 13a-14(a) Certification of the Corporation's Chief Executive Officer
31.2	Rule 13a-14(a) Certification of the Corporation's Chief Financial Officer
32.1(2)	Section 1350 Certification of the Corporation's Chief Executive Officer
32.2(2)	Section 1350 Certification of the Corporation's Chief Financial Officer
101.INS(3)	Inline XBRL Instance Document
101.SCH	Inline XBRL Taxonomy Extension Schema Document
101.CAL	Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	InlineXBRL Taxonomy Extension Label Linkbase Document
101.PRE	Inline XBRL Taxonomy Extension Presentation Linkbase Document
104(4)	Cover Page Interactive Data File

(1)Management contract or compensatory plan or arrangement.

(2)This exhibit shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section, and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934.

(3)The instance document does not appear in the interactive data file because its XBRL tags are embedded within the Inline XBRL document.

(4)Formatted as Inline XBRL and contained within the Inline XBRL Instance Document in Exhibit 101.

65

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

		Cullen/Frost Bankers, Inc.
		(Registrant)
Date:	July 28, 2022	By:	/s/ Jerry Salinas
			Jerry Salinas
			Group Executive Vice President
			and Chief Financial Officer
			(Duly Authorized Officer, Principal Financial
			Officer and Principal Accounting Officer)

66

EX-10.1

Exhibit 10.1

Form of Non-Qualified Stock Option

Award Agreement - 2005 Plan

NON-QUALIFIED
STOCK OPTION AGREEMENT

Agreement made this [•] day of [•], [•] (“Grant Date”) between Cullen/Frost Bankers, Inc., a Texas corporation (the “Company”), and [•] (“Employee”).

To carry out the purposes of Cullen/Frost Bankers, Inc. 2005 OMNIBUS INCENTIVE PLAN (the “Plan”) by affording Employee the opportunity to purchase shares of the $.01 par value common stock of the Company (“Stock”), the Company and Employee hereby agree as follows:

1.Grant of Option. The Company hereby irrevocably grants to Employee the right and option (“Option”) to purchase all or any part of an aggregate of [•] shares of Stock, on the terms and conditions set forth herein and in the Plan, which is incorporated herein by reference as a part of this Option.

2.Purchase Price. The purchase price of Stock purchased pursuant to the exercise of this Option shall be [•] per share, which is deemed to be not less than the fair market value of the Stock at the date of grant of this option.

3.Exercise of Option/Expiration Date. (a) Subject to the earlier expiration of this Option as herein provided, this Option may be exercised for Shares, by written notice to the Company, at any time and from time to time after the date of grant hereof, but this Option shall not be exercisable for more than a percentage of the aggregate number of Shares offered by this Option determined by the number of full years from the date of grant hereof to the date of such exercise, in accordance with the following schedule:

Vesting Date	Cumulative Shares Vested
[First anniversary of award]	25%
[Second anniversary of award]	50%
[Third anniversary of award]	75%
[Fourth anniversary of award]	100%

(b)    This Option is not transferable by Employee otherwise than by will or the laws of descent and distribution, except as may be permitted in the discretion of the Compensation and Benefits Committee. This Option may be exercised only by Employee during his/her lifetime and while he/she remains an employee of the Company, except that:

(i)    If Employee’s employment with the Company terminates for cause or voluntarily by Employee without the written consent of the Company, this Option shall immediately terminate and shall no longer be exercisable.

(ii)    If Employee’s employment with the Company terminates other than due to death, Retirement or as provided in (a) above, Employee may exercise this Option at any time during the period of [90 days] following the date of such termination, but only as to the number of shares Employee was entitled to purchase hereunder as the date his/her employment so terminates.

(iii)    If Employee terminates employment due to Retirement from the Company, the Option shall continue to become exercisable in accordance with the schedule set forth in Section 3(a) above and shall be exercisable through the earlier of the end of the original expiration date of the Option (as described below) or the fifth (5th) anniversary of the date of Employee’s Retirement. Notwithstanding the foregoing, if Employee dies after Retirement but before the Option has lapsed or been fully exercised, Employee’s estate, or the person who acquires this Option by bequest or

inheritance or by reason of the death of Employee, may exercise this Option at any time during the period of one year following the date of Employee’s death (provided that the one year period does not exceed the original expiration date of the Option), but only as to the number of shares Employee was entitled to purchase hereunder as of the date of Employee’s death.

(iv)    If Employee dies while in the employ of the Company thru the original expiration date, Employee’s estate, or the person who acquires this Option by bequest or inheritance or by reason of the death of Employee, may exercise this Option in full at any time during the period of one-year following the date of Employee’s death (provided that the one year period does not exceed the expiration date of the option).

(c)    This Option shall not be exercisable in any event after the tenth (10th) anniversary of the Grant Date. Subject to the limitations set forth in this Agreement, this Option may be exercised in whole or in part from time to time by written request to the Company, attention of the Secretary. Payment of the exercise price shall be made in cash or in shares of Stock which have been held by the Employee for more than six months, or any combination of both cash and shares of Stock; in such case, shares of Stock delivered to the Company as payment for Stock issued upon exercise of an Option shall be valued at their fair market value (as determined by the Committee) or their par value, if higher. Payment in full in cash and/or Stock shall be made at the time of each exercise. Unless and until a certificate or certificates representing such shares shall have been issued by the Company to Employee or evidence of electronic transfer of ownership of such shares has been provided to the Employee, Employee (or the person permitted to exercise this Option in the event of Employee’s death or incapacity) shall not be or have any of the rights or privileges of a shareholder of the Company with respect to shares acquirable upon an exercise of this Option.

4.Change in Control. If at any time there shall occur a Change in Control (as defined in the Plan), then the time at which this Option may be exercised shall be accelerated and this Option shall immediately become exercisable in full.

Notwithstanding anything in the foregoing to the contrary, no Change in Control shall be deemed to have occurred for purposes of this Agreement by virtue of any transaction which results in Employee, or a group of Persons which includes Employee, acquiring, directly or indirectly, 20 percent or more of the combined voting power of the Company’s Voting Securities. Notwithstanding anything in the foregoing to the contrary, if any of the payments provided for in this Agreement would constitute a “parachute payment” (as defined in Section 280G(b) (2) of the Code) (considered without regard to any other payments not provided for under this Agreement), such parachute payments pursuant to this Agreement shall be reduced to the largest amount as will result in no portion of such payments being subject to the excise tax imposed by Section 4999 of the code: provided, however, that the determination as to whether any reduction in the payments under this Agreement pursuant to this paragraph is necessary shall be made by the Employee in good faith, and such determination shall be conclusive and binding on the Company with respect to its treatment of the payment for tax reporting purposes.

Notwithstanding any provisions to the contrary, the Board of Directors (“Board”) reserves the right to provide the Employee with additional benefits, including, but not limited to, providing benefits hereunder in excess of the limitations described above, which the Board determines are appropriate in its sole discretion.

5.Employment. Nothing in the Agreement shall interfere with or limit in any way the right of the Company to terminate any Employee’s employment at any time nor confer upon any Employee any right to continue in the employ of the Company.

6.Binding Effect. This Agreement shall be binding upon and inure to the benefit of any successors to the Company and all persons lawfully claiming under Employee.

7.Governing Law. The Plan and this Agreement shall be construed in accordance with and governed by the laws of the State of Texas.

IN WITNESS WHEREOF, the Company has caused this Agreement to be duly executed by its officers thereunto duly authorized, and Employee has executed this Agreement, all as of the day and year first above written.

CULLEN/FROST BANKERS, INC.

By: [•]

Employee’s Signature

EX-10.2

Exhibit 10.2

Form of Non-Qualified Stock Option

Award Agreement - 2015 Plan

NON-QUALIFIED
STOCK OPTION AGREEMENT

Agreement made this [•] day of [•], [•] (“Grant Date”) between Cullen/Frost Bankers, Inc., a Texas corporation (the “Company”), and [•] (“Employee”). All capitalized terms used in the Agreement shall have the same meaning given the terms in the Plan (as defined below).

To carry out the purposes of Cullen/Frost Bankers, Inc. 2015 OMNIBUS INCENTIVE PLAN (the “Plan”) by affording Employee the opportunity to purchase shares of the $.01 par value common stock of the Company (“Stock”), the Company and Employee hereby agree as follows:

1.Grant of Option. The Company hereby irrevocably grants to Employee the right and option (“Option”) to purchase all or any part of an aggregate of [•] shares of Stock, on the terms and conditions set forth herein and in the Plan, which is incorporated herein by reference as a part of this Option.

2.Purchase Price. The purchase price of Stock purchased pursuant to the exercise of this Option shall be [•] per share, which is deemed to be not less than the Fair Market Value of a share of Stock at the Grant Date.

3.Exercise of Option/Expiration Date. (a) Subject to the earlier vesting, expiration or termination of this Option as herein provided, this Option may be exercised for Shares, by written notice to the Company, at any time and from time to time after the Grant Date, but this Option shall not be exercisable for more than a percentage of the aggregate number of Shares offered by this Option determined by the number of full years from the Grant Date to the date of such exercise, in accordance with the following schedule:

Vesting Date	Cumulative Shares Vested
[First anniversary of award]	25%
[Second anniversary of award]	50%
[Third anniversary of award]	75%
[Fourth anniversary of award]	100%

(b)    This Option is not transferable by Employee otherwise than by will or the laws of descent and distribution, except as may be permitted in the discretion of the Committee. This Option may be exercised only by Employee during his/her lifetime and while he/she remains an employee of the Company, except that:

(i)    If Employee’s employment with the Company is terminated by the Company for Cause or for any reason by Employee (except as provided below), this Option, whether or not vested, shall immediately terminate and shall no longer be exercisable as of the date of such termination of employment.

(ii)    If Employee’s employment with the Company terminates other than due to death, Retirement or as provided in clause (i) above, Employee may exercise this Option at any time during the period of 90 days following the date of such termination (provided that the 90-day period does not exceed the original expiration date of the Option), but only to the extent the Option was vested as of the date his/her employment so terminates.

(iii)    If Employee terminates employment due to Retirement from the Company, the Option shall continue to become exercisable in accordance with the schedule set forth in Section 3(a) above and shall be exercisable through the earlier of the end of the original expiration date of the Option (as described below) or the fifth (5th) anniversary of the date of Employee’s Retirement.

For purposes of this Agreement, “Retirement” means Employee’s termination of employment on or after the date Employee reaches age 65. Notwithstanding the foregoing, if Employee dies after Retirement but before the Option has lapsed or been fully exercised, Employee’s estate, or the person who acquires this Option by bequest or inheritance or by reason of the death of Employee, may exercise this Option at any time during the period of one year following the date of Employee’s death (provided that the one year period does not exceed the original expiration date of the Option), but only to the extent the Option was vested as of the date of Employee’s death.

(iv)    If Employee dies while in the employ of the Company, Employee’s estate, or the person who acquires this Option by bequest or inheritance or by reason of the death of Employee, may exercise this Option in full at any time during the period of one-year following the date of Employee’s death (provided that the one year period does not exceed the expiration date of the option), but only to the extent the Option was vested as of the date of Employee’s death.

(c)    This Option shall not be exercisable in any event after the tenth (10th) anniversary of the Grant Date. Subject to the limitations set forth in this Agreement, this Option may be exercised in whole or in part from time to time by written request to the Company. Payment of the exercise price shall be made in cash or in shares of Stock which have been held by the Employee for more than six months, or any combination of both cash and shares of Stock; in such case, shares of Stock delivered to the Company as payment of the exercise price upon exercise of an Option shall be valued at their Fair Market Value. Payment in full in cash and/or Stock shall be made at the time of each exercise. Unless and until a certificate or certificates representing such shares of Stock shall have been issued by the Company to Employee or evidence of electronic transfer of ownership of such shares has been provided to the Employee, Employee (or the person permitted to exercise this Option in the event of Employee’s death or incapacity) shall not be or have any of the rights or privileges of a shareholder of the Company with respect to shares acquirable upon an exercise of this Option.

4.Change in Control. If at any time there shall occur a Change in Control, and Employee’s employment with the Company is terminated by the Company without Cause) then the time at which this Option may be exercised shall be accelerated and this Option shall immediately become exercisable in full as of the date of such termination of employment and Employee may exercise this Option at any time during the one-year period following the date of such termination (provided that such one-year period does not exceed the original expiration date of the Option).

Notwithstanding anything in the foregoing to the contrary, no Change in Control shall be deemed to have occurred for purposes of this Agreement by virtue of any transaction which results in Employee, or a group of Persons which includes Employee, acquiring, directly or indirectly, 20 percent or more of the combined voting power of the Company’s Voting Securities. Notwithstanding anything in the foregoing to the contrary, if any of the payments provided for in this Agreement would constitute a “parachute payment” (as defined in Section 280G(b) (2) of the Code) (considered without regard to any other payments not provided for under this Agreement), such parachute payments pursuant to this Agreement shall be reduced to the largest amount as will result in no portion of such payments being subject to the excise tax imposed by Section 4999 of the code: provided, however, that the determination as to whether any reduction in the payments under this Agreement pursuant to this paragraph is necessary shall be made by the Employee in good faith, and such determination shall be conclusive and binding on the Company with respect to its treatment of the payment for tax reporting purposes.

Notwithstanding any provisions to the contrary, the Board reserves the right to provide the Employee with additional benefits, including, but not limited to, providing benefits hereunder in excess of the limitations described above, which the Board determines are appropriate in its sole discretion.

5.Employment. Nothing in the Agreement shall interfere with or limit in any way the right of the Company to terminate any Employee’s employment at any time nor confer upon any Employee any right to continue in the employ of the Company.

6.Binding Effect. This Agreement shall be binding upon and inure to the benefit of any successors to the Company and all persons lawfully claiming under Employee.

7.Governing Law. The Plan and this Agreement shall be construed in accordance with and governed by the laws of the State of Texas.

IN WITNESS WHEREOF, the Company has caused this Agreement to be duly executed by its officers thereunto duly authorized, and Employee has executed this Agreement, all as of the day and year first above written.

CULLEN/FROST BANKERS, INC.

By: [•]

Employee’s Signature

EX-10.3

Exhibit 10.3

Form of Restricted Stock Unit Award

Agreement - 4 Year Award

CULLEN/FROST BANKERS, INC.

RESTRICTED STOCK UNIT AGREEMENT

This Restricted Stock Unit Agreement (hereinafter referred to as the “Agreement”) is made and entered into this [•] day of [•], [•] (the “Grant Date”) by and between Cullen/Frost Bankers, Inc. (hereinafter referred to as the “Company”) and [•] (hereinafter referred to as the “Participant”), pursuant to the Cullen/Frost Bankers, Inc. 2015 OMNIBUS INCENTIVE PLAN (hereinafter referred to as the “Plan”). All terms and provisions of the Plan are hereby incorporated into and shall govern the Agreement except where general provisions of the Plan are superseded by particular provisions of the Agreement. All capitalized terms used in the Agreement shall have the same meaning given the terms in the Plan.

1.Grant of Restricted Stock Units. The Company hereby grants the Participant [•] Restricted Stock Units (hereinafter referred to as the “Award”), which are subject to restrictions set forth below.

2.Vesting of Restricted Stock Units. Subject to the terms of this Agreement and the Plan, the Award shall vest on the fourth (4th) anniversary of the Grant Date (the “Vesting Date”). The Award shall vest, provided that the terms and conditions of the Plan have been met and provided, further, that the Participant remains employed at the Company on Vesting Date (except as otherwise provided in this Agreement). Upon the Vesting Date or such earlier vesting date as otherwise provided in this Agreement, the Award shall be promptly paid out in Shares.

3.Dividend Equivalents. Prior to the vesting, expiration, or other termination of this Award, the Participant shall have the right to receive dividend equivalent payments based on the regular cash dividends paid or distributed on the underlying Stock, which dividend equivalents shall be paid to the Participant in cash upon the date that regular cash dividends are paid to shareholders.

4.Termination of Employment. In the event that the Participant’s employment terminates because of death or Disability, the Award shall vest and be immediately payable. In the event that the Participant terminates employment on or after the date the Participant reaches age 65 (hereinafter referred to as “Retirement”) but prior to the Vesting Date, the Award shall continue to vest and be payable on the Vesting Date.

Except as set forth in this paragraph 4 and in paragraph 5 below, in the event that a Participant’s employment with the Company is terminated for any reason other than death, Disability or Retirement, prior to the Vesting Date, then the Award shall be forfeited for no consideration upon such termination of employment.

5.Change in Control. In accordance with Section 17.1(a) of the Plan, the Award shall become immediately fully vested as of the effective date of Participant’s termination of employment by the Company without Cause within the twenty-four (24) month period following a Change in Control.

Notwithstanding anything in the foregoing to the contrary, no Change in Control shall be deemed to have occurred for purposes of this Agreement by virtue of any transaction which results in the Participant, or a group of Persons which includes the Participant, acquiring, directly or indirectly, 20 percent or more of the combined voting power of the Company Voting Securities. Notwithstanding anything in the foregoing to the contrary, if any of the payments provided for in this Agreement would constitute a “parachute payment” (as defined in Section 280G(b) (2) of the Code) (considered without regard to any other payments not provided for under this Agreement), the payments pursuant to this Agreement shall be reduced to the largest amount as will result in no portion of such payments being subject to the excise tax imposed by Section 4999 of the code: provided, however, that the determination as to whether any reduction in the payments under this Agreement pursuant to this paragraph is necessary shall be made by the Participant in good faith, and such determination shall be conclusive and binding on the Company with respect to its treatment of the payment for tax reporting purposes.

Notwithstanding any provisions to the contrary, the Board reserves the right to provide the Participant with additional benefits, including, but not limited to, providing benefits hereunder in excess of the limitations described above, which the Board determines are appropriate in its sole discretion.

6.Employment. Nothing in the Agreement shall interfere with or limit in any way the right of the Company to terminate the Participant’s employment at any time nor confer upon any Participant any right to continue in the employ of the Company.

7.Withholding Taxes. The Participant acknowledges and agrees that the Company has the right to deduct from any payments due to the Participant any Federal, state, or local taxes required by law to be withheld with respect to the Award.

8.Compliance with Securities Laws. The Participant acknowledges that the rights of the Participant to transfer shares of Restricted Stock shall be subject to compliance with the requirement of federal and state securities laws, including, but not limited to, rule 144 under the Securities Act of 1933.

9.Governing Law. The Plan and this Agreement shall be construed in accordance with and governed by the laws of the State of Texas.

10.Binding Effect. This Agreement shall be binding upon and inure to the benefit of any successors to the Company and all persons lawfully claiming under Participant.

IN WITNESS WHEREOF, this Agreement is executed by the Company and by the participant as of this [•] day of [•], [•].

CULLEN/FROST BANKERS, INC.

By:    [•]

PARTICIPANT

[•]

EX-10.4

Exhibit 10.4

Form of Restricted Stock Unit Award

Agreement - 3 Year Award

CULLEN/FROST BANKERS, INC.

RESTRICTED STOCK UNIT AGREEMENT

This Restricted Stock Unit Agreement (hereinafter referred to as the “Agreement”) is made and entered into this [•] day of [•], [•] (the “Grant Date”) by and between Cullen/Frost Bankers, Inc. (hereinafter referred to as the “Company”) and [•] (hereinafter referred to as the “Participant”), pursuant to the Cullen/Frost Bankers, Inc. 2015 OMNIBUS INCENTIVE PLAN (hereinafter referred to as the “Plan”). All terms and provisions of the Plan are hereby incorporated into and shall govern the Agreement except where general provisions of the Plan are superseded by particular provisions of the Agreement. All capitalized terms used in the Agreement shall have the same meaning given the terms in the Plan.

1.Grant of Restricted Stock Units. The Company hereby grants the Participant [•] Restricted Stock Units (hereinafter referred to as the “Award”), which are subject to restrictions set forth below.

2.Vesting of Restricted Stock Units. Subject to the terms of this Agreement and the Plan, the Award shall vest on the third (3rd) anniversary of the Grant Date (the “Vesting Date”). The Award shall vest, provided that the terms and conditions of the Plan have been met and provided, further, that the Participant remains employed at the Company on Vesting Date (except as otherwise provided in this Agreement). Upon the Vesting Date or such earlier vesting date as otherwise provided in this Agreement, the Award shall be promptly paid out in Shares.

3.Dividend Equivalents. Prior to the vesting, expiration, or other termination of this Award, the Participant shall have the right to receive dividend equivalent payments based on the regular cash dividends paid or distributed on the underlying Stock, which dividend equivalents shall be paid to the Participant in cash upon the date that regular cash dividends are paid to shareholders.

4.Termination of Employment. In the event that the Participant’s employment terminates because of death or Disability, the Award shall vest and be immediately payable. In the event that the Participant terminates employment on or after the date the Participant reaches age 65 (hereinafter referred to as “Retirement”) but prior to the Vesting Date, the Award shall continue to vest and be payable on the Vesting Date.

Except as set forth in this paragraph 4 and in paragraph 5 below, in the event that a Participant’s employment with the Company is terminated for any reason other than death, Disability or Retirement, prior to the Vesting Date, then the Award shall be forfeited for no consideration upon such termination of employment.

5.Change in Control. In accordance with Section 17.1(a) of the Plan, the Award shall become immediately fully vested as of the effective date of Participant’s termination of employment by the Company without Cause within the twenty-four (24) month period following a Change in Control.

Notwithstanding anything in the foregoing to the contrary, no Change in Control shall be deemed to have occurred for purposes of this Agreement by virtue of any transaction which results in the Participant, or a group of Persons which includes the Participant, acquiring, directly or indirectly, 20 percent or more of the combined voting power of the Company Voting Securities. Notwithstanding anything in the foregoing to the contrary, if any of the payments provided for in this Agreement would constitute a “parachute payment” (as defined in Section 280G(b) (2) of the Code) (considered without regard to any other payments not provided for under this Agreement), the payments pursuant to this Agreement shall be reduced to the largest amount as will result in no portion of such payments being subject to the excise tax imposed by Section 4999 of the code: provided, however, that the determination as to whether any reduction in the payments under this Agreement pursuant to this paragraph is necessary shall be made by the Participant in good faith, and such determination shall be conclusive and binding on the Company with respect to its treatment of the payment for tax reporting purposes.

Notwithstanding any provisions to the contrary, the Board reserves the right to provide the Participant with additional benefits, including, but not limited to, providing benefits hereunder in excess of the limitations described above, which the Board determines are appropriate in its sole discretion.

6.Employment. Nothing in the Agreement shall interfere with or limit in any way the right of the Company to terminate the Participant’s employment at any time nor confer upon any Participant any right to continue in the employ of the Company.

7.Withholding Taxes. The Participant acknowledges and agrees that the Company has the right to deduct from any payments due to the Participant any Federal, state, or local taxes required by law to be withheld with respect to the Award.

8.Compliance with Securities Laws. The Participant acknowledges that the rights of the Participant to transfer shares of Restricted Stock shall be subject to compliance with the requirement of federal and state securities laws, including, but not limited to, rule 144 under the Securities Act of 1933.

9.Governing Law. The Plan and this Agreement shall be construed in accordance with and governed by the laws of the State of Texas.

10.Binding Effect. This Agreement shall be binding upon and inure to the benefit of any successors to the Company and all persons lawfully claiming under Participant.

IN WITNESS WHEREOF, this Agreement is executed by the Company and by the participant as of this [•] day of [•], [•].

CULLEN/FROST BANKERS, INC.

By:    [•]

PARTICIPANT

[•]

EX-10.5

Exhibit 10.5

Form of Performance Stock Unit Award Agreement

2019

CULLEN/FROST BANKERS, INC.

PERFORMANCE STOCK UNIT AGREEMENT

This Performance Stock Unit Agreement (hereinafter referred to as the “Agreement”) is made and entered into this [•] day of [•], [•] (the “Grant Date”) by and between Cullen/Frost Bankers, Inc. (hereinafter referred to as the “Company”) and [•] (hereinafter referred to as the “Participant”), pursuant to the Cullen/Frost Bankers, Inc. 2015 OMNIBUS INCENTIVE PLAN (hereinafter referred to as the “Plan”). All terms and provisions of the Plan are hereby incorporated into and shall govern the Agreement except where general provisions of the Plan are superseded by particular provisions of the Agreement. All capitalized terms used in the Agreement shall have the same meaning given the terms in the Plan.

1.Grant of Performance Stock Units. The Company hereby grants the Participant Performance Stock Units (hereinafter referred to as the “Award”) for the Performance Period commencing January 1, 2020 and ending December 31, 2022, which are subject to vesting conditions described below.

2.Vesting of Performance Stock Units. Subject to the terms of this Agreement and the Plan, the Award shall vest upon certification by the Committee of the level of achievement, if any, of the applicable goals under the Performance Measure as set forth on Appendix A hereto (the “Vesting Date”). The Award shall vest as of the Vesting Date at the level determined by the Committee, which may include the Committee’s exercise of downward discretion to adjust the actual amount of the payout of the Award, and provided that the terms and conditions of the Plan have been met and, provided, further, that the Participant remains employed at the Company on the Vesting Date (except as otherwise provided in this Agreement). As soon as practicable following the Vesting Date or such earlier vesting date as otherwise provided in this Agreement, the Award shall be promptly paid out in Shares. The number of Shares payable under the Performance Stock Unit may range from 0%-150% of award.

3.Dividend Equivalents. Prior to the vesting, expiration, or other termination of this Award, the Participant shall have the right to receive dividend equivalent payments based on the regular cash dividends paid or distributed on the Shares underlying the Shares, which dividend equivalents shall be paid accumulated during the Performance Period and only paid to the Participant in cash to the extent the underlying Award vests, which amount shall be paid less applicable tax withholdings promptly following the Vesting Date.

4.Termination of Employment. In the event that the Participant terminates employment on or after the date the Participant reaches age 65 (hereinafter referred to as “Retirement”) but prior to the Vesting Date, the Award shall continue to vest and be payable on the Vesting Date.

Except as set forth in this paragraph 4 and in paragraph 5 below, in the event that a Participant’s employment with the Company is terminated for any reason other than Retirement, prior to the Vesting Date, then the Award shall be forfeited for no consideration upon such termination of employment, unless the Committee determines otherwise in its sole discretion.

5.Change in Control. In accordance with Section 17.1(a) and (b) of the Plan, (i) upon a Change in Control, the goals under the Performance Measures set forth on Appendix A shall be determined to have been earned, as of the date of the Change of Control, at the greater of targeted performance and actual performance through such date, as determined by the Committee and the Award shall continue to be subject to time-based vesting for the remainder of the Performance Period, and (ii) the Award shall become immediately fully vested as of the effective date of Participant’s termination of employment by the Company without Cause within the twenty-four (24) month period following a Change in Control.

Notwithstanding anything in the foregoing to the contrary, if any of the payments provided for in this Agreement would constitute a “parachute payment” (as defined in Section 280G(b) (2) of the Code) (considered without regard to any other payments not provided for under this Agreement), the payments pursuant to this Agreement shall be reduced to the largest amount as will result in no portion of such

payments being subject to the excise tax imposed by Section 4999 of the Code if such reduction would provide the Participant with a greater after tax amount than if such amounts were not reduced. The determination required to be made under this paragraph 5 shall be made by the public accounting firm that is retained by the Company as of the date immediately prior to the Change in Control.

Notwithstanding any provisions to the contrary, the Board reserves the right to provide the Participant with additional benefits, including, but not limited to, providing benefits hereunder in excess of the limitations described above, which the Board determines are appropriate in its sole discretion.

6.Employment. Nothing in the Agreement shall interfere with or limit in any way the right of the Company to terminate the Participant’s employment at any time nor confer upon any Participant any right to continue in the employ of the Company.

7.Withholding Taxes. The Participant acknowledges and agrees that the Company has the right to deduct from any payments due to the Participant any Federal, state, or local taxes required by law to be withheld with respect to the Award.

8.Compliance with Securities Laws. The Participant acknowledges that the rights of the Participant to receive or transfer the Shares received upon settlement of this Award shall be subject to compliance with the requirement of federal and state securities laws, including, but not limited to, rule 144 under the Securities Act of 1933.

9.Governing Law. The Plan and this Agreement shall be construed in accordance with and governed by the laws of the State of Texas.

10.Binding Effect. This Agreement shall be binding upon and inure to the benefit of any successors to the Company and all persons lawfully claiming under Participant.

IN WITNESS WHEREOF, this Agreement is executed by the Company and by the participant as of this [•] day of [•], [•].

CULLEN/FROST BANKERS, INC.

By: [•]

Title: [•]

PARTICIPANT

[•]

APPENDIX A

Performance Period: January 1, 2020 – December 31, 2022

Performance Measure: Relative Return On Assets

Performance Goals: Measure the Company’s achievement of Relative Return on Assets over the Performance Period as compared to the Company’s Peer Group’s achievement of Relative Return on Assets over the Performance Period, as reported in such Peer Group’s publicly-filed annual reports. For purposes of this Agreement, the Companies Peer Group shall consist of the following companies [People’s United Financial, Inc., Signature Bank, Synovus Financial Corp., TCF Financial Corporation, East West Bancorp, Inc., First Horizon National Corporation, BOK Financial Corporation, First Citizens BancShares, Inc., F.N.B. Corporation, Wintrust Financial Corporation, Associated Banc-Corp, BankUnited, Inc., Valley National Bancorp, IBERIABANK Corporation, Sterling Bancorp, Texas Capital Bancshares, Inc., Webster Financial Corporation, Hancock Whitney Corporation, Umpqua Holdings Corporation, Pinnacle Financial Partners, Inc., PacWest Bancorp, Commerce Bancshares, Inc., Western Alliance Bancorporation, UMB Financial Corporation, Prosperity Bancshares, Inc.] If, during the Performance Period, any member of that Peer Group (i) files for bankruptcy or becomes insolvent, such member shall remain part of the peer group, or (ii) is acquired, such that it is no longer a public company, such member shall be removed from the Peer Group, effective as of the beginning of the Performance Period.

Determination of Award Vesting: Subject to Committee certification and exercise of downward discretion. Achievement between the percentiles listed below will be determined based on straight-line interpolation as determined by the Committee in its discretion. Maximum achievement equals 150%.

Level of Achievement	Award Payout Percentage
<25th Percentile	0%
25th Percentile	50%
50th Percentile	100%
75th Percentile or greater	150%

EX-10.6

Exhibit 10.6

Form of Performance Stock Unit Award Agreement

2020

CULLEN/FROST BANKERS, INC.

PERFORMANCE STOCK UNIT AGREEMENT

This Performance Stock Unit Agreement (hereinafter referred to as the “Agreement”) is made and entered into this [•] day of [•], [•] (the “Grant Date”) by and between Cullen/Frost Bankers, Inc. (hereinafter referred to as the “Company”) and [•] (hereinafter referred to as the “Participant”), pursuant to the Cullen/Frost Bankers, Inc. 2015 OMNIBUS INCENTIVE PLAN (hereinafter referred to as the “Plan”). All terms and provisions of the Plan are hereby incorporated into and shall govern the Agreement except where general provisions of the Plan are superseded by particular provisions of the Agreement. All capitalized terms used in the Agreement shall have the same meaning given the terms in the Plan.

1.Grant of Performance Stock Units. The Company hereby grants the Participant Performance Stock Units (hereinafter referred to as the “Award”) for the Performance Period commencing January 1, 2021 and ending December 31, 2023, which are subject to vesting conditions described below.

2.Vesting of Performance Stock Units. Subject to the terms of this Agreement and the Plan, the Award shall vest upon certification by the Committee of the level of achievement, if any, of the applicable goals under the Performance Measure as set forth on Appendix A hereto (the “Vesting Date”). The Award shall vest as of the Vesting Date at the level determined by the Committee, which may include the Committee’s exercise of downward discretion to adjust the actual amount of the payout of the Award, and provided that the terms and conditions of the Plan have been met and, provided, further, that the Participant remains employed at the Company on the Vesting Date (except as otherwise provided in this Agreement). As soon as practicable following the Vesting Date or such earlier vesting date as otherwise provided in this Agreement, the Award shall be promptly paid out in Shares. The number of Shares payable under the Performance Stock Unit may range from 0%-150% of award.

3.Dividend Equivalents. Prior to the vesting, expiration, or other termination of this Award, the Participant shall have the right to receive dividend equivalent payments based on the regular cash dividends paid or distributed on the Shares underlying the Shares, which dividend equivalents shall be paid accumulated during the Performance Period and only paid to the Participant in cash to the extent the underlying Award vests, which amount shall be paid less applicable tax withholdings promptly following the Vesting Date.

4.Termination of Employment. In the event that the Participant terminates employment on or after the date the Participant reaches age 65 (hereinafter referred to as “Retirement”) but prior to the Vesting Date, the Award shall continue to vest and be payable on the Vesting Date.

Except as set forth in this paragraph 4 and in paragraph 5 below, in the event that a Participant’s employment with the Company is terminated for any reason other than Retirement, prior to the Vesting Date, then the Award shall be forfeited for no consideration upon such termination of employment, unless the Committee determines otherwise in its sole discretion.

5.Change in Control. In accordance with Section 17.1(a) and (b) of the Plan, (i) upon a Change in Control, the goals under the Performance Measures set forth on Appendix A shall be determined to have been earned, as of the date of the Change of Control, at the greater of targeted performance and actual performance through such date, as determined by the Committee and the Award shall continue to be subject to time-based vesting for the remainder of the Performance Period, and (ii) the Award shall become immediately fully vested as of the effective date of Participant’s termination of employment by the Company without Cause within the twenty-four (24) month period following a Change in Control.

Notwithstanding anything in the foregoing to the contrary, if any of the payments provided for in this Agreement would constitute a “parachute payment” (as defined in Section 280G(b) (2) of the Code) (considered without regard to any other payments not provided for under this Agreement), the payments pursuant to this Agreement shall be reduced to the largest amount as will result in no portion of such

payments being subject to the excise tax imposed by Section 4999 of the Code if such reduction would provide the Participant with a greater after tax amount than if such amounts were not reduced. The determination required to be made under this paragraph 5 shall be made by the public accounting firm that is retained by the Company as of the date immediately prior to the Change in Control.

Notwithstanding any provisions to the contrary, the Board reserves the right to provide the Participant with additional benefits, including, but not limited to, providing benefits hereunder in excess of the limitations described above, which the Board determines are appropriate in its sole discretion.

6.Employment. Nothing in the Agreement shall interfere with or limit in any way the right of the Company to terminate the Participant’s employment at any time nor confer upon any Participant any right to continue in the employ of the Company.

7.Withholding Taxes. The Participant acknowledges and agrees that the Company has the right to deduct from any payments due to the Participant any Federal, state, or local taxes required by law to be withheld with respect to the Award.

8.Compliance with Securities Laws. The Participant acknowledges that the rights of the Participant to receive or transfer the Shares received upon settlement of this Award shall be subject to compliance with the requirement of federal and state securities laws, including, but not limited to, rule 144 under the Securities Act of 1933.

9.Governing Law. The Plan and this Agreement shall be construed in accordance with and governed by the laws of the State of Texas.

10.Binding Effect. This Agreement shall be binding upon and inure to the benefit of any successors to the Company and all persons lawfully claiming under Participant.

IN WITNESS WHEREOF, this Agreement is executed by the Company and by the participant as of this [•] day of [•], [•].

CULLEN/FROST BANKERS, INC.

By: [•]

Title: [•]

PARTICIPANT

[•]

APPENDIX A

Performance Period: January 1, 2021 – December 31, 2023

Performance Measure: Relative Return On Assets

Performance Goals: Measure the Company’s achievement of Relative Return on Assets over the Performance Period as compared to the Company’s Peer Group’s achievement of Relative Return on Assets over the Performance Period, as reported in such Peer Group’s publicly-filed annual reports. For purposes of this Agreement, the Companies Peer Group shall consist of the following companies [People’s United Financial, Inc., Signature Bank, Synovus Financial Corp., TCF Financial Corporation, East West Bancorp, Inc., BOK Financial Corporation, First Citizens BancShares, Inc., F.N.B. Corporation, Wintrust Financial Corporation, Associated Banc-Corp, BankUnited, Inc., Valley National Bancorp, Sterling Bancorp, Texas Capital Bancshares, Inc., Webster Financial Corporation, Hancock Whitney Corporation, Umpqua Holdings Corporation, Pinnacle Financial Partners, Inc., PacWest Bancorp, Commerce Bancshares, Inc., Western Alliance Bancorporation, UMB Financial Corporation, Prosperity Bancshares, Inc.] If, during the Performance Period, any member of that Peer Group (i) files for bankruptcy or becomes insolvent, such member shall remain part of the peer group, or (ii) is acquired, such that it is no longer a public company, such member shall be removed from the Peer Group, effective as of the beginning of the Performance Period.

Determination of Award Vesting: Subject to Committee certification and exercise of downward discretion. Achievement between the percentiles listed below will be determined based on straight-line interpolation as determined by the Committee in its discretion. Maximum achievement equals 150%.

Level of Achievement	Award Payout Percentage
<25th Percentile	0%
25th Percentile	50%
50th Percentile	100%
75th Percentile or greater	150%

EX-10.7

Exhibit 10.7

Form of Performance Stock Unit Award Agreement

2021

CULLEN/FROST BANKERS, INC.

PERFORMANCE STOCK UNIT AGREEMENT

This Performance Stock Unit Agreement (hereinafter referred to as the “Agreement”) is made and entered into this [•] day of [•], [•] (the “Grant Date”) by and between Cullen/Frost Bankers, Inc. (hereinafter referred to as the “Company”) and [•] (hereinafter referred to as the “Participant”), pursuant to the Cullen/Frost Bankers, Inc. 2015 OMNIBUS INCENTIVE PLAN (hereinafter referred to as the “Plan”). All terms and provisions of the Plan are hereby incorporated into and shall govern the Agreement except where general provisions of the Plan are superseded by particular provisions of the Agreement. All capitalized terms used in the Agreement shall have the same meaning given the terms in the Plan.

1.Grant of Performance Stock Units. The Company hereby grants the Participant Performance Stock Units (hereinafter referred to as the “Award”) for the Performance Period commencing January 1, 2022 and ending December 31, 2024, which are subject to vesting conditions described below.

2.Vesting of Performance Stock Units. Subject to the terms of this Agreement and the Plan, the Award shall vest upon certification by the Committee of the level of achievement, if any, of the applicable goals under the Performance Measure as set forth on Appendix A hereto (the “Vesting Date”). The Award shall vest as of the Vesting Date at the level determined by the Committee, which may include the Committee’s exercise of downward discretion to adjust the actual amount of the payout of the Award, and provided that the terms and conditions of the Plan have been met and, provided, further, that the Participant remains employed at the Company on the Vesting Date (except as otherwise provided in this Agreement). As soon as practicable following the Vesting Date or such earlier vesting date as otherwise provided in this Agreement, the Award shall be promptly paid out in Shares. The number of Shares payable under the Performance Stock Unit may range from 0%-150% of award.

3.Dividend Equivalents. Prior to the vesting, expiration, or other termination of this Award, the Participant shall have the right to receive dividend equivalent payments based on the regular cash dividends paid or distributed on the Shares underlying the Shares, which dividend equivalents shall be paid accumulated during the Performance Period and only paid to the Participant in cash to the extent the underlying Award vests, which amount shall be paid less applicable tax withholdings promptly following the Vesting Date.

4.Termination of Employment. In the event that the Participant terminates employment on or after the date the Participant reaches age 65 (hereinafter referred to as “Retirement”) but prior to the Vesting Date, the Award shall continue to vest and be payable on the Vesting Date.

Except as set forth in this paragraph 4 and in paragraph 5 below, in the event that a Participant’s employment with the Company is terminated for any reason other than Retirement, prior to the Vesting Date, then the Award shall be forfeited for no consideration upon such termination of employment, unless the Committee determines otherwise in its sole discretion.

5.Change in Control. In accordance with Section 17.1(a) and (b) of the Plan, (i) upon a Change in Control, the goals under the Performance Measures set forth on Appendix A shall be determined to have been earned, as of the date of the Change of Control, at the greater of targeted performance and actual performance through such date, as determined by the Committee and the Award shall continue to be subject to time-based vesting for the remainder of the Performance Period, and (ii) the Award shall become immediately fully vested as of the effective date of Participant’s termination of employment by the Company without Cause within the twenty-four (24) month period following a Change in Control.

Notwithstanding anything in the foregoing to the contrary, if any of the payments provided for in this Agreement would constitute a “parachute payment” (as defined in Section 280G(b) (2) of the Code) (considered without regard to any other payments not provided for under this Agreement), the payments pursuant to this Agreement shall be reduced to the largest amount as will result in no portion of such

payments being subject to the excise tax imposed by Section 4999 of the Code if such reduction would provide the Participant with a greater after tax amount than if such amounts were not reduced. The determination required to be made under this paragraph 5 shall be made by the public accounting firm that is retained by the Company as of the date immediately prior to the Change in Control.

Notwithstanding any provisions to the contrary, the Board reserves the right to provide the Participant with additional benefits, including, but not limited to, providing benefits hereunder in excess of the limitations described above, which the Board determines are appropriate in its sole discretion.

6.Employment. Nothing in the Agreement shall interfere with or limit in any way the right of the Company to terminate the Participant’s employment at any time nor confer upon any Participant any right to continue in the employ of the Company.

7.Withholding Taxes. The Participant acknowledges and agrees that the Company has the right to deduct from any payments due to the Participant any Federal, state, or local taxes required by law to be withheld with respect to the Award.

8.Compliance with Securities Laws. The Participant acknowledges that the rights of the Participant to receive or transfer the Shares received upon settlement of this Award shall be subject to compliance with the requirement of federal and state securities laws, including, but not limited to, rule 144 under the Securities Act of 1933.

9.Governing Law. The Plan and this Agreement shall be construed in accordance with and governed by the laws of the State of Texas.

10.Binding Effect. This Agreement shall be binding upon and inure to the benefit of any successors to the Company and all persons lawfully claiming under Participant.

IN WITNESS WHEREOF, this Agreement is executed by the Company and by the participant as of this [•] day of [•], [•].

CULLEN/FROST BANKERS, INC.

By: [•]

Title: [•]

PARTICIPANT

[•]

APPENDIX A

Performance Period: January 1, 2022 – December 31, 2024

Performance Measure: Growth of Pre-Provision Net Revenue on a (taxable equivalent basis) [PPNR(TE)] less Net Charge Offs

Performance Goals: Measure the Company’s achievement of growth in PPNR(TE) less Net Charge Offs over the Performance Period as compared to the Company’s starting based defined as Year-end 2021 PPNR(TE) less 0.30% of Annual Average Loans and Leases. All calculations will be normalized to exclude the effect of the PPP Loans.

Example of Calculation:

	(2022 PPNR(TE) less Net Charge-offs)
plus	(2023 PPNR(TE) less Net Charge-offs)
plus	(2024 PPNR(TE) less Net Charge-offs)
	Sum of Performance Period PPNR(TE) less Net Charge-offs
Divided by	3
	Average PPNR(TE) les Net Charge-offs over the Performance Period
less	(2021 PPNR(TE) les 0.30% of Average Loans and Leases)
	Average Growth in PPNR(TE) over the Performance Period
Divided by	(2021 PPNR(TE) less 0.30% of Average Loans and Leases
	Average Percentage Growth in PPNR(TE) over the Performance Period

Determination of Award Vesting: Subject to Committee certification and exercise of downward discretion. Achievement between the percentiles listed below will be determined based on straight-line interpolation as determined by the Committee in its discretion. Maximum achievement equals 150%.

Level of Achievement	Award Payout Percentage
<13% Growth	0%
13% Growth	50%
19% Growth	100%
25% Growth or more	150%

EX-10.8

Exhibit 10.8

Form of Deferred Stock Unit Award Agreement

with Outside Directors

Cullen/Frost Bankers, Inc.

2015 OMNIBUS INCENTIVE PLAN (the "Plan")

Deferred Stock Unit Award Agreement

This Award Agreement sets forth the terms and conditions of an Award of Deferred Stock Units (“DSUs”) granted to you under the 2015 OMNIBUS INCENTIVE PLAN (the "Plan") as of [•].

1.The Plan. This Award is made pursuant to the Plan, the terms of which are incorporated in this Award Agreement. Capitalized terms used in this Award Agreement that are not defined in this Award Agreement have the meanings as used or defined in the Plan. References in this Award Agreement to any specific Plan provision shall not be construed as limiting the applicability of any other Plan provision. The Award is subject to all terms and provisions of the Plan as well as the terms and provisions of this Award Agreement.

2.Award. Subject to the terms and provisions of this Agreement and the Plan, Cullen/Frost Bankers, Inc. ("Cullen/Frost") hereby awards you as of the date hereof [•]([•]) Deferred Stock Units. A DSU is an unfunded and unsecured promise of Cullen/Frost to deliver (or cause to be delivered) to you on the Delivery Date (as defined below), one Share for each DSU. Until such delivery, you have only the rights of a general unsecured creditor and no rights as a shareholder of Cullen/Frost.

3.Delivery.

(a)In General. Except as provided below in this Paragraph 3 and under Paragraph 9 hereof, the “Delivery Date” shall be the date when you experience a separation from service with Cullen/Frost. For purposes of this Award Agreement, a “separation from service” shall have the same meaning as ascribed to such term under Section 409A and the applicable regulations thereunder, applying all default provisions thereunder.

(b)Death. If you die before the Delivery Date, the Shares underlying your then-outstanding DSUs shall be delivered to the representative of your estate as soon as practicable after the date of death and after such documentation as may be requested by the Committee is provided to the Committee.

4.Dividend Equivalent Rights. Before the delivery of Shares pursuant to this Award Agreement, at or as soon as practicable after the time of distribution of any regular cash dividend paid by Cullen/Frost in respect of the Common Stock, you shall be entitled to receive an amount in cash or other property equal to such regular cash dividend payment as would have been made in respect of the Shares underlying this Award that have not yet been delivered, as if such Shares had been actually delivered. Each Dividend Equivalent Right shall be subject to the provisions of Article 18 of the Plan.

5.Non-transferability. Except as may otherwise be provided in this paragraph or as otherwise may be provided by the Committee, the limitations set forth in Section 14.1 of the Plan shall apply to this Award. Any purported transfer or assignment in violation of the provisions of this Paragraph or of Section 14.1 of the Plan shall be void. The Committee may adopt procedures pursuant to which you may transfer some or all of your DSUs for no consideration to a person described in Section 14.2 of the Plan.

6.Successors and Assigns of Cullen/Frost. The terms and conditions of this Award Agreement shall be binding upon and shall inure to the benefit of Cullen/Frost and its successors and assigns.

7.Amendment. The Committee reserves the right at any time to amend the terms and conditions set forth in this Award Agreement in any respect in accordance with Article 3 of the Plan, and the Board may amend the Plan in any respect in accordance with Article 21 of the Plan. Notwithstanding the foregoing and Sections 21.2 and 21.4 of the Plan, no such amendment shall materially adversely affect your rights and obligations under this Award Agreement without your consent (or the consent of your estate, if such consent is obtained after your death), except that the Committee reserves the right to accelerate the delivery of the Shares, provided such acceleration would not subject you to additional tax under Section 409A. Any amendment of this Award Agreement shall be in writing signed by an authorized member of the Board or any other person or persons authorized by the Board.

8.Governing Law. THIS AWARD SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS, WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS.

9.Compliance of Award Agreement and Plan With Section 409A.

(a)     References in this Award Agreement to “Section 409A” refer to Section 409A of the Code, including any amendments or successor provisions to that Section and any regulations and other administrative guidance thereunder, in each case as they may be from time to time amended or interpreted through further administrative guidance. This Award Agreement and the Plan provisions that apply to this Award are intended and shall be construed to comply with Section 409A (including, where applicable, the requirements applicable to and the conditions for exemption from treatment as a “deferral of compensation” or “deferred compensation” as those terms are defined in the regulations under Section 409A (“409A deferred compensation”), whether by reason of short-term deferral treatment or other exceptions or provisions). The Committee shall have full authority to give effect to this intent. To the extent necessary to give effect to this intent, in the case of any conflict or potential inconsistency between the provisions of the Plan and this Award Agreement, the provisions of this Award Agreement shall govern, and in the case of any conflict or potential inconsistency between this Paragraph 9 and the other provisions of this Award Agreement, this Paragraph 9 shall govern.

(b)     Except as provided below, delivery of Shares shall be made within 90 days after the Delivery Date.

Notwithstanding the foregoing, if you are determined to be a “specified employee” upon the Delivery Date, delivery of the Shares underlying your Award shall be made on the first day of the seventh month following the Delivery Date.

(c)     Notwithstanding any provisions of this Award Agreement or the Plan to the contrary, to the extent necessary to comply with Section 409A, any securities, other Awards or other property that Cullen/Frost may deliver in respect of your DSUs shall not have the effect of deferring delivery or payment, income inclusion, or a substantial risk of forfeiture, beyond the date on which such delivery, payment or inclusion would occur or such risk of forfeiture would lapse, with respect to the Shares that would otherwise have been deliverable (unless the Committee elects a later date for this purpose in a manner otherwise consistent with Section 409A, including, to the extent applicable, the subsequent election provisions of Section 409A(a)(4)(C) of the Code and Treasury Regulations section 1.409A-2(b)).

(d)     Notwithstanding the timing provisions of Paragraph 3(b), the delivery of Shares referred to therein shall be made within 90 days after the date of death.

(e)     Notwithstanding any provision of Paragraph 4 or Article 18 of the Plan to the contrary, the Dividend Equivalent Rights with respect to each of your outstanding DSUs shall be paid to you within the calendar year in which occurs the date of distribution of any regular cash dividends paid by Cullen/Frost in respect of a Share the record date for which occurs on or after the date of grant. The payment shall be in an amount (less applicable withholding) equal to such regular dividend payment as would have been made in respect of the Shares underlying such outstanding DSUs.

(f)    Delivery of Shares in respect of this Award may be made, if and to the extent elected by the Committee, later than the Delivery Date or other date or period specified herein above (but, in the case of any Award that constitutes 409A deferred compensation, only to the extent that the later date is permitted under Section 409A).

10.Headings. The headings in this Award Agreement are for the purpose of convenience only and are not intended to define or limit the construction of the provisions hereof.

-2-

IN WITNESS WHEREOF, Cullen/Frost and you have caused this Award Agreement to be duly executed and delivered.

Date:                

                        CULLEN/FROST BANKERS, INC.

______________________________

[•], Chairman    

Accepted and Agreed:

____________________________

[•], Director

-3-

EX-31.1

Exhibit 31.1

Rule 13a-14(a) Certification

of the Corporation’s Chief Executive Officer

I, Phillip D. Green, certify that:

1.I have reviewed this Quarterly Report on Form 10-Q of Cullen/Frost Bankers, Inc.;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

July 28, 2022

/s/ Phillip D. Green

Phillip D. Green

Chief Executive Officer

EX-31.2

Exhibit 31.2

Rule 13a-14(a) Certification

of the Corporation’s Chief Financial Officer

I, Jerry Salinas, certify that:

1.I have reviewed this Quarterly Report on Form 10-Q of Cullen/Frost Bankers, Inc.;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

July 28, 2022

/s/ Jerry Salinas

Jerry Salinas

Group Executive Vice President and Chief Financial Officer

EX-32.1

Exhibit 32.1

Section 1350 Certification of the

Corporation’s Chief Executive Officer

Pursuant to Subsections (a) and (b) of Section 1350 of Chapter 63 of Title 18 of the United States Code in accordance with Section 906 of the Sarbanes-Oxley Act of 2002, the undersigned, Phillip D. Green, Chief Executive Officer, of Cullen/Frost Bankers, Inc. (the “Corporation”), hereby certifies, to his knowledge, that the Corporation’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2022 (the “Report”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Corporation.

/s/ Phillip D. Green	July 28, 2022
Phillip D. Green

The forgoing certification is being furnished solely pursuant to Subsections (a) and (b) of Section 1350 of Chapter 63 of Title 18 of the United States Code in accordance with Section 906 of the Sarbanes-Oxley Act of 2002 and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section, and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934.

EX-32.2

Exhibit 32.2

Section 1350 Certification of the

Corporation’s Chief Financial Officer

Pursuant to Subsections (a) and (b) of Section 1350 of Chapter 63 of Title 18 of the United States Code in accordance with Section 906 of the Sarbanes-Oxley Act of 2002, the undersigned, Jerry Salinas, Chief Financial Officer, of Cullen/Frost Bankers, Inc. (the “Corporation”), hereby certifies, to his knowledge, that the Corporation’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2022 (the “Report”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Corporation.

/s/ Jerry Salinas	July 28, 2022
Jerry Salinas

The forgoing certification is being furnished solely pursuant to Subsections (a) and (b) of Section 1350 of Chapter 63 of Title 18 of the United States Code in accordance with Section 906 of the Sarbanes-Oxley Act of 2002 and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section, and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934.

XML

Document and Entity Information - $ / shares	6 Months Ended
	Jun. 30, 2022	Jul. 21, 2022	Dec. 31, 2021
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-13221
Entity Registrant Name	Cullen/Frost Bankers, Inc.
Entity Incorporation, State or Country Code	TX
Entity Tax Identification Number	74-1751768
Entity Address, Address Line One	111 W. Houston Street,
Entity Address, City or Town	San Antonio,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	78205
City Area Code	(210)
Local Phone Number	220-4011
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		64,127,979
Common stock, par value	$ 0.01		$ 0.01
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000039263
Current Fiscal Year End Date	--12-31
Common Stock [Member] | NEW YORK STOCK EXCHANGE, INC. [Member]
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, $.01 Par Value
Trading Symbol	CFR
Security Exchange Name	NYSE
Series B Preferred Stock [Member] | NEW YORK STOCK EXCHANGE, INC. [Member]
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/40th interest in a share of 4.450% Non-Cumulative Perpetual Preferred Stock, Series B
Trading Symbol	CFR.PrB
Security Exchange Name	NYSE

XML

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Assets:
Cash and due from banks	$ 743,098	$ 555,778
Interest-bearing deposits	12,809,937	15,985,244
Federal funds sold	95,900	34,075
Resell agreements	9,650	7,903
Total cash and cash equivalents	13,658,585	16,583,000
Securities held to maturity, net of allowance for credit losses of $158 at June 30, 2022 and $158 at December 31, 2021	1,946,428	1,749,179
Securities available for sale, at estimated fair value	16,781,685	13,924,628
Trading account securities	24,680	25,162
Loans, net of unearned discounts	16,736,026	16,336,397
Less: Allowance for credit losses on loans	(239,632)	(248,666)
Net loans	16,496,394	16,087,731
Premises and equipment, net	1,046,495	1,050,331
Goodwill	654,952	654,952
Other intangible assets, net	589	866
Cash surrender value of life insurance policies	189,823	190,139
Accrued interest receivable and other assets	985,257	612,502
Total assets	51,784,888	50,878,490
Liabilities:
Non-interest-bearing demand deposits	18,783,931	18,423,018
Interest-bearing deposits	26,817,834	24,272,678
Total deposits	45,601,765	42,695,696
Federal funds purchased	43,200	25,925
Repurchase agreements	1,664,685	2,740,799
Junior Subordinated Notes	123,040	123,011
Subordinated notes, net of unamortized issuance costs	99,256	99,178
Accrued interest payable and other liabilities	905,967	754,326
Total liabilities	48,437,913	46,438,935
Shareholders’ Equity:
Preferred stock, par value $0.01 per share; 10,000,000 shares authorized; 150,000 Series B shares ($1,000 liquidation preference) issued at June 30, 2022 and December 31, 2021	145,452	145,452
Common stock, par value $0.01 per share; 210,000,000 shares authorized; 64,236,306 shares issued at June 30, 2022 and December 31, 2021	642	642
Additional paid-in capital	1,015,451	1,009,921
Retained earnings	3,070,109	2,956,966
Accumulated other comprehensive income (loss), net of tax	(874,206)	347,318
Treasury stock, at cost; 113,267 shares at June 30, 2022 and 250,070 shares at December 31, 2021	(10,473)	(20,744)
Total shareholders’ equity	3,346,975	4,439,555
Total liabilities and shareholders’ equity	$ 51,784,888	$ 50,878,490

XML

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Securities, held-to-maturity, allowance for credit loss	$ 158	$ 158
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	210,000,000	210,000,000
Common stock, shares issued	64,236,306	64,236,306
Treasury stock, shares	113,267	250,070
Series B Preferred Stock [Member]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	150,000	150,000
Preferred stock liquidation preference value	$ 150,000

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Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Interest income:
Loans, including fees	$ 166,679	$ 182,695	$ 316,656	$ 350,178
Securities:
Taxable	56,365	20,602	99,423	40,630
Tax-exempt	57,078	56,111	113,944	112,774
Interest-bearing deposits	26,371	3,614	32,714	6,047
Federal funds sold	99	8	112	11
Resell agreements	10	4	14	5
Total interest income	306,602	263,034	562,863	509,645
Interest expense:
Deposits	14,593	3,499	19,505	7,016
Federal funds purchased	75	7	87	15
Repurchase agreements	1,790	570	2,308	965
Junior subordinated deferrable interest debentures	772	638	1,356	1,284
Subordinated notes	1,164	1,164	2,328	2,328
Total interest expense	18,394	5,878	25,584	11,608
Net interest income	288,208	257,156	537,279	498,037
Credit loss expense	0	0	0	63
Net interest income after credit loss expense	288,208	257,156	537,279	497,974
Non-interest income:
Trust and investment management fees	37,776	37,874	76,432	73,188
Service charges on deposit accounts	23,870	19,849	46,610	39,842
Insurance commissions and fees	11,776	10,773	28,384	28,086
Interchange and card transaction fees	4,911	4,641	9,137	8,734
Other charges, commissions and fees	9,887	8,640	19,514	16,944
Net gain (loss) on securities transactions	0	0	0	0
Other	9,707	9,470	19,240	17,689
Total non-interest income	97,927	91,247	199,317	184,483
Non-interest expense:
Salaries and wages	116,881	97,035	228,210	190,493
Employee benefits	20,733	18,728	44,953	41,264
Net occupancy	28,379	26,650	55,790	52,701
Technology, furniture and equipment	29,921	27,998	59,078	56,014
Deposit insurance	3,724	2,877	7,357	5,805
Intangible amortization	131	185	277	387
Other	46,578	41,781	89,414	78,732
Total non-interest expense	246,347	215,254	485,079	425,396
Income before income taxes	139,788	133,149	251,517	257,061
Income taxes	20,674	15,081	33,301	22,978
Net income	119,114	118,068	218,216	234,083
Preferred stock dividends	1,669	1,669	3,338	3,820
Net income available to common shareholders	$ 117,445	$ 116,399	$ 214,878	$ 230,263
Earnings per common share:
Basic	$ 1.82	$ 1.81	$ 3.32	$ 3.59
Diluted	$ 1.81	$ 1.80	$ 3.31	$ 3.57

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Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Net income	$ 119,114	$ 118,068	$ 218,216	$ 234,083
Other comprehensive income (loss), before tax:
Change in net unrealized gain/loss on securities available for sale during the period	(636,523)	30,668	(1,547,318)	(129,111)
Change in net unrealized gain on securities transferred to held to maturity	(189)	(245)	(398)	(504)
Reclassification adjustment for net (gains) losses included in net income	0	0	0	0
Total securities available for sale and transferred securities, before tax amount	(636,712)	30,423	(1,547,716)	(129,615)
Defined-benefit post-retirement benefit plans:
Reclassification adjustment for net amortization of actuarial gain/loss included in net income as a component of net periodic cost (benefit)	741	1,529	1,482	3,058
Total defined-benefit post-retirement benefit plans	741	1,529	1,482	3,058
Other comprehensive income (loss), before tax	(635,971)	31,952	(1,546,234)	(126,557)
Deferred tax expense (benefit)	(133,555)	6,710	(324,710)	(26,577)
Other comprehensive income (loss), net of tax	(502,416)	25,242	(1,221,524)	(99,980)
Comprehensive income (loss)	$ (383,302)	$ 143,310	$ (1,003,308)	$ 134,103

XML

Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock [Member]
Total shareholders’ equity at beginning of period at Dec. 31, 2020	$ 4,293,016	$ 145,452	$ 642	$ 997,168	$ 2,750,723	$ 512,970	$ (113,939)
Net income	234,083				234,083
Other comprehensive income (loss)	(99,980)					(99,980)
Stock option exercises/stock unit conversions (28,832 shares QTD and 144,262 shares YTD in 2022 and 114,252 shares QTD and 628,076 shares YTD in 2021)	36,682				(25,567)		62,249
Stock compensation expense recognized in earnings	5,771			5,771
Purchase of treasury stock (7,459 shares YTD in 2022 and 11,625 shares YTD in 2021)	(1,288)						(1,288)
Treasury stock issued to the 401(k) stock purchase plan (18,555 shares YTD in 2021 )	1,749				(57)		1,806
Cash dividends – preferred stock (approximately $11.13 and $22.25 per share which is equivalent to approximately $0.28 and $0.56 per depository share QTD and YTD in 2022, respectively and $11.13 and $25.46 per share which is equivalent to approximately $0.28 and $0.64 per depository share QTD and YTD in 2021, respectively)	(3,820)				(3,820)
Cash dividends – common stock ($0.75 per share QTD and $1.50 per share YTD in 2022 and $0.72 per share QTD and $1.44 per share YTD in 2021)	(92,396)				(92,396)
Total shareholders’ equity at end of period at Jun. 30, 2021	4,373,817	145,452	642	1,002,939	2,862,966	412,990	(51,172)
Total shareholders’ equity at beginning of period at Mar. 31, 2021	4,267,918	145,452	642	999,694	2,797,064	387,748	(62,682)
Net income	118,068				118,068
Other comprehensive income (loss)	25,242					25,242
Stock option exercises/stock unit conversions (28,832 shares QTD and 144,262 shares YTD in 2022 and 114,252 shares QTD and 628,076 shares YTD in 2021)	7,285				(4,225)		11,510
Stock compensation expense recognized in earnings	3,245			3,245
Cash dividends – preferred stock (approximately $11.13 and $22.25 per share which is equivalent to approximately $0.28 and $0.56 per depository share QTD and YTD in 2022, respectively and $11.13 and $25.46 per share which is equivalent to approximately $0.28 and $0.64 per depository share QTD and YTD in 2021, respectively)	(1,669)				(1,669)
Cash dividends – common stock ($0.75 per share QTD and $1.50 per share YTD in 2022 and $0.72 per share QTD and $1.44 per share YTD in 2021)	(46,272)				(46,272)
Total shareholders’ equity at end of period at Jun. 30, 2021	4,373,817	145,452	642	1,002,939	2,862,966	412,990	(51,172)
Total shareholders’ equity at beginning of period at Dec. 31, 2021	4,439,555	145,452	642	1,009,921	2,956,966	347,318	(20,744)
Net income	218,216				218,216
Other comprehensive income (loss)	(1,221,524)					(1,221,524)
Stock option exercises/stock unit conversions (28,832 shares QTD and 144,262 shares YTD in 2022 and 114,252 shares QTD and 628,076 shares YTD in 2021)	6,490				(4,777)		11,267
Stock compensation expense recognized in earnings	5,530			5,530
Purchase of treasury stock (7,459 shares YTD in 2022 and 11,625 shares YTD in 2021)	(996)						(996)
Treasury stock issued to the 401(k) stock purchase plan (18,555 shares YTD in 2021 )	0
Cash dividends – preferred stock (approximately $11.13 and $22.25 per share which is equivalent to approximately $0.28 and $0.56 per depository share QTD and YTD in 2022, respectively and $11.13 and $25.46 per share which is equivalent to approximately $0.28 and $0.64 per depository share QTD and YTD in 2021, respectively)	(3,338)				(3,338)
Cash dividends – common stock ($0.75 per share QTD and $1.50 per share YTD in 2022 and $0.72 per share QTD and $1.44 per share YTD in 2021)	(96,958)				(96,958)
Total shareholders’ equity at end of period at Jun. 30, 2022	3,346,975	145,452	642	1,015,451	3,070,109	(874,206)	(10,473)
Total shareholders’ equity at beginning of period at Mar. 31, 2022	3,776,292	145,452	642	1,012,033	3,002,642	(371,790)	(12,687)
Net income	119,114				119,114
Other comprehensive income (loss)	(502,416)					(502,416)
Stock option exercises/stock unit conversions (28,832 shares QTD and 144,262 shares YTD in 2022 and 114,252 shares QTD and 628,076 shares YTD in 2021)	751				(1,463)		2,214
Stock compensation expense recognized in earnings	3,418			3,418
Cash dividends – preferred stock (approximately $11.13 and $22.25 per share which is equivalent to approximately $0.28 and $0.56 per depository share QTD and YTD in 2022, respectively and $11.13 and $25.46 per share which is equivalent to approximately $0.28 and $0.64 per depository share QTD and YTD in 2021, respectively)	(1,669)				(1,669)
Cash dividends – common stock ($0.75 per share QTD and $1.50 per share YTD in 2022 and $0.72 per share QTD and $1.44 per share YTD in 2021)	(48,515)				(48,515)
Total shareholders’ equity at end of period at Jun. 30, 2022	$ 3,346,975	$ 145,452	$ 642	$ 1,015,451	$ 3,070,109	$ (874,206)	$ (10,473)

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Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Stockholders' Equity [Abstract]
Stock option exercise/stock unit conversions (28,832 shares QTD and 144,262 shares YTD in 2022 and 114,252 shares QTD and 628,076 shares YTD during 2021)	28,832	114,252	144,262	628,076
Purchase of treasury stock (7,459 shares YTD in 2022 and 11,625 shares YTD in 2021)			7,459	11,625
Treasury stock issued to the 401(k) stock purchase plan (18,555 shares YTD in 2021 )				18,555
Cash dividend - preferred stock (Approximately $11.13 and $22.25 per share QTD and YTD in 2022, respectively and $11.13 and $25.46 per share QTD and YTD during 2021, respectively)	$ 11.13	$ 11.13	$ 22.25	$ 25.46
Cash dividend - Preferred Stock Dividends equivalent Per depositary Share Declared ($0.28 and $0.56 QTD and YTD respectively, during 2022 and $0.28 and 0.64 QTD and YTD, respectively during 2021)	0.28	0.28	0.56	0.64
Cash dividends - common stock ($0.75 per share QTD and $1.50 per share YTD in 2022 and $0.72 per share QTD and $1.44 per share YTD in 2021)	$ 0.75	$ 0.72	$ 1.50	$ 1.44

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Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating Activities:
Net income	$ 218,216	$ 234,083
Adjustments to reconcile net income to net cash from operating activities:
Credit loss expense	0	63
Deferred tax expense (benefit)	(2,404)	5,188
Accretion of loan discounts	(6,581)	(6,577)
Securities premium amortization (discount accretion), net	53,225	60,434
Net (gain) loss on securities transactions	0	0
Depreciation and amortization	35,406	34,060
Net (gain) loss on sale/write-down of assets/foreclosed assets	103	(1,876)
Stock-based compensation	5,530	5,771
Net tax benefit from stock-based compensation	1,645	4,218
Earnings on life insurance policies	(1,016)	(1,343)
Net change in:
Trading account securities	482	319
Lease right-of-use assets	12,042	11,697
Accrued interest receivable and other assets	(135,239)	(39,195)
Accrued interest payable and other liabilities	113,645	41,748
Net cash from operating activities	295,054	348,590
Investing Activities:
Securities held-to-maturity - Purchases	(411,527)	0
Securities held to maturity: Maturities, calls and principal repayments	263,226	122,416
Securities available for sale:
Purchases	(4,778,475)	(801,167)
Sales	0	0
Maturities, calls and principal repayments	382,152	576,763
Proceeds from sale of loans	2,365	0
Net change in loans	(404,515)	884,799
Benefits received on life insurance policies	1,332	1,509
Proceeds from sales of premises and equipment	18	6,436
Purchases of premises and equipment	(28,016)	(28,053)
Proceeds from sales of repossessed properties	1,543	100
Net cash from investing activities	(4,971,897)	762,803
Financing Activities:
Net change in deposits	2,906,069	3,718,379
Net change in short-term borrowings	(1,058,839)	126,592
Proceeds from stock option exercises	6,490	36,682
Purchase of treasury stock	(996)	(1,288)
Cash dividends paid on preferred stock	(3,338)	(3,820)
Cash dividends paid on common stock	(96,958)	(92,396)
Net cash from financing activities	1,752,428	3,784,149
Net change in cash and cash equivalents	(2,924,415)	4,895,542
Cash and cash equivalents at beginning of period	16,583,000	10,288,853
Cash and cash equivalents at end of period	$ 13,658,585	$ 15,184,395

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Significant Accounting Policies

6 Months Ended

Jun. 30, 2022

Accounting Policies [Abstract]

Significant Accounting Policies

Significant Accounting Policies

Nature of Operations. Cullen/Frost Bankers, Inc. (“Cullen/Frost”) is a financial holding company and a bank holding company headquartered in San Antonio, Texas that provides, through its subsidiaries, a broad array of products and services throughout numerous Texas markets. The terms “Cullen/Frost,” “the Corporation,” “we,” “us” and “our” mean Cullen/Frost Bankers, Inc. and its subsidiaries, when appropriate. In addition to general commercial and consumer banking, other products and services offered include trust and investment management, insurance, brokerage, mutual funds, leasing, treasury management, capital markets advisory and item processing.

Basis of Presentation. The consolidated financial statements in this Quarterly Report on Form 10-Q include the accounts of Cullen/Frost and all other entities in which Cullen/Frost has a controlling financial interest. All significant intercompany balances and transactions have been eliminated in consolidation. The accounting and financial reporting policies we follow conform, in all material respects, to accounting principles generally accepted in the United States and to general practices within the financial services industry.

The consolidated financial statements in this Quarterly Report on Form 10-Q have not been audited by an independent registered public accounting firm, but in the opinion of management, reflect all adjustments necessary for a fair presentation of our financial position and results of operations. All such adjustments were of a normal and recurring nature. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q adopted by the Securities and Exchange Commission (“SEC”). Accordingly, the financial statements do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements and should be read in conjunction with our consolidated financial statements, and notes thereto, for the year ended December 31, 2021, included in our Annual Report on Form 10-K filed with the SEC on February 4, 2022 (the “2021 Form 10-K”). Operating results for the interim periods disclosed herein are not necessarily indicative of the results that may be expected for a full year or any future period.

Use of Estimates. The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates. The allowance for loan losses and the fair values of financial instruments and the status of contingencies are particularly subject to change.

Cash Flow Reporting. Additional cash flow information was as follows:

	Six Months Ended June 30,
	2022		2021
Cash paid for interest	$	22,551	$	15,936
Cash paid for income taxes	45,500		15,400
Significant non-cash transactions:
Unsettled securities transactions	110,623		358,752
Loans foreclosed and transferred to other real estate owned and foreclosed assets	—		3,251
Right-of-use lease assets obtained in exchange for lessee operating lease liabilities	8,857		1,552
Treasury stock issued to 401(k) stock purchase plan	—		1,749

Accounting Changes, Reclassifications and Restatements. Certain items in prior financial statements have been reclassified to conform to the current presentation.

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Securities

6 Months Ended

Jun. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Securities

Securities

Securities - Held to Maturity. A summary of the amortized cost, fair value and allowance for credit losses related to securities held to maturity as of June 30, 2022 and December 31, 2021 is presented below.

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value		Allowance for Credit Losses		Net Carrying Amount
June 30, 2022
Residential mortgage-backed securities	$	526,675	$	—	$	40,383	$	486,292	$	—	$	526,675
States and political subdivisions	1,418,411		3,956		81,583		1,340,784		(158)		1,418,253
Other	1,500		—		61		1,439		—		1,500
Total	$	1,946,586	$	3,956	$	122,027	$	1,828,515	$	(158)	$	1,946,428
December 31, 2021
Residential mortgage-backed securities	$	527,264	$	18,766	$	—	$	546,030	$	—	$	527,264
States and political subdivisions	1,220,573		41,141		101		1,261,613		(158)		1,220,415
Other	1,500		—		—		1,500		—		1,500
Total	$	1,749,337	$	59,907	$	101	$	1,809,143	$	(158)	$	1,749,179

All mortgage-backed securities included in the above table were issued by U.S. government agencies and corporations. The carrying value of held-to-maturity securities pledged to secure public funds, trust deposits, repurchase agreements and for other purposes, as required or permitted by law was $245.5 million and $642.3 million at June 30, 2022 and December 31, 2021, respectively. Accrued interest receivable on held-to-maturity securities totaled $18.0 million and $18.4 million at June 30, 2022 and December 31, 2021, respectively and is included in accrued interest receivable and other assets in the accompanying consolidated balance sheets.

From time to time, we have reclassified certain securities from available for sale to held to maturity. The net unamortized, unrealized gain remaining on transferred securities included in accumulated other comprehensive income in the accompanying balance sheet totaled $2.1 million ($1.7 million, net of tax) at June 30, 2022 and $2.5 million ($2.0 million, net of tax) at December 31, 2021. This amount will be amortized out of accumulated other comprehensive income over the remaining life of the underlying securities as an adjustment of the yield on those securities.

The following table summarizes Moody's and/or Standard & Poor's bond ratings for our portfolio of held-to-maturity securities issued by States and political subdivisions and other securities as of June 30, 2022 and December 31, 2021:

	States and Political Subdivisions
	Not Guaranteed or Pre-Refunded		Guaranteed by the Texas PSF		Pre-Refunded		Total		Other Securities
June 30, 2022
Aaa/AAA	$	161,274	$	764,405	$	344,335	$	1,270,014	$	—
Aa/AA	148,397		—		—		148,397		—
Not rated	—		—		—		—		1,500
Total	$	309,671	$	764,405	$	344,335	$	1,418,411	$	1,500
December 31, 2021
Aaa/AAA	$	92,379	$	460,648	$	563,251	$	1,116,278	$	—
Aa/AA	104,295		—		—		104,295		—
Not rated	—		—		—		—		1,500
Total	$	196,674	$	460,648	$	563,251	$	1,220,573	$	1,500

The following table details activity in the allowance for credit losses on held-to-maturity securities during the three and six months ended June 30, 2022 and 2021.

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Beginning balance	$	158	$	158	$	158	$	160
Credit loss expense (benefit)	—		—		—		(2)
Ending balance	$	158	$	158	$	158	$	158

Securities - Available for Sale. A summary of the amortized cost, fair value and allowance for credit losses related to securities available for sale as of June 30, 2022 and December 31, 2021 is presented below.

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Estimated Fair Value
June 30, 2022
U.S. Treasury	$	4,656,896	$	2,093	$	242,690	$	—	$	4,416,299
Residential mortgage-backed securities	5,967,803		3,443		635,521		—		5,335,725
States and political subdivisions	7,183,199		50,465		246,368		—		6,987,296
Other	42,365		—		—		—		42,365
Total	$	17,850,263	$	56,001	$	1,124,579	$	—	$	16,781,685
December 31, 2021
U.S. Treasury	$	2,165,702	$	23,333	$	9,602	$	—	$	2,179,433
Residential mortgage-backed securities	4,059,692		31,662		25,089		—		4,066,265
States and political subdivisions	7,178,135		463,810		5,374		—		7,636,571
Other	42,359		—		—		—		42,359
Total	$	13,445,888	$	518,805	$	40,065	$	—	$	13,924,628

All mortgage-backed securities included in the above table were issued by U.S. government agencies and corporations. At June 30, 2022, all of the securities in our available for sale municipal bond portfolio were issued by the State of Texas or political subdivisions or agencies within the State of Texas, of which approximately 75.3% are either guaranteed by the PSF or have been pre-refunded. Securities with limited marketability, such as stock in the Federal Reserve Bank and the Federal Home Loan Bank, are carried at cost and are reported as other available for sale securities in the table above. The carrying value of available-for-sale securities pledged to secure public funds, trust deposits, repurchase agreements and for other purposes, as required or permitted by law was $4.4 billion and $5.8 billion at June 30, 2022 and December 31, 2021, respectively. Accrued interest receivable on available-for-sale securities totaled $131.3 million and $120.5 million at June 30, 2022 and December 31, 2021, respectively, and is included in accrued interest receivable and other assets in the accompanying consolidated balance sheets.

The table below summarizes, as of June 30, 2022, securities available for sale in an unrealized loss position for which an allowance for credit losses has not been recorded, aggregated by type of security and length of time in a continuous unrealized loss position.

	Less than 12 Months				More than 12 Months				Total
	Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses
U.S. Treasury	$	4,224,018	$	242,690	$	—	$	—	$	4,224,018	$	242,690
Residential mortgage-backed securities	4,825,871		568,405		369,098		67,116		5,194,969		635,521
States and political subdivisions	3,249,625		241,884		13,824		4,484		3,263,449		246,368
Total	$	12,299,514	$	1,052,979	$	382,922	$	71,600	$	12,682,436	$	1,124,579

As of June 30, 2022, no allowance for credit losses has been recognized on available for sale securities in an unrealized loss position as management does not believe any of the securities are impaired due to reasons of credit quality. This is based upon our analysis of the underlying risk characteristics, including credit ratings, and other qualitative factors related to our available for sale securities and in consideration of our historical credit loss experience and internal forecasts. The issuers of these securities continue to make timely principal and interest payments under the contractual terms of the securities. Furthermore, management does not have the intent to sell any of the securities classified as available for sale in the table above and believes that it is more likely than not that we will not have to sell any such securities before a recovery of cost. The unrealized losses

are due to increases in market interest rates over the yields available at the time the underlying securities were purchased. The fair value is expected to recover as the securities approach their maturity date or repricing date or if market yields for such investments decline.

Contractual Maturities. The following table summarizes the maturity distribution schedule of securities held to maturity and securities available for sale as of June 30, 2022. Mortgage-backed securities are included in maturity categories based on their stated maturity date. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Other securities classified as available for sale include stock in the Federal Reserve Bank and the Federal Home Loan Bank, which have no maturity date. These securities have been included in the total column only.

	Within 1 Year		1 - 5 Years		5 - 10 Years		After 10 Years		Total
Held To Maturity
Amortized Cost
Residential mortgage-backed securities	$	3	$	—	$	514,582	$	12,090	$	526,675
States and political subdivisions	350,365		84,053		22,102		961,891		1,418,411
Other	—		1,500		—		—		1,500
Total	$	350,368	$	85,553	$	536,684	$	973,981	$	1,946,586
Estimated Fair Value
Residential mortgage-backed securities	$	3	$	—	$	475,721	$	10,568	$	486,292
States and political subdivisions	351,237		84,787		22,166		882,594		1,340,784
Other	—		1,439		—		—		1,439
Total	$	351,240	$	86,226	$	497,887	$	893,162	$	1,828,515
Available For Sale
Amortized Cost
U. S. Treasury	$	—	$	3,031,706	$	1,433,320	$	191,870	$	4,656,896
Residential mortgage-backed securities	55		11,080		18,743		5,937,925		5,967,803
States and political subdivisions	207,078		1,546,995		902,953		4,526,173		7,183,199
Other	—		—		—		—		42,365
Total	$	207,133	$	4,589,781	$	2,355,016	$	10,655,968	$	17,850,263
Estimated Fair Value
U. S. Treasury	$	—	$	2,957,018	$	1,301,539	$	157,742	$	4,416,299
Residential mortgage-backed securities	55		11,231		18,792		5,305,647		5,335,725
States and political subdivisions	209,138		1,579,097		893,132		4,305,929		6,987,296
Other	—		—		—		—		42,365
Total	$	209,193	$	4,547,346	$	2,213,463	$	9,769,318	$	16,781,685

Sales of Securities. No held to maturity or available for sale securities were sold during the three or six months ended June 30, 2022 or 2021.

Premiums and Discounts. Premium amortization and discount accretion included in interest income on securities was as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Premium amortization	$	(28,053)	$	(30,541)	$	(57,113)	$	(61,776)
Discount accretion	2,482		705		3,888		1,342
Net (premium amortization) discount accretion	$	(25,571)	$	(29,836)	$	(53,225)	$	(60,434)

Trading Account Securities. Trading account securities, at estimated fair value, were as follows:

	June 30, 2022		December 31, 2021
U.S. Treasury	$	24,615	$	24,237
States and political subdivisions	65		925
Total	$	24,680	$	25,162

Net gains and losses on trading account securities were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Net gain on sales transactions	$	1,012	$	293	$	1,352	$	402
Net mark-to-market gains (losses)	(76)		—		(244)		(69)
Net gain (loss) on trading account securities	$	936	$	293	$	1,108	$	333

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Loans

6 Months Ended

Jun. 30, 2022

Receivables [Abstract]

Loans

Loans

Loans were as follows:

	June 30, 2022		December 31, 2021
Commercial and industrial	$	5,539,277	$	5,364,954
Energy:
Production	762,625		878,436
Service	121,356		105,901
Other	103,944		93,455
Total energy	987,925		1,077,792
Paycheck Protection Program	91,919		428,882
Commercial real estate:
Commercial mortgages	6,041,606		5,867,062
Construction	1,535,808		1,304,271
Land	478,674		405,277
Total commercial real estate	8,056,088		7,576,610
Consumer real estate:
Home equity loans	352,633		324,157
Home equity lines of credit	603,907		519,098
Other	604,495		567,535
Total consumer real estate	1,561,035		1,410,790
Total real estate	9,617,123		8,987,400
Consumer and other	499,782		477,369
Total loans	$	16,736,026	$	16,336,397

Concentrations of Credit. Most of our lending activity occurs within the State of Texas, including the four largest metropolitan areas of Austin, Dallas/Ft. Worth, Houston and San Antonio, as well as other markets. The majority of our loan portfolio consists of commercial and industrial and commercial real estate loans. As of June 30, 2022, there were no concentrations of loans related to any single industry in excess of 10% of total loans. The largest industry concentration was related to the energy industry, which totaled 5.9% of total loans (also 5.9% excluding PPP loans). Unfunded commitments to extend credit and standby letters of credit issued to customers in the energy industry totaled $887.3 million and $79.1 million, respectively, as of June 30, 2022.

Foreign Loans. We have U.S. dollar denominated loans and commitments to borrowers in Mexico. The outstanding balance of these loans and the unfunded amounts available under these commitments were not significant at June 30, 2022 or December 31, 2021.

Related Party Loans. In the ordinary course of business, we have granted loans to certain directors, executive officers and their affiliates (collectively referred to as “related parties”). Such loans totaled $342.5 million at June 30, 2022 and $350.5 million at December 31, 2021.

Accrued Interest Receivable. Accrued interest receivable on loans totaled $44.8 million and $40.0 million at June 30, 2022 and December 31, 2021, respectively and is included in accrued interest receivable and other assets in the accompany consolidated balance sheets.

Non-Accrual and Past Due Loans. Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. Loans are placed on non-accrual status when, in management’s opinion, the borrower may be unable to meet payment obligations as they become due, as well as when required by regulatory provisions.

Non-accrual loans, segregated by class of loans, were as follows:

	June 30, 2022				December 31, 2021
	Total Non-Accrual		Non-Accrual with No Credit Loss Allowance		Total Non-Accrual		Non-Accrual with No Credit Loss Allowance
Commercial and industrial	$	11,170	$	3,093	$	22,582	$	4,701
Energy	11,114		6,442		14,433		8,533
Paycheck Protection Program	—		—		—		—
Commercial real estate:
Buildings, land and other	11,806		6,419		15,297		13,817
Construction	—		—		948		—
Consumer real estate	1,035		732		440		138
Consumer and other	—		—		13		13
Total	$	35,125	$	16,686	$	53,713	$	27,202

The following table presents non-accrual loans as of June 30, 2022 by class and year of origination.

	2022		2021		2020		2019		2018		Prior		Revolving Loans		Revolving Loans Converted to Term		Total
Commercial and industrial	$	—	$	98	$	3,520	$	3,507	$	1,491	$	653	$	108	$	1,793	$	11,170
Energy	5,779		—		—		—		21		—		5,127		187		11,114
Paycheck Protection Program	—		—		—		—		—		—		—		—		—
Commercial real estate:
Buildings, land and other	1,116		7,556		—		229		313		2,592		—		—		11,806
Construction	—		—		—		—		—		—		—		—		—
Consumer real estate	—		—		—		—		—		380		—		655		1,035
Consumer and other	—		—		—		—		—		—		—		—		—
Total	$	6,895	$	7,654	$	3,520	$	3,736	$	1,825	$	3,625	$	5,235	$	2,635	$	35,125

Had non-accrual loans performed in accordance with their original contract terms, we would have recognized additional interest income, net of tax, of approximately $436 thousand and $843 thousand for the three and six months ended June 30, 2022, respectively, and approximately $427 thousand and $881 thousand for the three and six months ended June 30, 2021, respectively.

An age analysis of past due loans (including both accruing and non-accruing loans), segregated by class of loans, as of June 30, 2022 was as follows:

	Loans 30-89 Days Past Due		Loans 90 or More Days Past Due		Total Past Due Loans		Current Loans		Total Loans		Accruing Loans 90 or More Days Past Due
Commercial and industrial	$	14,529	$	3,993	$	18,522	$	5,520,755	$	5,539,277	$	3,280
Energy	200		3,275		3,475		984,450		987,925		—
Paycheck Protection Program	5,919		5,063		10,982		80,937		91,919		5,063
Commercial real estate:
Buildings, land and other	17,852		7,441		25,293		6,494,987		6,520,280		781
Construction	832		—		832		1,534,976		1,535,808		—
Consumer real estate	6,921		1,268		8,189		1,552,846		1,561,035		903
Consumer and other	4,443		598		5,041		494,741		499,782		598
Total	$	50,696	$	21,638	$	72,334	$	16,663,692	$	16,736,026	$	10,625

Troubled Debt Restructurings. Troubled debt restructurings during the six months ended June 30, 2022 and 2021 are set forth in the following table.

	Six Months Ended June 30, 2022				Six Months Ended June 30, 2021
	Balance at Restructure		Balance at Period-End		Balance at Restructure		Balance at Period-End
Energy	$	—	$	—	$	3,817	$	3,817
Commercial real estate:
Buildings, land and other	1,155		1,116		582		579
	$	1,155	$	1,116	$	4,399	$	4,396

Loan modifications are typically related to extending amortization periods, converting loans to interest only for a limited period of time, deferral of interest payments, waiver of certain covenants, consolidating notes and/or reducing collateral or interest rates. The modifications during the reported periods did not significantly impact our determination of the allowance for credit losses on loans.

Information as of or for the six months ended June 30, 2022 and 2021 related to loans restructured during the preceding twelve months is set forth in the following table.

	June 30, 2022		June 30, 2021
Restructured loans past due in excess of 90 days at period-end:
Number of loans	—		1
Dollar amount of loans	$	—	$	1,322
Restructured loans on non-accrual status at period end	1,116		4,090
Charge-offs of restructured loans:
Recognized in connection with restructuring	—		—
Recognized on previously restructured loans	723		—
Proceeds from sale of restructured loans	1,070		—

Credit Quality Indicators. As part of the on-going monitoring of the credit quality of our loan portfolio, management tracks certain credit quality indicators including trends related to (i) the weighted-average risk grade of commercial loans, (ii) the level of classified commercial loans, (iii) the delinquency status of consumer loans, (iv) non-performing loans (see details above) and (v) the general economic conditions in the State of Texas.

We utilize a risk grading matrix to assign a risk grade to each of our commercial loans. Loans are graded on a scale of 1 to 14. A description of the general characteristics of the 14 risk grades is set forth in our 2021 Form 10-K. We monitor portfolio credit quality by the weighted-average risk grade of each class of commercial loan. Individual relationship managers, under the oversight of credit administration, review updated financial information for all pass grade loans to reassess the risk grade on at least an annual basis. When a loan has a risk grade of 9, it is still considered a pass grade loan; however, it is considered to be on management’s “watch list,” where a significant risk-modifying action is anticipated in the near term. When a loan has a risk grade of 10 or higher, a special assets officer monitors the loan on an on-going basis.

The following tables present weighted-average risk grades for all commercial loans, by class and year of origination/renewal as of June 30, 2022. Paycheck Protection Program (“PPP”) loans are excluded as such loans are fully guaranteed by the Small Business Administration (“SBA”).

	2022		2021		2020		2019		2018		Prior		Revolving Loans		Revolving Loans Converted to Term		Total		W/A Risk Grade
Commercial and industrial
Risk grades 1-8	$	1,009,520	$	805,675	$	563,122	$	267,129	$	142,114	$	221,192	$	2,213,761	$	54,235	$	5,276,748	6.23
Risk grade 9	12,633		21,474		6,914		9,067		20,961		8,682		79,546		5,662		164,939		9.00
Risk grade 10	5,000		23,293		2,437		705		1,808		255		20,879		2,093		56,470		10.00
Risk grade 11	—		1,651		6,280		9,490		1,556		2,027		4,100		4,846		29,950		11.00
Risk grade 12	—		98		2,569		3,106		1,427		251		108		747		8,306		12.00
Risk grade 13	—		—		951		401		64		402		—		1,046		2,864		13.00
	$	1,027,153	$	852,191	$	582,273	$	289,898	$	167,930	$	232,809	$	2,318,394	$	68,629	$	5,539,277	6.38
W/A risk grade	6.28		7.03		6.10		6.75		7.01		5.79		6.20		7.52		6.38
Energy
Risk grades 1-8	$	312,271	$	111,163	$	6,939	$	6,332	$	3,564	$	5,239	$	446,460	$	49,185	$	941,153	5.57
Risk grade 9	1,660		95		268		1,192		26		—		10,955		39		14,235		9.00
Risk grade 10	—		—		73		515		239		—		—		58		885		10.00
Risk grade 11	9,097		221		541		4,630		885		164		5,000		—		20,538		11.00
Risk grade 12	3,463		—		—		—		21		—		2,771		187		6,442		12.00
Risk grade 13	2,316		—		—		—		—		—		2,356		—		4,672		13.00
	$	328,807	$	111,479	$	7,821	$	12,669	$	4,735	$	5,403	$	467,542	$	49,469	$	987,925	5.82
W/A risk grade	6.09		5.66		7.69		8.63		8.30		7.17		5.46		6.25		5.82
Commercial real estate:
Buildings, land, other
Risk grades 1-8	$	1,101,851	$	1,495,414	$	999,836	$	788,421	$	428,539	$	963,918	$	84,964	$	106,450	$	5,969,393	6.90
Risk grade 9	64,026		27,271		99,934		47,898		20,773		35,908		7,412		2,848		306,070		9.00
Risk grade 10	5,851		17,824		17,104		52,210		20,353		53,622		3,500		—		170,464		10.00
Risk grade 11	162		434		1,269		7,189		8,969		44,318		206		—		62,547		11.00
Risk grade 12	646		6,545		—		229		313		2,592		—		—		10,325		12.00
Risk grade 13	470		1,011		—		—		—		—		—		—		1,481		13.00
	$	1,173,006	$	1,548,499	$	1,118,143	$	895,947	$	478,947	$	1,100,358	$	96,082	$	109,298	$	6,520,280	7.12
W/A risk grade	7.01		7.23		7.16		7.25		7.28		6.95		7.24		6.44		7.12
Construction
Risk grades 1-8	$	276,072	$	662,364	$	179,896	$	100,915	$	631	$	1,804	$	253,781	$	4,247	$	1,479,710	6.86
Risk grade 9	11,295		637		2,670		—		—		401		—		—		15,003		9.00
Risk grade 10	27,992		—		—		13,103		—		—		—		—		41,095		10.00
Risk grade 11	—		—		—		—		—		—		—		—		—		11.00
Risk grade 12	—		—		—		—		—		—		—		—		—		12.00
Risk grade 13	—		—		—		—		—		—		—		—		—		13.00
	$	315,359	$	663,001	$	182,566	$	114,018	$	631	$	2,205	$	253,781	$	4,247	$	1,535,808	6.96
W/A risk grade	7.10		7.12		6.64		8.21		6.21		7.16		6.10		5.01		6.96
Total commercial real estate	$	1,488,365	$	2,211,500	$	1,300,709	$	1,009,965	$	479,578	$	1,102,563	$	349,863	$	113,545	$	8,056,088	7.09
W/A risk grade	7.03		7.19		7.09		7.36		7.28		6.95		6.41		6.39		7.09

In the table above, certain energy and commercial real estate loans are reported as 2022 originations and have risk grades of 11 or higher. These loans were, for the most part, first originated in various years prior to 2022 but were renewed in the current year.

The following tables present weighted average risk grades for all commercial loans by class as of December 31, 2021. Refer to our 2021 Form 10-K for details of these loans by year of origination/renewal.

	Commercial and Industrial			Energy			Commercial Real Estate - Buildings, Land and Other			Commercial Real Estate - Construction			Total Commercial Real Estate
	W/A Risk Grade	Loans		W/A Risk Grade	Loans		W/A Risk Grade	Loans		W/A Risk Grade	Loans		W/A Risk Grade	Loans
Risk grades 1-8	6.01	$	5,063,847	5.78	$	1,008,370	6.91	$	5,574,922	6.99	$	1,262,200	6.92	$	6,837,122
Risk grade 9	9.00	187,870		9.00	36,622		9.00	321,533		9.00	41,123		9.00	362,656
Risk grade 10	10.00	59,137		10.00	1,773		10.00	269,447		10.00	—		10.00	269,447
Risk grade 11	11.00	31,518		11.00	16,594		11.00	91,140		11.00	—		11.00	91,140
Risk grade 12	12.00	12,535		12.00	8,953		12.00	15,097		12.00	748		12.00	15,845
Risk grade 13	13.00	10,047		13.00	5,480		13.00	200		13.00	200		13.00	400
Total	6.22	$	5,364,954	6.06	$	1,077,792	7.22	$	6,272,339	7.06	$	1,304,271	7.19	$	7,576,610

Information about the payment status of consumer loans, segregated by portfolio segment and year of origination, as of June 30, 2022 was as follows:

	2022		2021		2020		2019		2018		Prior		Revolving Loans		Revolving Loans Converted to Term		Total
Consumer real estate:
Past due 30-89 days	$	140	$	287	$	387	$	668	$	401	$	2,771	$	602	$	1,665	$	6,921
Past due 90 or more days	—		—		—		4		142		875		247		—		1,268
Total past due	140		287		387		672		543		3,646		849		1,665		8,189
Current loans	154,178		324,089		211,133		80,351		43,828		137,836		592,539		8,892		1,552,846
Total	$	154,318	$	324,376	$	211,520	$	81,023	$	44,371	$	141,482	$	593,388	$	10,557	$	1,561,035
Consumer and other:
Past due 30-89 days	$	1,974	$	69	$	64	$	44	$	5	$	45	$	32	$	2,210	$	4,443
Past due 90 or more days	439		—		—		19		11		—		—		129		598
Total past due	2,413		69		64		63		16		45		32		2,339		5,041
Current loans	31,230		30,712		10,798		4,166		1,814		2,042		391,713		22,266		494,741
Total	$	33,643	$	30,781	$	10,862	$	4,229	$	1,830	$	2,087	$	391,745	$	24,605	$	499,782

Revolving loans that converted to term during the three and six months ended June 30, 2022 and 2021 were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Commercial and industrial	$	16,518	$	22,111	$	21,973	$	31,561
Energy	247		294		247		6,177
Commercial real estate:
Buildings, land and other	10,681		8,195		10,726		31,321
Construction	13		—		4,248		—
Consumer real estate	888		205		1,684		977
Consumer and other	1,792		1,961		5,868		5,696
Total	$	30,139	$	32,766	$	44,746	$	75,732

In assessing the general economic conditions in the State of Texas, management monitors and tracks the Texas Leading Index (“TLI”), which is produced by the Federal Reserve Bank of Dallas. The TLI, the components of which are more fully described in our 2021 Form 10-K, totaled 138.4 at June 30, 2022 and 135.9 at December 31, 2021. A higher TLI value implies more favorable economic conditions.

Allowance For Credit Losses - Loans. The allowance for credit losses on loans is a contra-asset valuation account, calculated in accordance with ASC 326, that is deducted from the amortized cost basis of loans to present the net amount expected to be collected. The amount of the allowance represents management's best estimate of current expected credit losses on loans considering available information, from internal and external sources, relevant to assessing collectibility over the loans' contractual terms, adjusted for expected prepayments when appropriate. Credit loss expense related to loans reflects the totality of actions taken on all loans for a particular period including any necessary increases or decreases in the allowance related to changes in credit loss expectations associated with specific loans or pools of loans. Portions of the allowance may be allocated for specific credits; however, the entire allowance is available for any credit that, in management’s judgment, should be charged off. While management utilizes its best judgment and information available, the ultimate appropriateness of the allowance is dependent upon a variety of factors beyond our control, including the performance of our loan portfolio, the economy, changes in interest rates and the view of the regulatory authorities toward loan classifications. Our allowance methodology is more fully described in our 2021 Form 10-K.

The following table presents details of the allowance for credit losses on loans segregated by loan portfolio segment as of June 30, 2022 and December 31, 2021. No allowance for credit losses has been recognized for PPP loans as such loans are fully guaranteed by the SBA.

June 30, 2022	Commercial and Industrial		Energy		Commercial Real Estate		Consumer Real Estate		Consumer and Other		Total
Modeled expected credit losses	$	48,776	$	6,106	$	20,093	$	6,639	$	9,609	$	91,223
Q-Factor and other qualitative adjustments	35,134		3,989		95,532		133		2,526		137,314
Specific allocations	3,360		6,172		1,481		82		—		11,095
Total	$	87,270	$	16,267	$	117,106	$	6,854	$	12,135	$	239,632
December 31, 2021
Modeled expected credit losses	$	46,946	$	6,363	$	16,676	$	6,484	$	6,397	$	82,866
Q-Factor and other qualitative adjustments	14,609		5,374		127,860		65		1,440		149,348
Specific allocations	10,536		5,480		400		36		—		16,452
Total	$	72,091	$	17,217	$	144,936	$	6,585	$	7,837	$	248,666

The following table details activity in the allowance for credit losses on loans by portfolio segment for the three and six months ended June 30, 2022 and 2021. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. No allowance for credit losses has been recognized for PPP loans as such loans are fully guaranteed by the SBA.

	Commercial and Industrial		Energy		Commercial Real Estate		Consumer Real Estate		Consumer and Other		Total
Three months ended:
June 30, 2022
Beginning balance	$	87,026	$	15,422	$	128,954	$	6,359	$	9,074	$	246,835
Credit loss expense (benefit)	942		427		(12,232)		583		5,884		(4,396)
Charge-offs	(1,891)		—		—		(131)		(5,322)		(7,344)
Recoveries	1,193		418		384		43		2,499		4,537
Net charge-offs	(698)		418		384		(88)		(2,823)		(2,807)
Ending balance	$	87,270	$	16,267	$	117,106	$	6,854	$	12,135	$	239,632
June 30, 2021
Beginning balance	$	70,892	$	33,472	$	144,440	$	5,636	$	6,818	$	261,258
Credit loss expense (benefit)	(5,901)		(5,527)		3,654		611		2,784		(4,379)
Charge-offs	(685)		—		(137)		(388)		(3,882)		(5,092)
Recoveries	965		65		36		295		2,140		3,501
Net charge-offs	280		65		(101)		(93)		(1,742)		(1,591)
Ending balance	$	65,271	$	28,010	$	147,993	$	6,154	$	7,860	$	255,288

	Commercial and Industrial		Energy		Commercial Real Estate		Consumer Real Estate		Consumer and Other		Total
Six months ended:
June 30, 2022
Beginning balance	$	72,091	$	17,217	$	144,936	$	6,585	$	7,837	$	248,666
Credit loss expense (benefit)	18,503		(1,617)		(27,841)		557		10,466		68
Charge-offs	(5,346)		(371)		(702)		(362)		(11,093)		(17,874)
Recoveries	2,022		1,038		713		74		4,925		8,772
Net (charge-offs) recoveries	(3,324)		667		11		(288)		(6,168)		(9,102)
Ending balance	$	87,270	$	16,267	$	117,106	$	6,854	$	12,135	$	239,632
June 30, 2021
Beginning balance	$	73,843	$	39,553	$	134,892	$	7,926	$	6,963	$	263,177
Credit loss expense (benefit)	(7,866)		(11,328)		12,576		(2,111)		4,350		(4,379)
Charge-offs	(2,874)		(1,433)		(137)		(672)		(7,942)		(13,058)
Recoveries	2,168		1,218		662		1,011		4,489		9,548
Net (charge-offs) recoveries	(706)		(215)		525		339		(3,453)		(3,510)
Ending balance	$	65,271	$	28,010	$	147,993	$	6,154	$	7,860	$	255,288

The following table presents loans that were evaluated for expected credit losses on an individual basis and the related specific allocations, by loan portfolio segment, as of June 30, 2022 and December 31, 2021.

	June 30, 2022				December 31, 2021
	Loan Balance		Specific Allocations		Loan Balance		Specific Allocations
Commercial and industrial	$	12,539	$	3,360	$	24,523	$	10,536
Energy	15,906		6,172		16,393		5,480
Paycheck Protection Program	—		—		—		—
Commercial real estate:
Buildings, land and other	21,205		1,481		24,670		200
Construction	—		—		948		200
Consumer real estate	934		82		303		36
Consumer and other	—		—		—		—
Total	$	50,584	$	11,095	$	66,837	$	16,452

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Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

Goodwill and other intangible assets are presented in the table below.

	June 30, 2022		December 31, 2021
Goodwill	$	654,952	$	654,952
Other intangible assets:
Core deposits	$	479	$	718
Customer relationships	110		148
	$	589	$	866

The estimated aggregate future amortization expense for intangible assets remaining as of June 30, 2022 is as follows:

Remainder of 2022	$	204
2023	282
2024	87
2025	11
2026	5
	$	589

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Deposits

6 Months Ended

Jun. 30, 2022

Disclosure Text Block [Abstract]

Deposits

Deposits

Deposits were as follows:

	June 30, 2022		December 31, 2021
Non-interest-bearing demand deposits	$	18,783,931	$	18,423,018
Interest-bearing deposits:
Savings and interest checking	12,309,066		11,930,959
Money market accounts	12,989,902		11,228,815
Time accounts	1,518,866		1,112,904
Total interest-bearing deposits	26,817,834		24,272,678
Total deposits	$	45,601,765	$	42,695,696

The following table presents additional information about our deposits:

	June 30, 2022		December 31, 2021
Deposits from foreign sources (primarily Mexico)	$	1,090,169	$	993,479
Non-interest-bearing public funds deposits	681,205		1,235,026
Interest-bearing public funds deposits	837,427		810,863
Total deposits not covered by deposit insurance	25,810,407		24,125,359
Time deposits not covered by deposit insurance	364,486		238,608

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Commitments and Contingencies

6 Months Ended

Jun. 30, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments Contingencies and Guarantees

Off-Balance-Sheet Arrangements, Commitments, Guarantees and Contingencies

Financial Instruments with Off-Balance-Sheet Risk. In the normal course of business, we enter into various transactions, which, in accordance with generally accepted accounting principles are not included in our consolidated balance sheets. We enter into these transactions to meet the financing needs of our customers. As more fully discussed in our 2021 Form 10-K, these transactions include commitments to extend credit and standby letters of credit, which involve, to varying degrees, elements of credit risk and interest rate risk in excess of the amounts recognized in the consolidated balance sheets. We minimize our exposure to loss under these commitments by subjecting them to credit approval and monitoring procedures.

Financial instruments with off-balance-sheet risk were as follows:

	June 30, 2022		December 31, 2021
Commitments to extend credit	$	10,771,940	$	10,420,142
Standby letters of credit	327,847		238,690
Deferred standby letter of credit fees	1,890		2,072

Allowance For Credit Losses - Off-Balance-Sheet Credit Exposures. The allowance for credit losses on off-balance-sheet credit exposures is a liability account, calculated in accordance with ASC 326, representing expected credit losses over the contractual period for which we are exposed to credit risk resulting from a contractual obligation to extend credit. No allowance is recognized if we have the unconditional right to cancel the obligation. Off-balance-sheet credit exposures primarily consist of amounts available under outstanding lines of credit and letters of credit detailed in the table above. The amount of the allowance represents management's best estimate of expected credit losses on commitments expected to be funded over the contractual life of the commitment. Our allowance methodology is more fully described in our 2021 Form 10-K.

The following table details activity in the allowance for credit losses on off-balance-sheet credit exposures.

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Beginning balance	$	45,850	$	44,217	$	50,314	$	44,152
Credit loss expense (benefit)	4,396		4,379		(68)		4,444
Ending balance	$	50,246	$	48,596	$	50,246	$	48,596

Lease Commitments. We lease certain office facilities and office equipment under operating leases. The components of total lease expense were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Amortization of lease right-of-use assets	$	8,209	$	8,129	$	16,314	$	16,412
Short-term lease expense	490		530		1,103		734
Non-lease components (including taxes, insurance, common maintenance, etc.)	2,748		2,337		5,768		5,341
Total	$	11,447	$	10,996	$	23,185	$	22,487

Right-of-use lease assets totaled $278.3 million at June 30, 2022 and $281.4 million at December 31, 2021 and are reported as a component of premises and equipment on our accompanying consolidated balance sheets. The related lease liabilities totaled $310.5 million at June 30, 2022 and $313.4 million at December 31, 2021 and are reported as a component of accrued interest payable and other liabilities in the accompanying consolidated balance sheets. Lease payments under operating leases that were applied to our operating lease liability totaled $8.4 million and $16.4 million during the three and six months ended June 30, 2022, respectively, and $8.0 million and $16.1 million during the three and six months ended June 30, 2021, respectively. There has been no significant change in our expected future minimum lease payments since December 31, 2021. See the 2021 Form 10-K for information regarding these commitments.

Litigation. We are subject to various claims and legal actions that have arisen in the course of conducting business. Management does not expect the ultimate disposition of these matters to have a material adverse impact on our financial statements.

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Capital and Regulatory Matters

6 Months Ended

Jun. 30, 2022

Banking Regulation, Common Equity Tier One Risk-Based Capital [Abstract]

Capital and Regulatory Matters

Capital and Regulatory Matters

Banks and bank holding companies are subject to various regulatory capital requirements administered by state and federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators about components, risk weighting and other factors.

Cullen/Frost’s and Frost Bank’s Common Equity Tier 1 capital (“CET1”) includes common stock and related paid-in capital, net of treasury stock, and retained earnings. In connection with the adoption of the Basel III Capital Rules, we elected to opt-out of the requirement to include most components of accumulated other comprehensive income in CET1. We also elected to exclude the effects of credit loss accounting under CECL from CET1 for a five-year transitional period, as further discussed in our 2021 Form 10-K. This CECL transitional adjustment totaled $46.2 million and $61.6 million at June 30, 2022 and December 31, 2021, respectively. CET1 is reduced by goodwill and other intangible assets, net of associated deferred tax liabilities. Frost Bank's CET1 is also reduced by its equity investment in its financial subsidiary, Frost Insurance Agency (“FIA”).

Tier 1 capital includes CET1 and additional Tier 1 capital. For Cullen/Frost, additional Tier 1 capital included $145.5 million of 4.450% non-cumulative perpetual preferred stock at June 30, 2022 and December 31, 2021, the details of which are further discussed below. Frost Bank did not have any additional Tier 1 capital beyond Common Equity Tier 1 at June 30, 2022 or December 31, 2021. Total capital includes Tier 1 capital and Tier 2 capital. Tier 2 capital for both Cullen/Frost and Frost Bank includes a permissible portion of the allowances for credit losses on securities, loans and off-balance-sheet credit exposures. Tier 2 capital for Cullen/Frost also includes the permissible portion of qualified subordinated debt (which decreases 20.0% per year during the final five years of the term of the notes) totaling $80.0 million at June 30, 2022 and $100.0 million at December 31, 2021 and trust preferred securities totaling $120.0 million at both June 30, 2022 and December 31, 2021.

The following table presents actual and required capital ratios as of June 30, 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. See the 2021 Form 10-K for a more detailed discussion of the Basel III Capital Rules.

	Actual				Minimum Capital Required - Basel III				Required to be Considered Well Capitalized
	Capital Amount		Ratio		Capital Amount		Ratio		Capital Amount		Ratio
June 30, 2022
Common Equity Tier 1 to Risk-Weighted Assets
Cullen/Frost	$	3,485,759	12.64	%	$	1,930,703	7.00	%	$	1,792,796	6.50	%
Frost Bank	3,423,585		12.42		1,929,368		7.00		1,791,556		6.50
Tier 1 Capital to Risk-Weighted Assets
Cullen/Frost	3,631,211		13.17		2,344,425		8.50		2,206,518		8.00
Frost Bank	3,423,585		12.42		2,342,804		8.50		2,204,992		8.00
Total Capital to Risk-Weighted Assets
Cullen/Frost	4,069,206		14.75		2,896,055		10.50		2,758,148		10.00
Frost Bank	3,661,580		13.28		2,894,052		10.50		2,756,240		10.00
Leverage Ratio
Cullen/Frost	3,631,211		7.03		2,067,513		4.00		2,584,391		5.00
Frost Bank	3,423,585		6.62		2,067,942		4.00		2,584,928		5.00
December 31, 2021
Common Equity Tier 1 to Risk-Weighted Assets
Cullen/Frost	$	3,371,043	13.13	%	$	1,796,549	7.00	%	$	1,668,224	6.50	%
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		2,053,198		8.00
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		2,396,917		5.00
Frost Bank	3,261,532		6.80		1,917,679		4.00		2,397,099		5.00

As of June 30, 2022, capital levels at Cullen/Frost and Frost Bank exceed all capital adequacy requirements under the Basel III Capital Rules. Based on the ratios presented above, capital levels as of June 30, 2022 at Cullen/Frost and Frost Bank exceed the minimum levels necessary to be considered “well capitalized.”

Cullen/Frost and Frost Bank are subject to the regulatory capital requirements administered by the Federal Reserve Board and, for Frost Bank, the Federal Deposit Insurance Corporation (“FDIC”). Regulatory authorities can initiate certain mandatory actions if Cullen/Frost or Frost Bank fail to meet the minimum capital requirements, which could have a direct material effect on our financial statements. Management believes, as of June 30, 2022, that Cullen/Frost and Frost Bank meet all capital adequacy requirements to which they are subject.

Preferred Stock. Outstanding preferred stock includes 150,000 shares, or $150.0 million in aggregate liquidation preference, of our 4.450% Non-Cumulative Perpetual Preferred Stock, Series B, par value $0.01 and liquidation preference $1,000 per share (“Series B Preferred Stock”). Each share of Series B Preferred Stock issued and outstanding is represented by 40 depositary shares, each representing a 1/40th ownership interest in a share of the Series B Preferred Stock (equivalent to a liquidation preference of $25 per share). The Series B Preferred Stock qualifies as Tier 1 capital for the purposes of the regulatory capital calculations. The net proceeds from the issuance and sale of the Series B Preferred Stock, after deducting $4.5 million of issuance costs including the underwriting discount and professional service fees, among other things, were approximately $145.5 million. Refer to our 2021 Form 10-K for additional details related to our Series B Preferred Stock.

Stock Repurchase Plans. From time to time, our board of directors has authorized stock repurchase plans. In general, stock repurchase plans allow us to proactively manage our capital position and return excess capital to shareholders. Shares purchased under such plans also provide us with shares of common stock necessary to satisfy obligations related to stock compensation awards. On January 26, 2022, our board of directors authorized a $100.0 million stock repurchase program, allowing us to repurchase shares of our common stock over a one-year period from time to time at various prices in the open market or

through private transactions. No shares have been repurchased under this plan or the prior plan during the reported periods. Under the Basel III Capital Rules, Cullen/Frost may not repurchase or redeem any of its preferred stock or subordinated notes and, in some cases, its common stock without the prior approval of the Federal Reserve Board.

Dividend Restrictions. In the ordinary course of business, Cullen/Frost is dependent upon dividends from Frost Bank to provide funds for the payment of dividends to shareholders and to provide for other cash requirements, including to repurchase its common stock. Banking regulations may limit the amount of dividends that may be paid. Approval by regulatory authorities is required if the effect of dividends declared would cause the regulatory capital of Frost Bank to fall below specified minimum levels. Approval is also required if dividends declared exceed the net profits for that year combined with the retained net profits for the preceding two years. Under the foregoing dividend restrictions and while maintaining its “well capitalized” status, at June 30, 2022, Frost Bank could pay aggregate dividends of up to $447.3 million to Cullen/Frost without prior regulatory approval.

Under the terms of the junior subordinated deferrable interest debentures that Cullen/Frost has issued to Cullen/Frost Capital Trust II, Cullen/Frost has the right at any time during the term of the debentures to defer the payment of interest at any time or from time to time for an extension period not exceeding 20 consecutive quarterly periods with respect to each extension period. In the event that we have elected to defer interest on the debentures, we may not, with certain exceptions, declare or pay any dividends or distributions on our capital stock or purchase or acquire any of our capital stock.

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Derivative Financial Instruments

6 Months Ended

Jun. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

Derivative Financial Instruments

The fair value of derivative positions outstanding is included in accrued interest receivable and other assets and accrued interest payable and other liabilities in the accompanying consolidated balance sheets and in the net change in each of these financial statement line items in the accompanying consolidated statements of cash flows.

Interest Rate Derivatives. We utilize interest rate swaps, caps, swaptions and floors to mitigate exposure to interest rate risk and to facilitate the needs of our customers. Our objectives for utilizing these derivative instruments are described in our 2021 Form 10-K.

The notional amounts and estimated fair values of interest rate derivative contracts are presented in the following table. The fair values of interest rate derivative contracts are estimated utilizing internal valuation methods with observable market data inputs, or as determined by the Chicago Mercantile Exchange (“CME”) for centrally cleared derivative contracts. CME rules legally characterize variation margin payments for centrally cleared derivatives as settlements of the derivatives' exposure rather than collateral. As a result, the variation margin payment and the related derivative instruments are considered a single unit of account for accounting and financial reporting purposes. Variation margin, as determined by the CME, is settled daily. As a result, derivative contracts that clear through the CME have an estimated fair value of zero as of June 30, 2022 and December 31, 2021.

	June 30, 2022				December 31, 2021
	Notional Amount		Estimated Fair Value		Notional Amount		Estimated Fair Value
Derivatives designated as hedges of fair value:
Financial institution counterparties:
Loan/lease interest rate swaps – assets	$	1,743	$	18	$	—	$	—
Loan/lease interest rate swaps – liabilities	—		—		2,426		(34)
Non-hedging interest rate derivatives:
Financial institution counterparties:
Loan/lease interest rate swaps – assets	904,706		27,908		247,592		1,207
Loan/lease interest rate swaps – liabilities	244,663		(2,489)		928,756		(19,142)
Loan/lease interest rate caps – assets	269,389		10,209		270,431		3,239
Customer counterparties:
Loan/lease interest rate swaps – assets	244,663		3,350		928,756		39,864
Loan/lease interest rate swaps – liabilities	904,706		(45,542)		247,592		(2,846)
Loan/lease interest rate caps – liabilities	269,389		(10,209)		270,431		(3,239)

The weighted-average rates paid and received for interest rate swaps outstanding at June 30, 2022 were as follows:

	Weighted-Average
	Interest Rate Paid		Interest Rate Received
Interest rate swaps:
Fair value hedge loan/lease interest rate swaps	1.58	%	1.06	%
Non-hedging interest rate swaps – financial institution counterparties	3.71		2.87
Non-hedging interest rate swaps – customer counterparties	2.87		3.71

The weighted-average strike rate for outstanding interest rate caps was 3.28% at June 30, 2022.

Commodity Derivatives. We enter into commodity swaps and option contracts that are not designated as hedging instruments primarily to accommodate the business needs of our customers. Upon the origination of a commodity swap or option contract with a customer, we simultaneously enter into an offsetting contract with a third party financial institution to mitigate the exposure to fluctuations in commodity prices.

The notional amounts and estimated fair values of non-hedging commodity swap and option derivative positions outstanding are presented in the following table. We obtain dealer quotations and use internal valuation methods with observable market data inputs to value our commodity derivative positions.

		June 30, 2022			December 31, 2021
	Notional Units	Notional Amount	Estimated Fair Value		Notional Amount	Estimated Fair Value
Financial institution counterparties:
Oil – assets	Barrels	4,173	$	20,653	4,809	$	14,721
Oil – liabilities	Barrels	9,125	(181,161)		7,032	(73,594)
Natural gas – assets	MMBTUs	11,753	3,181		15,947	4,143
Natural gas – liabilities	MMBTUs	21,557	(38,990)		29,446	(21,249)
Customer counterparties:
Oil – assets	Barrels	9,606	182,274		7,046	74,437
Oil – liabilities	Barrels	3,692	(20,306)		4,796	(14,294)
Natural gas – assets	MMBTUs	21,557	39,110		29,446	21,456
Natural gas – liabilities	MMBTUs	11,753	(3,181)		15,947	(4,124)

Foreign Currency Derivatives. We enter into foreign currency forward and option contracts that are not designated as hedging instruments primarily to accommodate the business needs of our customers. Upon the origination of a foreign currency denominated transaction with a customer, we simultaneously enter into an offsetting contract with a third party financial institution to negate the exposure to fluctuations in foreign currency exchange rates. We also utilize foreign currency forward contracts and options that are not designated as hedging instruments to mitigate the economic effect of fluctuations in foreign currency exchange rates on foreign currency holdings and certain short-term, non-U.S. dollar denominated loans. The notional amounts and fair values of open foreign currency forward and option contracts were as follows:

		June 30, 2022			December 31, 2021
	Notional Currency	Notional Amount	Estimated Fair Value		Notional Amount	Estimated Fair Value
Financial institution counterparties:
Forward and option contracts – assets	EUR	6,400	$	16	1,900	$	29
Forward and option contracts – assets	CAD	658	9		658	—
Forward and option contracts – liabilities	EUR	6,400	(174)		—	—
Customer counterparties:
Forward and option contracts – assets	EUR	6,400	174		—	—
Forward and option contracts – assets	CAD	—	—		658	4
Forward and option contracts – liabilities	EUR	6,400	(16)		1,900	(55)
Forward and option contracts – liabilities	CAD	658	(5)		—	—

Gains, Losses and Derivative Cash Flows. For fair value hedges, the changes in the fair value of both the derivative hedging instrument and the hedged item are included in other non-interest income or other non-interest expense. The extent that such changes in fair value do not offset represents hedge ineffectiveness. Net cash flows from interest rate swaps on commercial loans/leases designated as hedging instruments in effective hedges of fair value are included in interest income on loans. For non-hedging derivative instruments, gains and losses due to changes in fair value and all cash flows are included in other non-interest income and other non-interest expense.

Amounts included in the consolidated statements of income related to interest rate derivatives designated as hedges of fair value were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Commercial loan/lease interest rate swaps:
Amount of gain (loss) included in interest income on loans	$	(5)	$	(25)	$	(18)	$	(53)
Amount of (gain) loss included in other non-interest expense	3		2		5		5

As stated above, we enter into non-hedge related derivative positions primarily to accommodate the business needs of our customers. Upon the origination of a derivative contract with a customer, we simultaneously enter into an offsetting derivative contract with a third party financial institution. We recognize immediate income based upon the difference in the bid/ask spread of the underlying transactions with our customers and the third party. Because we act only as an intermediary for our customer, subsequent changes in the fair value of the underlying derivative contracts for the most part offset each other and do not significantly impact our results of operations.

Amounts included in the consolidated statements of income related to non-hedge related derivative instruments are presented in the table below.

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Non-hedging interest rate derivatives:
Other non-interest income	$	515	$	141	$	1,031	$	1,728
Other non-interest expense	—		—		—		(1)
Non-hedging commodity derivatives:
Other non-interest income	649		969		1,578		2,123
Non-hedging foreign currency derivatives:
Other non-interest income	45		—		63		30

Counterparty Credit Risk. Our credit exposure relating to interest rate swaps, commodity swaps/options and foreign currency forward and option contracts with bank customers was approximately $198.1 million at June 30, 2022. This credit exposure is partly mitigated as transactions with customers are generally secured by the collateral, if any, securing the underlying transaction being hedged. Our credit exposure, net of collateral pledged, relating to interest rate swaps, commodity swaps/options and foreign currency forward/option contracts with upstream financial institution counterparties was approximately $41.5 million at June 30, 2022. This amount was primarily related to initial margin payments to the CME and excess collateral we posted to counterparties. Excess collateral is generally cleared on the next business day. Collateral levels for upstream financial institution counterparties are monitored and adjusted as necessary. See Note 9 – Balance Sheet Offsetting and Repurchase Agreements for additional information regarding our credit exposure with upstream financial institution counterparties. At June 30, 2022, we had $212.4 million in cash collateral related to derivative contracts on deposit with other financial institution counterparties.

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Balance Sheet Offsetting

6 Months Ended

Jun. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Balance Sheet Offsetting

Balance Sheet Offsetting and Repurchase Agreements

Balance Sheet Offsetting. Certain financial instruments, including resell and repurchase agreements and derivatives, may be eligible for offset in the consolidated balance sheet and/or subject to master netting arrangements or similar agreements. Our derivative transactions with upstream financial institution counterparties are generally executed under International Swaps and Derivative Association (“ISDA”) master agreements which include “right of set-off” provisions. In such cases there is generally a legally enforceable right to offset recognized amounts and there may be an intention to settle such amounts on a net basis. Nonetheless, we do not generally offset such financial instruments for financial reporting purposes.

Information about financial instruments that are eligible for offset in the consolidated balance sheet as of June 30, 2022 is presented in the following tables.

	Gross Amount Recognized		Gross Amount Offset		Net Amount Recognized
June 30, 2022
Financial assets:
Derivatives:
Loan/lease interest rate swaps and caps	$	38,135	$	—	$	38,135
Commodity swaps and options	23,834		—		23,834
Foreign currency forward contracts	25		—		25
Total derivatives	61,994		—		61,994
Resell agreements	9,650		—		9,650
Total	$	71,644	$	—	$	71,644
Financial liabilities:
Derivatives:
Loan/lease interest rate swaps and caps	$	2,489	$	—	$	2,489
Commodity swaps and options	220,151		—		220,151
Foreign currency forward contracts	174		—		174
Total derivatives	222,814		—		222,814
Repurchase agreements	1,664,685		—		1,664,685
Total	$	1,887,499	$	—	$	1,887,499

			Gross Amounts Not Offset
	Net Amount Recognized		Financial Instruments		Collateral		Net Amount
June 30, 2022
Financial assets:
Derivatives:
Counterparty A	$	41	$	(41)	$	—	$	—
Counterparty B	25,962		(25,962)		—		—
Counterparty C	16		(16)		—		—
Other counterparties	35,975		(25,533)		(10,442)		—
Total derivatives	61,994		(51,552)		(10,442)		—
Resell agreements	9,650		—		(9,650)		—
Total	$	71,644	$	(51,552)	$	(20,092)	$	—
Financial liabilities:
Derivatives:
Counterparty A	$	1,726	$	(41)	$	(1,571)	$	114
Counterparty B	50,901		(25,962)		(24,939)		—
Counterparty C	174		(16)		(10)		148
Other counterparties	170,013		(25,533)		(144,463)		17
Total derivatives	222,814		(51,552)		(170,983)		279
Repurchase agreements	1,664,685		—		(1,664,685)		—
Total	$	1,887,499	$	(51,552)	$	(1,835,668)	$	279

Information about financial instruments that are eligible for offset in the consolidated balance sheet as of December 31, 2021 is presented in the following tables.

	Gross Amount Recognized		Gross Amount Offset		Net Amount Recognized
December 31, 2021
Financial assets:
Derivatives:
Loan/lease interest rate swaps and caps	$	4,446	$	—	$	4,446
Commodity swaps and options	18,864		—		18,864
Total derivatives	23,339		—		23,339
Resell agreements	7,903		—		7,903
Total	$	31,242	$	—	$	31,242
Financial liabilities:
Derivatives:
Loan/lease interest rate swaps and caps	$	19,176	$	—	$	19,176
Commodity swaps and options	94,843		—		94,843
Total derivatives	114,019		—		114,019
Repurchase agreements	2,740,799		—		2,740,799
Total	$	2,854,818	$	—	$	2,854,818

			Gross Amounts Not Offset
	Net Amount Recognized		Financial Instruments		Collateral		Net Amount
December 31, 2021
Financial assets:
Derivatives:
Counterparty A	$	6	$	(6)	$	—	$	—
Counterparty B	7,655		(7,655)		—		—
Other counterparties	15,678		(15,678)		—		—
Total derivatives	23,339		(23,339)		—		—
Resell agreements	7,903		—		(7,903)		—
Total	$	31,242	$	(23,339)	$	(7,903)	$	—
Financial liabilities:
Derivatives:
Counterparty A	$	3,870	$	(6)	$	(3,864)	$	—
Counterparty B	28,130		(7,655)		(20,475)		—
Counterparty C	9		—		(9)		—
Other counterparties	82,010		(15,678)		(66,225)		107
Total derivatives	114,019		(23,339)		(90,573)		107
Repurchase agreements	2,740,799		—		(2,740,799)		—
Total	$	2,854,818	$	(23,339)	$	(2,831,372)	$	107

Repurchase Agreements. We utilize securities sold under agreements to repurchase to facilitate the needs of our customers and to facilitate secured short-term funding needs. Securities sold under agreements to repurchase are stated at the amount of cash received in connection with the transaction. We monitor collateral levels on a continuous basis. We may be required to provide additional collateral based on the fair value of the underlying securities. Securities pledged as collateral under repurchase agreements are maintained with our safekeeping agents.

The remaining contractual maturity of repurchase agreements in the consolidated balance sheets as of June 30, 2022 and December 31, 2021 is presented in the following tables.

	Remaining Contractual Maturity of the Agreements
	Overnight and Continuous		Up to 30 Days		30-90 Days		Greater than 90 Days		Total
June 30, 2022
Repurchase agreements:
U.S. Treasury	$	834,063	$	—	$	—	$	—	$	834,063
Residential mortgage-backed securities	830,622		—		—		—		830,622
Total borrowings	$	1,664,685	$	—	$	—	$	—	$	1,664,685
Gross amount of recognized liabilities for repurchase agreements									$	1,664,685
Amounts related to agreements not included in offsetting disclosures above									$	—
December 31, 2021
Repurchase agreements:
U.S. Treasury	$	1,342,591	$	—	$	—	$	—	$	1,342,591
Residential mortgage-backed securities	1,398,208		—		—		—		1,398,208
Total borrowings	$	2,740,799	$	—	$	—	$	—	$	2,740,799
Gross amount of recognized liabilities for repurchase agreements									$	2,740,799
Amounts related to agreements not included in offsetting disclosures above									$	—

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Stock-Based Compensation

6 Months Ended

Jun. 30, 2022

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation

Stock-Based Compensation

A combined summary of activity in our active stock plans is presented in the table below. Performance stock units outstanding are presented assuming attainment of the maximum payout rate as set forth by the performance criteria. As of June 30, 2022, there were 788,070 shares remaining available for grant for future stock-based compensation awards.

	Deferred Stock Units Outstanding			Non-Vested Stock Units Outstanding			Performance Stock Units Outstanding			Stock Options Outstanding
	Number of Units	Weighted- Average Fair Value at Grant		Number of Units	Weighted- Average Fair Value at Grant		Number of Units	Weighted- Average Fair Value at Grant		Number of Shares	Weighted- Average Exercise Price
Balance, January 1, 2022	56,301	$	79.21	449,337	$	93.05	202,460	$	84.71	877,681	$	69.02
Authorized	—	—		—	—		—	—		—	—
Granted	5,382	133.67		3,460	132.72		—	—		—	—
Exercised/vested	(16,022)	74.89		—	—		(25,180)	87.18		(103,060)	62.97
Forfeited/expired	—	—		(3,167)	94.57		(16,058)	87.18		—	—
Balance, June 30, 2022	45,661	87.15		449,630	93.35		161,222	84.08		774,621	69.83

Shares issued in connection with stock compensation awards are issued from available treasury shares. If no treasury shares are available, new shares are issued from available authorized shares. Shares issued in connection with stock compensation awards along with other related information were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
New shares issued from available authorized shares	—		—		—		—
Shares issued from available treasury stock	28,832		114,252		144,262		628,076
Proceeds from stock option exercises	$	751	$	7,285	$	6,490	$	36,682

Stock-based compensation expense is recognized ratably over the requisite service period for all awards. For most stock option awards, the service period generally matches the vesting period. For stock options granted to certain executive officers and for non-vested stock units granted to all participants, the service period does not extend past the date the participant reaches 65 years of age. Deferred stock units granted to non-employee directors generally have immediate vesting and the related expense is fully recognized on the date of grant. For performance stock units, the service period generally matches the three-year performance period specified by the award, however, the service period does not extend past the date the participant reaches 65 years of age. Expense recognized each period is dependent upon our estimate of the number of shares that will ultimately be issued.

Stock-based compensation expense or benefit and the related income tax benefit is presented in the following table. The service period for performance stock units granted each year begins on January 1 of the following year.

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Non-vested stock units	$	2,291	$	1,768	$	4,649	$	3,651
Deferred stock units	720		700		720		700
Performance stock units	407		777		161		1,420
Total	$	3,418	$	3,245	$	5,530	$	5,771
Income tax benefit	$	612	$	514	$	1,320	$	881

Unrecognized stock-based compensation expense at June 30, 2022 is presented in the table below. Unrecognized stock-based compensation expense related to performance stock units is presented assuming attainment of the maximum payout rate as set forth by the performance criteria.

Non-vested stock units	$	13,954
Performance stock units	8,256
Total	$	22,210

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Earnings Per Common Share

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Earnings Per Common Share

Earnings Per Common Share

Earnings per common share is computed using the two-class method as more fully described in our 2021 Form 10-K. The following table presents a reconciliation of net income available to common shareholders, net earnings allocated to common stock and the number of shares used in the calculation of basic and diluted earnings per common share.

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Net income	$	119,114	$	118,068	$	218,216	$	234,083
Less: Preferred stock dividends	1,669		1,669		3,338		3,820
Net income available to common shareholders	117,445		116,399		214,878		230,263
Less: Earnings allocated to participating securities	1,036		1,141		1,888		2,307
Net earnings allocated to common stock	$	116,409	$	115,258	$	212,990	$	227,956
Distributed earnings allocated to common stock	$	48,092	$	45,824	$	96,143	$	91,484
Undistributed earnings allocated to common stock	68,317		69,434		116,847		136,472
Net earnings allocated to common stock	$	116,409	$	115,258	$	212,990	$	227,956
Weighted-average shares outstanding for basic earnings per common share	64,112,828		63,606,340		64,082,185		63,457,245
Dilutive effect of stock compensation	354,401		495,819		382,395		511,288
Weighted-average shares outstanding for diluted earnings per common share	64,467,229		64,102,159		64,464,580		63,968,533

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Defined Benefit Plans

6 Months Ended

Jun. 30, 2022

Retirement Benefits [Abstract]

Defined Benefit Plans

Defined Benefit Plans

The components of the combined net periodic expense (benefit) for our defined benefit pension plans are presented in the table below.

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Expected return on plan assets, net of expenses	$	(3,492)	$	(3,210)	$	(6,983)	$	(6,420)
Interest cost on projected benefit obligation	1,004		836		2,008		1,671
Net amortization and deferral	741		1,529		1,482		3,058
Net periodic expense (benefit)	$	(1,747)	$	(845)	$	(3,493)	$	(1,691)

Our non-qualified defined benefit pension plan is not funded. No contributions to the qualified defined benefit pension plan were made during the six months ended June 30, 2022. We do not expect to make any contributions to the qualified defined benefit plan during the remainder of 2022.

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Income Taxes

6 Months Ended

Jun. 30, 2022

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

Income tax expense was as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Current income tax expense (benefit)	$	22,646		$	14,065		$	35,705		$	17,790
Deferred income tax expense (benefit)	(1,972)			1,016			(2,404)			5,188
Income tax expense, as reported	$	20,674		$	15,081		$	33,301		$	22,978
Effective tax rate	14.8		%	11.3		%	13.2		%	8.9		%

We had a net deferred tax asset totaling $245.9 million at June 30, 2022 and a net deferred tax liability totaling $81.2 million at December 31, 2021. No valuation allowance for deferred tax assets was recorded at June 30, 2022 as management believes it is more likely than not that all of the deferred tax assets will be realized against deferred tax liabilities and projected future taxable income.

The effective income tax rates differed from the U.S. statutory federal income tax rates of 21% during the comparable periods primarily due to the effect of tax-exempt income from loans, securities and life insurance policies and the income tax effects associated with stock-based compensation. There were no unrecognized tax benefits during any of the reported periods.

Interest and/or penalties related to income taxes are reported as a component of income tax expense. Such amounts were not significant during the reported periods.

We file income tax returns in the U.S. federal jurisdiction. We are no longer subject to U.S. federal income tax examinations by tax authorities for years before 2018.

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Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

Comprehensive Income (Loss) Note

Other Comprehensive Income (Loss)

The before and after tax amounts allocated to each component of other comprehensive income (loss) are presented in the following table. Reclassification adjustments related to securities available for sale are included in net gain (loss) on securities transactions in the accompanying consolidated statements of income. Reclassification adjustments related to defined-benefit post-retirement benefit plans are included in the computation of net periodic pension expense (see Note 12 – Defined Benefit Plans).

	Three Months Ended June 30, 2022						Three Months Ended June 30, 2021
	Before Tax Amount		Tax  Expense, (Benefit)		Net of  Tax Amount		Before Tax Amount		Tax  Expense, (Benefit)		Net of  Tax Amount
Securities available for sale and transferred securities:
Change in net unrealized gain/loss during the period	$	(636,523)	$	(133,670)	$	(502,853)	$	30,668	$	6,441	$	24,227
Change in net unrealized gain on securities transferred to held to maturity	(189)		(40)		(149)		(245)		(52)		(193)
Reclassification adjustment for net (gains) losses included in net income	—		—		—		—		—		—
Total securities available for sale and transferred securities	(636,712)		(133,710)		(503,002)		30,423		6,389		24,034
Defined-benefit post-retirement benefit plans:
Reclassification adjustment for net amortization of actuarial gain/loss included in net income as a component of net periodic cost (benefit)	741		155		586		1,529		321		1,208
Total defined-benefit post-retirement benefit plans	741		155		586		1,529		321		1,208
Total other comprehensive income (loss)	$	(635,971)	$	(133,555)	$	(502,416)	$	31,952	$	6,710	$	25,242
	Six Months Ended June 30, 2022						Six Months Ended June 30, 2021
	Before Tax Amount		Tax  Expense, (Benefit)		Net of  Tax Amount		Before Tax Amount		Tax  Expense, (Benefit)		Net of  Tax Amount
Securities available for sale and transferred securities:
Change in net unrealized gain/loss during the period	$	(1,547,318)	$	(324,937)	$	(1,222,381)	$	(129,111)	$	(27,113)	$	(101,998)
Change in net unrealized gain on securities transferred to held to maturity	(398)		(84)		(314)		(504)		(106)		(398)
Reclassification adjustment for net (gains) losses included in net income	—		—		—		—		—		—
Total securities available for sale and transferred securities	(1,547,716)		(325,021)		(1,222,695)		(129,615)		(27,219)		(102,396)
Defined-benefit post-retirement benefit plans:
Reclassification adjustment for net amortization of actuarial gain/loss included in net income as a component of net periodic expense (benefit)	1,482		311		1,171		3,058		642		2,416
Total defined-benefit post-retirement benefit plans	1,482		311		1,171		3,058		642		2,416
Total other comprehensive income (loss)	$	(1,546,234)	$	(324,710)	$	(1,221,524)	$	(126,557)	$	(26,577)	$	(99,980)

Activity in accumulated other comprehensive income (loss), net of tax, was as follows:

	Securities Available For Sale		Defined Benefit Plans		Accumulated Other Comprehensive Income
Balance January 1, 2022	$	380,209	$	(32,891)	$	347,318
Other comprehensive income (loss) before reclassifications	(1,222,695)		—		(1,222,695)
Reclassification of amounts included in net income	—		1,171		1,171
Net other comprehensive income (loss) during period	(1,222,695)		1,171		(1,221,524)
Balance at June 30, 2022	$	(842,486)	$	(31,720)	$	(874,206)
Balance January 1, 2021	$	563,801	$	(50,831)	$	512,970
Other comprehensive income (loss) before reclassifications	(102,396)		—		(102,396)
Reclassification of amounts included in net income	—		2,416		2,416
Net other comprehensive income (loss) during period	(102,396)		2,416		(99,980)
Balance at June 30, 2021	$	461,405	$	(48,415)	$	412,990

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Operating Segments

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Operating Segments

Operating Segments

We are managed under a matrix organizational structure whereby our two primary operating segments, Banking and Frost Wealth Advisors, overlap a regional reporting structure. See our 2021 Form 10-K for additional information regarding our operating segments. Summarized operating results by segment were as follows:

	Banking		Frost  Wealth Advisors		Non-Banks		Consolidated
Three months ended:
June 30, 2022
Net interest income (expense)	$	289,186	$	958	$	(1,936)	$	288,208
Credit loss expense	1		(1)		—		—
Non-interest income	55,397		43,054		(524)		97,927
Non-interest expense	211,044		33,158		2,145		246,347
Income (loss) before income taxes	133,538		10,855		(4,605)		139,788
Income tax expense (benefit)	19,821		2,279		(1,426)		20,674
Net income (loss)	113,717		8,576		(3,179)		119,114
Preferred stock dividends	—		—		1,669		1,669
Net income (loss) available to common shareholders	$	113,717	$	8,576	$	(4,848)	$	117,445
Revenues from (expenses to) external customers	$	344,583	$	44,012	$	(2,460)	$	386,135
June 30, 2021
Net interest income (expense)	$	258,450	$	508	$	(1,802)	$	257,156
Credit loss expense (benefit)	—		—		—		—
Non-interest income	48,944		42,534		(231)		91,247
Non-interest expense	183,109		30,014		2,131		215,254
Income (loss) before income taxes	124,285		13,028		(4,164)		133,149
Income tax expense (benefit)	13,605		2,736		(1,260)		15,081
Net income (loss)	110,680		10,292		(2,904)		118,068
Preferred stock dividends	—		—		1,669		1,669
Net income (loss) available to common shareholders	$	110,680	$	10,292	$	(4,573)	$	116,399
Revenues from (expenses to) external customers	$	307,394	$	43,042	$	(2,033)	$	348,403
Six months ended:
June 30, 2022
Net interest income (expense)	$	539,305	$	1,658	$	(3,684)	$	537,279
Credit loss expense (benefit)	—		—		—		—
Non-interest income	114,103		86,283		(1,069)		199,317
Non-interest expense	417,582		64,068		3,429		485,079
Income (loss) before income taxes	235,826		23,873		(8,182)		251,517
Income tax expense (benefit)	30,835		5,013		(2,547)		33,301
Net income (loss)	204,991		18,860		(5,635)		218,216
Preferred stock dividends	—		—		3,338		3,338
Net income (loss) available to common shareholders	$	204,991	$	18,860	$	(8,973)	$	214,878
Revenues from (expenses to) external customers	$	653,408	$	87,941	$	(4,753)	$	736,596
June 30, 2021
Net interest income (expense)	$	500,655	$	994	$	(3,612)	$	498,037
Credit loss expense	63		—		—		63
Non-interest income	102,724		82,143		(384)		184,483
Non-interest expense	362,260		59,951		3,185		425,396
Income (loss) before income taxes	241,056		23,186		(7,181)		257,061
Income tax expense (benefit)	20,782		4,869		(2,673)		22,978
Net income (loss)	220,274		18,317		(4,508)		234,083
Preferred stock dividends	—		—		3,820		3,820
Net income (loss) available to common shareholders	$	220,274	$	18,317	$	(8,328)	$	230,263
Revenues from (expenses to) external customers	$	603,379	$	83,137	$	(3,996)	$	682,520

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Fair Value Measurements

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair Value Measurements

The fair value of an asset or liability is the price that would be received to sell that asset or paid to transfer that liability in an orderly transaction occurring in the principal market (or most advantageous market in the absence of a principal market) for such asset or liability. In estimating fair value, we utilize valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. Such valuation techniques are consistently applied. Inputs to valuation techniques include the assumptions that market participants would use in pricing an asset or liability. ASC Topic 820 establishes a three-level fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. See our 2021 Form 10-K for additional information regarding the fair value hierarchy and a description of our valuation techniques.

Financial Assets and Financial Liabilities. The tables below summarize financial assets and financial liabilities measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021, segregated by the level of the valuation inputs within the fair value hierarchy of ASC Topic 820 utilized to measure fair value.

	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
June 30, 2022
Securities available for sale:
U.S. Treasury	$	4,416,299	$	—	$	—	$	4,416,299
Residential mortgage-backed securities	—		5,335,725		—		5,335,725
States and political subdivisions	—		6,987,296		—		6,987,296
Other	—		42,365		—		42,365
Trading account securities:
U.S. Treasury	24,615		—		—		24,615
States and political subdivisions	—		65		—		65
Derivative assets:
Interest rate swaps, caps and floors	—		41,485		—		41,485
Commodity swaps and options	—		245,218		—		245,218
Foreign currency forward contracts	199		—		—		199
Derivative liabilities:
Interest rate swaps, caps and floors	—		58,240		—		58,240
Commodity swaps and options	—		243,638		—		243,638
Foreign currency forward contracts	195		—		—		195
December 31, 2021
Securities available for sale:
U.S. Treasury	$	2,179,433	$	—	$	—	$	2,179,433
Residential mortgage-backed securities	—		4,066,265		—		4,066,265
States and political subdivisions	—		7,636,571		—		7,636,571
Other	—		42,359		—		42,359
Trading account securities:
U.S. Treasury	24,237		—		—		24,237
States and political subdivisions	—		925		—		925
Derivative assets:
Interest rate swaps, caps and floors	—		44,310		—		44,310
Commodity swaps and options	—		114,757		—		114,757
Foreign currency forward contracts	33		—		—		33
Derivative liabilities:
Interest rate swaps, caps and floors	—		25,261		—		25,261
Commodity swaps and options	—		113,261		—		113,261
Foreign currency forward contracts	55		—		—		55

Certain financial assets and financial liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances. Financial assets measured at fair value on a non-recurring basis during the reported periods include certain collateral dependent loans reported at the fair value of the underlying collateral if repayment is expected solely from the collateral.

The following table presents collateral dependent loans that were remeasured and reported at fair value through a specific allocation of the allowance for credit losses on loans based upon the fair value of the underlying collateral during the reported periods.

	Six Months Ended June 30, 2022				Six Months Ended June 30, 2021
	Level 2		Level 3		Level 2		Level 3
Carrying value before allocations	$	5,454	$	3,614	$	3,399	$	19,423
Specific (allocations) reversals of prior allocations	(1,327)		6,877		(336)		(3,273)
Fair value	$	4,127	$	10,491	$	3,063	$	16,150

Non-Financial Assets and Non-Financial Liabilities. We do not have any non-financial assets or non-financial liabilities measured at fair value on a recurring basis. From time to time, non-financial assets measured at fair value on a non-recurring basis may include certain foreclosed assets which, upon initial recognition, were remeasured and reported at fair value through a charge-off to the allowance for loan losses and certain foreclosed assets which, subsequent to their initial recognition, were remeasured at fair value through a write-down included in other non-interest expense. There were no such fair value measurements during the reported periods.

Financial Instruments Reported at Amortized Cost. The estimated fair values of financial instruments that are reported at amortized cost in our consolidated balance sheets, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value, were as follows:

	June 30, 2022				December 31, 2021
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial assets:
Level 2 inputs:
Cash and cash equivalents	$	13,658,585	$	13,658,585	$	16,583,000	$	16,583,000
Securities held to maturity	1,946,428		1,828,515		1,749,179		1,809,143
Cash surrender value of life insurance policies	189,823		189,823		190,139		190,139
Accrued interest receivable	194,049		194,049		179,111		179,111
Level 3 inputs:
Loans, net	16,496,394		16,126,497		16,087,731		16,079,454
Financial liabilities:
Level 2 inputs:
Deposits	45,601,765		45,584,113		42,695,696		41,343,426
Federal funds purchased	43,200		43,200		25,925		25,925
Repurchase agreements	1,664,685		1,664,685		2,740,799		2,740,799
Junior subordinated deferrable interest debentures	123,040		123,712		123,011		123,712
Subordinated notes	99,256		99,626		99,178		111,430
Accrued interest payable	6,059		6,059		3,026		3,026

Under ASC Topic 825, entities may choose to measure eligible financial instruments at fair value at specified election dates. The fair value measurement option (i) may be applied instrument by instrument, with certain exceptions, (ii) is generally irrevocable and (iii) is applied only to entire instruments and not to portions of instruments. Unrealized gains and losses on items for which the fair value measurement option has been elected must be reported in earnings at each subsequent reporting date. During the reported periods, we had no financial instruments measured at fair value under the fair value measurement option.

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Accounting Standards Updates

6 Months Ended

Jun. 30, 2022

Accounting Changes and Error Corrections [Abstract]

Accounting Standards Updates

Accounting Standards Updates

Information about certain recently issued accounting standards updates is presented below. Also refer to Note 20 - Accounting Standards Updates in our 2021 Form 10-K for additional information related to previously issued accounting standards updates.

ASU 2022-01, “Derivatives and Hedging (Topic 815): Fair Value Hedging - Portfolio Layer Method.” Under prior guidance, entities can apply the last-of-layer hedging method to hedge the exposure of a closed portfolio of prepayable financial assets to fair value changes due to changes in interest rates for a portion of the portfolio that is not expected to be affected by prepayments, defaults, and other events affecting the timing and amount of cash flows. ASU 2022-01 expands the last-of-layer method, which permits only one hedge layer, to allow multiple hedged layers of a single closed portfolio. To reflect that expansion, the last-of-layer method is renamed the portfolio layer method. ASU 2022-01 also (i) expands the scope of the portfolio layer method to include non-prepayable financial assets, (ii) specifies eligible hedging instruments in a single-layer hedge, (iii) provides additional guidance on the accounting for and disclosure of hedge basis adjustments under the portfolio layer method and (iv) specifies how hedge basis adjustments should be considered when determining credit losses for the assets included in the closed portfolio. ASU 2022-01 will be effective for us on January 1, 2023 though early adoption is permitted. The adoption of ASU 2022-01 is not expected to have a significant impact on our financial statements.

ASU 2022-02, “Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures.” ASU 2022-02 eliminates the accounting guidance for troubled debt restructurings in Accounting Standards Codification (“ASC”) Subtopic 310-40, Receivables - Troubled Debt Restructurings by Creditors, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. Additionally, ASU 2022-02 requires entities to disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of ASC Subtopic 3126-20, Financial Instruments - Credit Losses - Measured at Amortized Cost. ASU 2022-02 will be effective for us on January 1, 2023 though early adoption is permitted. The adoption of ASU 2022-02 is not expected to have a significant impact on our financial statements.

ASU 2022-03, “Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions.” ASU 2022-03 clarifies that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. ASU 2022-03 also clarifies that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction and requires certain new disclosures for equity securities subject to contractual sale restrictions. ASU 2022-03 will be effective for us on January 1, 2024 though early adoption is permitted. The adoption of ASU 2022-03 is not expected to have a significant impact on our financial statements.

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Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2022

Accounting Policies [Abstract]

Nature of Operations

Nature of Operations. Cullen/Frost Bankers, Inc. (“Cullen/Frost”) is a financial holding company and a bank holding company headquartered in San Antonio, Texas that provides, through its subsidiaries, a broad array of products and services throughout numerous Texas markets. The terms “Cullen/Frost,” “the Corporation,” “we,” “us” and “our” mean Cullen/Frost Bankers, Inc. and its subsidiaries, when appropriate. In addition to general commercial and consumer banking, other products and services offered include trust and investment management, insurance, brokerage, mutual funds, leasing, treasury management, capital markets advisory and item processing.

Basis of Presentation

Basis of Presentation. The consolidated financial statements in this Quarterly Report on Form 10-Q include the accounts of Cullen/Frost and all other entities in which Cullen/Frost has a controlling financial interest. All significant intercompany balances and transactions have been eliminated in consolidation. The accounting and financial reporting policies we follow conform, in all material respects, to accounting principles generally accepted in the United States and to general practices within the financial services industry.

The consolidated financial statements in this Quarterly Report on Form 10-Q have not been audited by an independent registered public accounting firm, but in the opinion of management, reflect all adjustments necessary for a fair presentation of our financial position and results of operations. All such adjustments were of a normal and recurring nature. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q adopted by the Securities and Exchange Commission (“SEC”). Accordingly, the financial statements do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements and should be read in conjunction with our consolidated financial statements, and notes thereto, for the year ended December 31, 2021, included in our Annual Report on Form 10-K filed with the SEC on February 4, 2022 (the “2021 Form 10-K”). Operating results for the interim periods disclosed herein are not necessarily indicative of the results that may be expected for a full year or any future period.

Use of Estimates

Use of Estimates. The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates. The allowance for loan losses and the fair values of financial instruments and the status of contingencies are particularly subject to change.

Reclassification, Policy [Policy Text Block]

Certain items in prior financial statements have been reclassified to conform to the current presentation.

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Loans Loans - Allowance For Credit Losses (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block]	Allowance For Credit Losses - Loans. The allowance for credit losses on loans is a contra-asset valuation account, calculated in accordance with ASC 326, that is deducted from the amortized cost basis of loans to present the net amount expected to be collected. The amount of the allowance represents management's best estimate of current expected credit losses on loans considering available information, from internal and external sources, relevant to assessing collectibility over the loans' contractual terms, adjusted for expected prepayments when appropriate. Credit loss expense related to loans reflects the totality of actions taken on all loans for a particular period including any necessary increases or decreases in the allowance related to changes in credit loss expectations associated with specific loans or pools of loans. Portions of the allowance may be allocated for specific credits; however, the entire allowance is available for any credit that, in management’s judgment, should be charged off. While management utilizes its best judgment and information available, the ultimate appropriateness of the allowance is dependent upon a variety of factors beyond our control, including the performance of our loan portfolio, the economy, changes in interest rates and the view of the regulatory authorities toward loan classifications. Our allowance methodology is more fully described in our 2021 Form 10-K.

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Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2022

Accounting Policies [Abstract]

Additional Cash Flow Information

Additional cash flow information was as follows:

	Six Months Ended June 30,
	2022		2021
Cash paid for interest	$	22,551	$	15,936
Cash paid for income taxes	45,500		15,400
Significant non-cash transactions:
Unsettled securities transactions	110,623		358,752
Loans foreclosed and transferred to other real estate owned and foreclosed assets	—		3,251
Right-of-use lease assets obtained in exchange for lessee operating lease liabilities	8,857		1,552
Treasury stock issued to 401(k) stock purchase plan	—		1,749

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Securities (Tables)

6 Months Ended

Jun. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Debt Securities, Held-to-maturity [Table Text Block]

A summary of the amortized cost, fair value and allowance for credit losses related to securities held to maturity as of June 30, 2022 and December 31, 2021 is presented below.

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value		Allowance for Credit Losses		Net Carrying Amount
June 30, 2022
Residential mortgage-backed securities	$	526,675	$	—	$	40,383	$	486,292	$	—	$	526,675
States and political subdivisions	1,418,411		3,956		81,583		1,340,784		(158)		1,418,253
Other	1,500		—		61		1,439		—		1,500
Total	$	1,946,586	$	3,956	$	122,027	$	1,828,515	$	(158)	$	1,946,428
December 31, 2021
Residential mortgage-backed securities	$	527,264	$	18,766	$	—	$	546,030	$	—	$	527,264
States and political subdivisions	1,220,573		41,141		101		1,261,613		(158)		1,220,415
Other	1,500		—		—		1,500		—		1,500
Total	$	1,749,337	$	59,907	$	101	$	1,809,143	$	(158)	$	1,749,179

Moody's and Standard & Poor's Bond Ratings [Table Text Block]

The following table summarizes Moody's and/or Standard & Poor's bond ratings for our portfolio of held-to-maturity securities issued by States and political subdivisions and other securities as of June 30, 2022 and December 31, 2021:

	States and Political Subdivisions
	Not Guaranteed or Pre-Refunded		Guaranteed by the Texas PSF		Pre-Refunded		Total		Other Securities
June 30, 2022
Aaa/AAA	$	161,274	$	764,405	$	344,335	$	1,270,014	$	—
Aa/AA	148,397		—		—		148,397		—
Not rated	—		—		—		—		1,500
Total	$	309,671	$	764,405	$	344,335	$	1,418,411	$	1,500
December 31, 2021
Aaa/AAA	$	92,379	$	460,648	$	563,251	$	1,116,278	$	—
Aa/AA	104,295		—		—		104,295		—
Not rated	—		—		—		—		1,500
Total	$	196,674	$	460,648	$	563,251	$	1,220,573	$	1,500

Debt Securities, Held-to-maturity, Allowance for Credit Loss [Table Text Block]

The following table details activity in the allowance for credit losses on held-to-maturity securities during the three and six months ended June 30, 2022 and 2021.

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Beginning balance	$	158	$	158	$	158	$	160
Credit loss expense (benefit)	—		—		—		(2)
Ending balance	$	158	$	158	$	158	$	158

Amortized Cost, Estimated Fair Value and Allowance for Credit Losses of Securities Available for Sale

A summary of the amortized cost, fair value and allowance for credit losses related to securities available for sale as of June 30, 2022 and December 31, 2021 is presented below.

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Estimated Fair Value
June 30, 2022
U.S. Treasury	$	4,656,896	$	2,093	$	242,690	$	—	$	4,416,299
Residential mortgage-backed securities	5,967,803		3,443		635,521		—		5,335,725
States and political subdivisions	7,183,199		50,465		246,368		—		6,987,296
Other	42,365		—		—		—		42,365
Total	$	17,850,263	$	56,001	$	1,124,579	$	—	$	16,781,685
December 31, 2021
U.S. Treasury	$	2,165,702	$	23,333	$	9,602	$	—	$	2,179,433
Residential mortgage-backed securities	4,059,692		31,662		25,089		—		4,066,265
States and political subdivisions	7,178,135		463,810		5,374		—		7,636,571
Other	42,359		—		—		—		42,359
Total	$	13,445,888	$	518,805	$	40,065	$	—	$	13,924,628

Securities, with Unrealized Losses Segregated by Length of Impairment

The table below summarizes, as of June 30, 2022, securities available for sale in an unrealized loss position for which an allowance for credit losses has not been recorded, aggregated by type of security and length of time in a continuous unrealized loss position.

	Less than 12 Months				More than 12 Months				Total
	Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses
U.S. Treasury	$	4,224,018	$	242,690	$	—	$	—	$	4,224,018	$	242,690
Residential mortgage-backed securities	4,825,871		568,405		369,098		67,116		5,194,969		635,521
States and political subdivisions	3,249,625		241,884		13,824		4,484		3,263,449		246,368
Total	$	12,299,514	$	1,052,979	$	382,922	$	71,600	$	12,682,436	$	1,124,579

Amortized Cost and Estimated Fair Value of Securities, Excluding Trading Securities, Presented by Contractual Maturity

The following table summarizes the maturity distribution schedule of securities held to maturity and securities available for sale as of June 30, 2022. Mortgage-backed securities are included in maturity categories based on their stated maturity date. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Other securities classified as available for sale include stock in the Federal Reserve Bank and the Federal Home Loan Bank, which have no maturity date. These securities have been included in the total column only.

	Within 1 Year		1 - 5 Years		5 - 10 Years		After 10 Years		Total
Held To Maturity
Amortized Cost
Residential mortgage-backed securities	$	3	$	—	$	514,582	$	12,090	$	526,675
States and political subdivisions	350,365		84,053		22,102		961,891		1,418,411
Other	—		1,500		—		—		1,500
Total	$	350,368	$	85,553	$	536,684	$	973,981	$	1,946,586
Estimated Fair Value
Residential mortgage-backed securities	$	3	$	—	$	475,721	$	10,568	$	486,292
States and political subdivisions	351,237		84,787		22,166		882,594		1,340,784
Other	—		1,439		—		—		1,439
Total	$	351,240	$	86,226	$	497,887	$	893,162	$	1,828,515
Available For Sale
Amortized Cost
U. S. Treasury	$	—	$	3,031,706	$	1,433,320	$	191,870	$	4,656,896
Residential mortgage-backed securities	55		11,080		18,743		5,937,925		5,967,803
States and political subdivisions	207,078		1,546,995		902,953		4,526,173		7,183,199
Other	—		—		—		—		42,365
Total	$	207,133	$	4,589,781	$	2,355,016	$	10,655,968	$	17,850,263
Estimated Fair Value
U. S. Treasury	$	—	$	2,957,018	$	1,301,539	$	157,742	$	4,416,299
Residential mortgage-backed securities	55		11,231		18,792		5,305,647		5,335,725
States and political subdivisions	209,138		1,579,097		893,132		4,305,929		6,987,296
Other	—		—		—		—		42,365
Total	$	209,193	$	4,547,346	$	2,213,463	$	9,769,318	$	16,781,685

Investment Income

Premium amortization and discount accretion included in interest income on securities was as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Premium amortization	$	(28,053)	$	(30,541)	$	(57,113)	$	(61,776)
Discount accretion	2,482		705		3,888		1,342
Net (premium amortization) discount accretion	$	(25,571)	$	(29,836)	$	(53,225)	$	(60,434)

Trading Account Securities, at Estimated Fair Value

Trading account securities, at estimated fair value, were as follows:

	June 30, 2022		December 31, 2021
U.S. Treasury	$	24,615	$	24,237
States and political subdivisions	65		925
Total	$	24,680	$	25,162

Net Gains and Losses on Trading Account Securities

Net gains and losses on trading account securities were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Net gain on sales transactions	$	1,012	$	293	$	1,352	$	402
Net mark-to-market gains (losses)	(76)		—		(244)		(69)
Net gain (loss) on trading account securities	$	936	$	293	$	1,108	$	333

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Loans (Tables)

6 Months Ended

Jun. 30, 2022

Receivables [Abstract]

Loans

Loans were as follows:

	June 30, 2022		December 31, 2021
Commercial and industrial	$	5,539,277	$	5,364,954
Energy:
Production	762,625		878,436
Service	121,356		105,901
Other	103,944		93,455
Total energy	987,925		1,077,792
Paycheck Protection Program	91,919		428,882
Commercial real estate:
Commercial mortgages	6,041,606		5,867,062
Construction	1,535,808		1,304,271
Land	478,674		405,277
Total commercial real estate	8,056,088		7,576,610
Consumer real estate:
Home equity loans	352,633		324,157
Home equity lines of credit	603,907		519,098
Other	604,495		567,535
Total consumer real estate	1,561,035		1,410,790
Total real estate	9,617,123		8,987,400
Consumer and other	499,782		477,369
Total loans	$	16,736,026	$	16,336,397

Non-Accrual Loans, Segregated by Class of Loans

Non-accrual loans, segregated by class of loans, were as follows:

	June 30, 2022				December 31, 2021
	Total Non-Accrual		Non-Accrual with No Credit Loss Allowance		Total Non-Accrual		Non-Accrual with No Credit Loss Allowance
Commercial and industrial	$	11,170	$	3,093	$	22,582	$	4,701
Energy	11,114		6,442		14,433		8,533
Paycheck Protection Program	—		—		—		—
Commercial real estate:
Buildings, land and other	11,806		6,419		15,297		13,817
Construction	—		—		948		—
Consumer real estate	1,035		732		440		138
Consumer and other	—		—		13		13
Total	$	35,125	$	16,686	$	53,713	$	27,202

Financing Receivable, Non-Accrual Loans, Segregated by Class of Loan and Year of Origination

The following table presents non-accrual loans as of June 30, 2022 by class and year of origination.

	2022		2021		2020		2019		2018		Prior		Revolving Loans		Revolving Loans Converted to Term		Total
Commercial and industrial	$	—	$	98	$	3,520	$	3,507	$	1,491	$	653	$	108	$	1,793	$	11,170
Energy	5,779		—		—		—		21		—		5,127		187		11,114
Paycheck Protection Program	—		—		—		—		—		—		—		—		—
Commercial real estate:
Buildings, land and other	1,116		7,556		—		229		313		2,592		—		—		11,806
Construction	—		—		—		—		—		—		—		—		—
Consumer real estate	—		—		—		—		—		380		—		655		1,035
Consumer and other	—		—		—		—		—		—		—		—		—
Total	$	6,895	$	7,654	$	3,520	$	3,736	$	1,825	$	3,625	$	5,235	$	2,635	$	35,125

Age Analysis of Past Due Loans, Segregated by Class of Loans

An age analysis of past due loans (including both accruing and non-accruing loans), segregated by class of loans, as of June 30, 2022 was as follows:

	Loans 30-89 Days Past Due		Loans 90 or More Days Past Due		Total Past Due Loans		Current Loans		Total Loans		Accruing Loans 90 or More Days Past Due
Commercial and industrial	$	14,529	$	3,993	$	18,522	$	5,520,755	$	5,539,277	$	3,280
Energy	200		3,275		3,475		984,450		987,925		—
Paycheck Protection Program	5,919		5,063		10,982		80,937		91,919		5,063
Commercial real estate:
Buildings, land and other	17,852		7,441		25,293		6,494,987		6,520,280		781
Construction	832		—		832		1,534,976		1,535,808		—
Consumer real estate	6,921		1,268		8,189		1,552,846		1,561,035		903
Consumer and other	4,443		598		5,041		494,741		499,782		598
Total	$	50,696	$	21,638	$	72,334	$	16,663,692	$	16,736,026	$	10,625

Troubled debt restructurings

Troubled debt restructurings during the six months ended June 30, 2022 and 2021 are set forth in the following table.

	Six Months Ended June 30, 2022				Six Months Ended June 30, 2021
	Balance at Restructure		Balance at Period-End		Balance at Restructure		Balance at Period-End
Energy	$	—	$	—	$	3,817	$	3,817
Commercial real estate:
Buildings, land and other	1,155		1,116		582		579
	$	1,155	$	1,116	$	4,399	$	4,396

Restructured Loans Past Due in Excess of 90 Days on Financing Receivables

Information as of or for the six months ended June 30, 2022 and 2021 related to loans restructured during the preceding twelve months is set forth in the following table.

	June 30, 2022		June 30, 2021
Restructured loans past due in excess of 90 days at period-end:
Number of loans	—		1
Dollar amount of loans	$	—	$	1,322
Restructured loans on non-accrual status at period end	1,116		4,090
Charge-offs of restructured loans:
Recognized in connection with restructuring	—		—
Recognized on previously restructured loans	723		—
Proceeds from sale of restructured loans	1,070		—

Weighted Average Risk Grades for All Commercial Loans by Class and Year of Origination

The following tables present weighted-average risk grades for all commercial loans, by class and year of origination/renewal as of June 30, 2022. Paycheck Protection Program (“PPP”) loans are excluded as such loans are fully guaranteed by the Small Business Administration (“SBA”).

	2022		2021		2020		2019		2018		Prior		Revolving Loans		Revolving Loans Converted to Term		Total		W/A Risk Grade
Commercial and industrial
Risk grades 1-8	$	1,009,520	$	805,675	$	563,122	$	267,129	$	142,114	$	221,192	$	2,213,761	$	54,235	$	5,276,748	6.23
Risk grade 9	12,633		21,474		6,914		9,067		20,961		8,682		79,546		5,662		164,939		9.00
Risk grade 10	5,000		23,293		2,437		705		1,808		255		20,879		2,093		56,470		10.00
Risk grade 11	—		1,651		6,280		9,490		1,556		2,027		4,100		4,846		29,950		11.00
Risk grade 12	—		98		2,569		3,106		1,427		251		108		747		8,306		12.00
Risk grade 13	—		—		951		401		64		402		—		1,046		2,864		13.00
	$	1,027,153	$	852,191	$	582,273	$	289,898	$	167,930	$	232,809	$	2,318,394	$	68,629	$	5,539,277	6.38
W/A risk grade	6.28		7.03		6.10		6.75		7.01		5.79		6.20		7.52		6.38
Energy
Risk grades 1-8	$	312,271	$	111,163	$	6,939	$	6,332	$	3,564	$	5,239	$	446,460	$	49,185	$	941,153	5.57
Risk grade 9	1,660		95		268		1,192		26		—		10,955		39		14,235		9.00
Risk grade 10	—		—		73		515		239		—		—		58		885		10.00
Risk grade 11	9,097		221		541		4,630		885		164		5,000		—		20,538		11.00
Risk grade 12	3,463		—		—		—		21		—		2,771		187		6,442		12.00
Risk grade 13	2,316		—		—		—		—		—		2,356		—		4,672		13.00
	$	328,807	$	111,479	$	7,821	$	12,669	$	4,735	$	5,403	$	467,542	$	49,469	$	987,925	5.82
W/A risk grade	6.09		5.66		7.69		8.63		8.30		7.17		5.46		6.25		5.82
Commercial real estate:
Buildings, land, other
Risk grades 1-8	$	1,101,851	$	1,495,414	$	999,836	$	788,421	$	428,539	$	963,918	$	84,964	$	106,450	$	5,969,393	6.90
Risk grade 9	64,026		27,271		99,934		47,898		20,773		35,908		7,412		2,848		306,070		9.00
Risk grade 10	5,851		17,824		17,104		52,210		20,353		53,622		3,500		—		170,464		10.00
Risk grade 11	162		434		1,269		7,189		8,969		44,318		206		—		62,547		11.00
Risk grade 12	646		6,545		—		229		313		2,592		—		—		10,325		12.00
Risk grade 13	470		1,011		—		—		—		—		—		—		1,481		13.00
	$	1,173,006	$	1,548,499	$	1,118,143	$	895,947	$	478,947	$	1,100,358	$	96,082	$	109,298	$	6,520,280	7.12
W/A risk grade	7.01		7.23		7.16		7.25		7.28		6.95		7.24		6.44		7.12
Construction
Risk grades 1-8	$	276,072	$	662,364	$	179,896	$	100,915	$	631	$	1,804	$	253,781	$	4,247	$	1,479,710	6.86
Risk grade 9	11,295		637		2,670		—		—		401		—		—		15,003		9.00
Risk grade 10	27,992		—		—		13,103		—		—		—		—		41,095		10.00
Risk grade 11	—		—		—		—		—		—		—		—		—		11.00
Risk grade 12	—		—		—		—		—		—		—		—		—		12.00
Risk grade 13	—		—		—		—		—		—		—		—		—		13.00
	$	315,359	$	663,001	$	182,566	$	114,018	$	631	$	2,205	$	253,781	$	4,247	$	1,535,808	6.96
W/A risk grade	7.10		7.12		6.64		8.21		6.21		7.16		6.10		5.01		6.96
Total commercial real estate	$	1,488,365	$	2,211,500	$	1,300,709	$	1,009,965	$	479,578	$	1,102,563	$	349,863	$	113,545	$	8,056,088	7.09
W/A risk grade	7.03		7.19		7.09		7.36		7.28		6.95		6.41		6.39		7.09

Weighted Average Risk Grades for All Commercial Loans by Class

The following tables present weighted average risk grades for all commercial loans by class as of December 31, 2021. Refer to our 2021 Form 10-K for details of these loans by year of origination/renewal.

	Commercial and Industrial			Energy			Commercial Real Estate - Buildings, Land and Other			Commercial Real Estate - Construction			Total Commercial Real Estate
	W/A Risk Grade	Loans		W/A Risk Grade	Loans		W/A Risk Grade	Loans		W/A Risk Grade	Loans		W/A Risk Grade	Loans
Risk grades 1-8	6.01	$	5,063,847	5.78	$	1,008,370	6.91	$	5,574,922	6.99	$	1,262,200	6.92	$	6,837,122
Risk grade 9	9.00	187,870		9.00	36,622		9.00	321,533		9.00	41,123		9.00	362,656
Risk grade 10	10.00	59,137		10.00	1,773		10.00	269,447		10.00	—		10.00	269,447
Risk grade 11	11.00	31,518		11.00	16,594		11.00	91,140		11.00	—		11.00	91,140
Risk grade 12	12.00	12,535		12.00	8,953		12.00	15,097		12.00	748		12.00	15,845
Risk grade 13	13.00	10,047		13.00	5,480		13.00	200		13.00	200		13.00	400
Total	6.22	$	5,364,954	6.06	$	1,077,792	7.22	$	6,272,339	7.06	$	1,304,271	7.19	$	7,576,610

Age analysis of Past Due Consumer Loans by Class and Year of Origination

Information about the payment status of consumer loans, segregated by portfolio segment and year of origination, as of June 30, 2022 was as follows:

	2022		2021		2020		2019		2018		Prior		Revolving Loans		Revolving Loans Converted to Term		Total
Consumer real estate:
Past due 30-89 days	$	140	$	287	$	387	$	668	$	401	$	2,771	$	602	$	1,665	$	6,921
Past due 90 or more days	—		—		—		4		142		875		247		—		1,268
Total past due	140		287		387		672		543		3,646		849		1,665		8,189
Current loans	154,178		324,089		211,133		80,351		43,828		137,836		592,539		8,892		1,552,846
Total	$	154,318	$	324,376	$	211,520	$	81,023	$	44,371	$	141,482	$	593,388	$	10,557	$	1,561,035
Consumer and other:
Past due 30-89 days	$	1,974	$	69	$	64	$	44	$	5	$	45	$	32	$	2,210	$	4,443
Past due 90 or more days	439		—		—		19		11		—		—		129		598
Total past due	2,413		69		64		63		16		45		32		2,339		5,041
Current loans	31,230		30,712		10,798		4,166		1,814		2,042		391,713		22,266		494,741
Total	$	33,643	$	30,781	$	10,862	$	4,229	$	1,830	$	2,087	$	391,745	$	24,605	$	499,782

Revolving Loans Converted to Term [Table Text Block]

Revolving loans that converted to term during the three and six months ended June 30, 2022 and 2021 were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Commercial and industrial	$	16,518	$	22,111	$	21,973	$	31,561
Energy	247		294		247		6,177
Commercial real estate:
Buildings, land and other	10,681		8,195		10,726		31,321
Construction	13		—		4,248		—
Consumer real estate	888		205		1,684		977
Consumer and other	1,792		1,961		5,868		5,696
Total	$	30,139	$	32,766	$	44,746	$	75,732

Financing Receivable, Allowance for Credit Loss By Loan Class Calculated in Accordance With CECL Methodology

The following table presents details of the allowance for credit losses on loans segregated by loan portfolio segment as of June 30, 2022 and December 31, 2021. No allowance for credit losses has been recognized for PPP loans as such loans are fully guaranteed by the SBA.

June 30, 2022	Commercial and Industrial		Energy		Commercial Real Estate		Consumer Real Estate		Consumer and Other		Total
Modeled expected credit losses	$	48,776	$	6,106	$	20,093	$	6,639	$	9,609	$	91,223
Q-Factor and other qualitative adjustments	35,134		3,989		95,532		133		2,526		137,314
Specific allocations	3,360		6,172		1,481		82		—		11,095
Total	$	87,270	$	16,267	$	117,106	$	6,854	$	12,135	$	239,632
December 31, 2021
Modeled expected credit losses	$	46,946	$	6,363	$	16,676	$	6,484	$	6,397	$	82,866
Q-Factor and other qualitative adjustments	14,609		5,374		127,860		65		1,440		149,348
Specific allocations	10,536		5,480		400		36		—		16,452
Total	$	72,091	$	17,217	$	144,936	$	6,585	$	7,837	$	248,666

Activity in Allowance for Loan Losses by Portfolio Segment

The following table details activity in the allowance for credit losses on loans by portfolio segment for the three and six months ended June 30, 2022 and 2021. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. No allowance for credit losses has been recognized for PPP loans as such loans are fully guaranteed by the SBA.

	Commercial and Industrial		Energy		Commercial Real Estate		Consumer Real Estate		Consumer and Other		Total
Three months ended:
June 30, 2022
Beginning balance	$	87,026	$	15,422	$	128,954	$	6,359	$	9,074	$	246,835
Credit loss expense (benefit)	942		427		(12,232)		583		5,884		(4,396)
Charge-offs	(1,891)		—		—		(131)		(5,322)		(7,344)
Recoveries	1,193		418		384		43		2,499		4,537
Net charge-offs	(698)		418		384		(88)		(2,823)		(2,807)
Ending balance	$	87,270	$	16,267	$	117,106	$	6,854	$	12,135	$	239,632
June 30, 2021
Beginning balance	$	70,892	$	33,472	$	144,440	$	5,636	$	6,818	$	261,258
Credit loss expense (benefit)	(5,901)		(5,527)		3,654		611		2,784		(4,379)
Charge-offs	(685)		—		(137)		(388)		(3,882)		(5,092)
Recoveries	965		65		36		295		2,140		3,501
Net charge-offs	280		65		(101)		(93)		(1,742)		(1,591)
Ending balance	$	65,271	$	28,010	$	147,993	$	6,154	$	7,860	$	255,288

	Commercial and Industrial		Energy		Commercial Real Estate		Consumer Real Estate		Consumer and Other		Total
Six months ended:
June 30, 2022
Beginning balance	$	72,091	$	17,217	$	144,936	$	6,585	$	7,837	$	248,666
Credit loss expense (benefit)	18,503		(1,617)		(27,841)		557		10,466		68
Charge-offs	(5,346)		(371)		(702)		(362)		(11,093)		(17,874)
Recoveries	2,022		1,038		713		74		4,925		8,772
Net (charge-offs) recoveries	(3,324)		667		11		(288)		(6,168)		(9,102)
Ending balance	$	87,270	$	16,267	$	117,106	$	6,854	$	12,135	$	239,632
June 30, 2021
Beginning balance	$	73,843	$	39,553	$	134,892	$	7,926	$	6,963	$	263,177
Credit loss expense (benefit)	(7,866)		(11,328)		12,576		(2,111)		4,350		(4,379)
Charge-offs	(2,874)		(1,433)		(137)		(672)		(7,942)		(13,058)
Recoveries	2,168		1,218		662		1,011		4,489		9,548
Net (charge-offs) recoveries	(706)		(215)		525		339		(3,453)		(3,510)
Ending balance	$	65,271	$	28,010	$	147,993	$	6,154	$	7,860	$	255,288

Investment in Loans Related to Allowance for Loan Losses by Portfolio Segment Disaggregated Based on Impairment Methodology

The following table presents loans that were evaluated for expected credit losses on an individual basis and the related specific allocations, by loan portfolio segment, as of June 30, 2022 and December 31, 2021.

	June 30, 2022				December 31, 2021
	Loan Balance		Specific Allocations		Loan Balance		Specific Allocations
Commercial and industrial	$	12,539	$	3,360	$	24,523	$	10,536
Energy	15,906		6,172		16,393		5,480
Paycheck Protection Program	—		—		—		—
Commercial real estate:
Buildings, land and other	21,205		1,481		24,670		200
Construction	—		—		948		200
Consumer real estate	934		82		303		36
Consumer and other	—		—		—		—
Total	$	50,584	$	11,095	$	66,837	$	16,452

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Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets and Goodwill

Goodwill and other intangible assets are presented in the table below.

	June 30, 2022		December 31, 2021
Goodwill	$	654,952	$	654,952
Other intangible assets:
Core deposits	$	479	$	718
Customer relationships	110		148
	$	589	$	866

Estimated Aggregate Future Amortization Expense for Intangible Assets

The estimated aggregate future amortization expense for intangible assets remaining as of June 30, 2022 is as follows:

Remainder of 2022	$	204
2023	282
2024	87
2025	11
2026	5
	$	589

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Deposits (Tables)

6 Months Ended

Jun. 30, 2022

Disclosure Text Block [Abstract]

Deposit Liabilities, Type

Deposits were as follows:

	June 30, 2022		December 31, 2021
Non-interest-bearing demand deposits	$	18,783,931	$	18,423,018
Interest-bearing deposits:
Savings and interest checking	12,309,066		11,930,959
Money market accounts	12,989,902		11,228,815
Time accounts	1,518,866		1,112,904
Total interest-bearing deposits	26,817,834		24,272,678
Total deposits	$	45,601,765	$	42,695,696

Additional Information About Corporation's Deposits

The following table presents additional information about our deposits:

	June 30, 2022		December 31, 2021
Deposits from foreign sources (primarily Mexico)	$	1,090,169	$	993,479
Non-interest-bearing public funds deposits	681,205		1,235,026
Interest-bearing public funds deposits	837,427		810,863
Total deposits not covered by deposit insurance	25,810,407		24,125,359
Time deposits not covered by deposit insurance	364,486		238,608

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Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2022

Commitments and Contingencies Disclosure [Abstract]

Financial Instruments with Off-Balance-Sheet Risk

Financial instruments with off-balance-sheet risk were as follows:

	June 30, 2022		December 31, 2021
Commitments to extend credit	$	10,771,940	$	10,420,142
Standby letters of credit	327,847		238,690
Deferred standby letter of credit fees	1,890		2,072

Commitments, Off-Balance-Sheet, Allowance for Credit Losses [Table Text Block]

The following table details activity in the allowance for credit losses on off-balance-sheet credit exposures.

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Beginning balance	$	45,850	$	44,217	$	50,314	$	44,152
Credit loss expense (benefit)	4,396		4,379		(68)		4,444
Ending balance	$	50,246	$	48,596	$	50,246	$	48,596

Lease Commitments, Components of Lease Expense [Table Text Block]

We lease certain office facilities and office equipment under operating leases. The components of total lease expense were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Amortization of lease right-of-use assets	$	8,209	$	8,129	$	16,314	$	16,412
Short-term lease expense	490		530		1,103		734
Non-lease components (including taxes, insurance, common maintenance, etc.)	2,748		2,337		5,768		5,341
Total	$	11,447	$	10,996	$	23,185	$	22,487

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Capital and Regulatory Matters (Tables)

6 Months Ended

Jun. 30, 2022

Banking Regulation, Common Equity Tier One Risk-Based Capital [Abstract]

Actual and Required Capital Ratios

The following table presents actual and required capital ratios as of June 30, 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. See the 2021 Form 10-K for a more detailed discussion of the Basel III Capital Rules.

	Actual				Minimum Capital Required - Basel III				Required to be Considered Well Capitalized
	Capital Amount		Ratio		Capital Amount		Ratio		Capital Amount		Ratio
June 30, 2022
Common Equity Tier 1 to Risk-Weighted Assets
Cullen/Frost	$	3,485,759	12.64	%	$	1,930,703	7.00	%	$	1,792,796	6.50	%
Frost Bank	3,423,585		12.42		1,929,368		7.00		1,791,556		6.50
Tier 1 Capital to Risk-Weighted Assets
Cullen/Frost	3,631,211		13.17		2,344,425		8.50		2,206,518		8.00
Frost Bank	3,423,585		12.42		2,342,804		8.50		2,204,992		8.00
Total Capital to Risk-Weighted Assets
Cullen/Frost	4,069,206		14.75		2,896,055		10.50		2,758,148		10.00
Frost Bank	3,661,580		13.28		2,894,052		10.50		2,756,240		10.00
Leverage Ratio
Cullen/Frost	3,631,211		7.03		2,067,513		4.00		2,584,391		5.00
Frost Bank	3,423,585		6.62		2,067,942		4.00		2,584,928		5.00
December 31, 2021
Common Equity Tier 1 to Risk-Weighted Assets
Cullen/Frost	$	3,371,043	13.13	%	$	1,796,549	7.00	%	$	1,668,224	6.50	%
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		2,053,198		8.00
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		2,396,917		5.00
Frost Bank	3,261,532		6.80		1,917,679		4.00		2,397,099		5.00

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Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts and Estimated Fair Values of Interest Rate Derivative Contracts Outstanding

The notional amounts and estimated fair values of interest rate derivative contracts are presented in the following table. The fair values of interest rate derivative contracts are estimated utilizing internal valuation methods with observable market data inputs, or as determined by the Chicago Mercantile Exchange (“CME”) for centrally cleared derivative contracts. CME rules legally characterize variation margin payments for centrally cleared derivatives as settlements of the derivatives' exposure rather than collateral. As a result, the variation margin payment and the related derivative instruments are considered a single unit of account for accounting and financial reporting purposes. Variation margin, as determined by the CME, is settled daily. As a result, derivative contracts that clear through the CME have an estimated fair value of zero as of June 30, 2022 and December 31, 2021.

	June 30, 2022				December 31, 2021
	Notional Amount		Estimated Fair Value		Notional Amount		Estimated Fair Value
Derivatives designated as hedges of fair value:
Financial institution counterparties:
Loan/lease interest rate swaps – assets	$	1,743	$	18	$	—	$	—
Loan/lease interest rate swaps – liabilities	—		—		2,426		(34)
Non-hedging interest rate derivatives:
Financial institution counterparties:
Loan/lease interest rate swaps – assets	904,706		27,908		247,592		1,207
Loan/lease interest rate swaps – liabilities	244,663		(2,489)		928,756		(19,142)
Loan/lease interest rate caps – assets	269,389		10,209		270,431		3,239
Customer counterparties:
Loan/lease interest rate swaps – assets	244,663		3,350		928,756		39,864
Loan/lease interest rate swaps – liabilities	904,706		(45,542)		247,592		(2,846)
Loan/lease interest rate caps – liabilities	269,389		(10,209)		270,431		(3,239)

Schedule of Weighted-Average Rates Paid and Received for Interest Rate Swaps Outstanding

The weighted-average rates paid and received for interest rate swaps outstanding at June 30, 2022 were as follows:

	Weighted-Average
	Interest Rate Paid		Interest Rate Received
Interest rate swaps:
Fair value hedge loan/lease interest rate swaps	1.58	%	1.06	%
Non-hedging interest rate swaps – financial institution counterparties	3.71		2.87
Non-hedging interest rate swaps – customer counterparties	2.87		3.71

Schedule of Notional Amounts and Estimated Fair Values of Commodity Derivative Positions

The notional amounts and estimated fair values of non-hedging commodity swap and option derivative positions outstanding are presented in the following table. We obtain dealer quotations and use internal valuation methods with observable market data inputs to value our commodity derivative positions.

		June 30, 2022			December 31, 2021
	Notional Units	Notional Amount	Estimated Fair Value		Notional Amount	Estimated Fair Value
Financial institution counterparties:
Oil – assets	Barrels	4,173	$	20,653	4,809	$	14,721
Oil – liabilities	Barrels	9,125	(181,161)		7,032	(73,594)
Natural gas – assets	MMBTUs	11,753	3,181		15,947	4,143
Natural gas – liabilities	MMBTUs	21,557	(38,990)		29,446	(21,249)
Customer counterparties:
Oil – assets	Barrels	9,606	182,274		7,046	74,437
Oil – liabilities	Barrels	3,692	(20,306)		4,796	(14,294)
Natural gas – assets	MMBTUs	21,557	39,110		29,446	21,456
Natural gas – liabilities	MMBTUs	11,753	(3,181)		15,947	(4,124)

Schedule of Foreign Exchange Contracts, Statement of Financial Position

The notional amounts and fair values of open foreign currency forward and option contracts were as follows:

		June 30, 2022			December 31, 2021
	Notional Currency	Notional Amount	Estimated Fair Value		Notional Amount	Estimated Fair Value
Financial institution counterparties:
Forward and option contracts – assets	EUR	6,400	$	16	1,900	$	29
Forward and option contracts – assets	CAD	658	9		658	—
Forward and option contracts – liabilities	EUR	6,400	(174)		—	—
Customer counterparties:
Forward and option contracts – assets	EUR	6,400	174		—	—
Forward and option contracts – assets	CAD	—	—		658	4
Forward and option contracts – liabilities	EUR	6,400	(16)		1,900	(55)
Forward and option contracts – liabilities	CAD	658	(5)		—	—

Schedule of Amounts Related to Interest Rate Derivatives Designated as Hedges of Fair Value

Amounts included in the consolidated statements of income related to interest rate derivatives designated as hedges of fair value were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Commercial loan/lease interest rate swaps:
Amount of gain (loss) included in interest income on loans	$	(5)	$	(25)	$	(18)	$	(53)
Amount of (gain) loss included in other non-interest expense	3		2		5		5

Schedule of Amounts Related to Non-Hedging Interest Rate and Commodity Derivatives

Amounts included in the consolidated statements of income related to non-hedge related derivative instruments are presented in the table below.

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Non-hedging interest rate derivatives:
Other non-interest income	$	515	$	141	$	1,031	$	1,728
Other non-interest expense	—		—		—		(1)
Non-hedging commodity derivatives:
Other non-interest income	649		969		1,578		2,123
Non-hedging foreign currency derivatives:
Other non-interest income	45		—		63		30

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Balance Sheet Offsetting (Tables)

6 Months Ended

Jun. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financial Instruments Eligible for Offset Consolidated Balance Sheet

Information about financial instruments that are eligible for offset in the consolidated balance sheet as of June 30, 2022 is presented in the following tables.

	Gross Amount Recognized		Gross Amount Offset		Net Amount Recognized
June 30, 2022
Financial assets:
Derivatives:
Loan/lease interest rate swaps and caps	$	38,135	$	—	$	38,135
Commodity swaps and options	23,834		—		23,834
Foreign currency forward contracts	25		—		25
Total derivatives	61,994		—		61,994
Resell agreements	9,650		—		9,650
Total	$	71,644	$	—	$	71,644
Financial liabilities:
Derivatives:
Loan/lease interest rate swaps and caps	$	2,489	$	—	$	2,489
Commodity swaps and options	220,151		—		220,151
Foreign currency forward contracts	174		—		174
Total derivatives	222,814		—		222,814
Repurchase agreements	1,664,685		—		1,664,685
Total	$	1,887,499	$	—	$	1,887,499

Information about financial instruments that are eligible for offset in the consolidated balance sheet as of December 31, 2021 is presented in the following tables.

	Gross Amount Recognized		Gross Amount Offset		Net Amount Recognized
December 31, 2021
Financial assets:
Derivatives:
Loan/lease interest rate swaps and caps	$	4,446	$	—	$	4,446
Commodity swaps and options	18,864		—		18,864
Total derivatives	23,339		—		23,339
Resell agreements	7,903		—		7,903
Total	$	31,242	$	—	$	31,242
Financial liabilities:
Derivatives:
Loan/lease interest rate swaps and caps	$	19,176	$	—	$	19,176
Commodity swaps and options	94,843		—		94,843
Total derivatives	114,019		—		114,019
Repurchase agreements	2,740,799		—		2,740,799
Total	$	2,854,818	$	—	$	2,854,818

Financial Instruments Derivative Assets Liabilities and Resell Agreements Net of Amount Not Offset

			Gross Amounts Not Offset
	Net Amount Recognized		Financial Instruments		Collateral		Net Amount
June 30, 2022
Financial assets:
Derivatives:
Counterparty A	$	41	$	(41)	$	—	$	—
Counterparty B	25,962		(25,962)		—		—
Counterparty C	16		(16)		—		—
Other counterparties	35,975		(25,533)		(10,442)		—
Total derivatives	61,994		(51,552)		(10,442)		—
Resell agreements	9,650		—		(9,650)		—
Total	$	71,644	$	(51,552)	$	(20,092)	$	—
Financial liabilities:
Derivatives:
Counterparty A	$	1,726	$	(41)	$	(1,571)	$	114
Counterparty B	50,901		(25,962)		(24,939)		—
Counterparty C	174		(16)		(10)		148
Other counterparties	170,013		(25,533)		(144,463)		17
Total derivatives	222,814		(51,552)		(170,983)		279
Repurchase agreements	1,664,685		—		(1,664,685)		—
Total	$	1,887,499	$	(51,552)	$	(1,835,668)	$	279

			Gross Amounts Not Offset
	Net Amount Recognized		Financial Instruments		Collateral		Net Amount
December 31, 2021
Financial assets:
Derivatives:
Counterparty A	$	6	$	(6)	$	—	$	—
Counterparty B	7,655		(7,655)		—		—
Other counterparties	15,678		(15,678)		—		—
Total derivatives	23,339		(23,339)		—		—
Resell agreements	7,903		—		(7,903)		—
Total	$	31,242	$	(23,339)	$	(7,903)	$	—
Financial liabilities:
Derivatives:
Counterparty A	$	3,870	$	(6)	$	(3,864)	$	—
Counterparty B	28,130		(7,655)		(20,475)		—
Counterparty C	9		—		(9)		—
Other counterparties	82,010		(15,678)		(66,225)		107
Total derivatives	114,019		(23,339)		(90,573)		107
Repurchase agreements	2,740,799		—		(2,740,799)		—
Total	$	2,854,818	$	(23,339)	$	(2,831,372)	$	107

Remaining Contractual Maturity of the Securities Sold Under Agreement [Table Text Block]

The remaining contractual maturity of repurchase agreements in the consolidated balance sheets as of June 30, 2022 and December 31, 2021 is presented in the following tables.

	Remaining Contractual Maturity of the Agreements
	Overnight and Continuous		Up to 30 Days		30-90 Days		Greater than 90 Days		Total
June 30, 2022
Repurchase agreements:
U.S. Treasury	$	834,063	$	—	$	—	$	—	$	834,063
Residential mortgage-backed securities	830,622		—		—		—		830,622
Total borrowings	$	1,664,685	$	—	$	—	$	—	$	1,664,685
Gross amount of recognized liabilities for repurchase agreements									$	1,664,685
Amounts related to agreements not included in offsetting disclosures above									$	—
December 31, 2021
Repurchase agreements:
U.S. Treasury	$	1,342,591	$	—	$	—	$	—	$	1,342,591
Residential mortgage-backed securities	1,398,208		—		—		—		1,398,208
Total borrowings	$	2,740,799	$	—	$	—	$	—	$	2,740,799
Gross amount of recognized liabilities for repurchase agreements									$	2,740,799
Amounts related to agreements not included in offsetting disclosures above									$	—

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Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2022

Share-based Payment Arrangement [Abstract]

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

A combined summary of activity in our active stock plans is presented in the table below. Performance stock units outstanding are presented assuming attainment of the maximum payout rate as set forth by the performance criteria. As of June 30, 2022, there were 788,070 shares remaining available for grant for future stock-based compensation awards.

	Deferred Stock Units Outstanding			Non-Vested Stock Units Outstanding			Performance Stock Units Outstanding			Stock Options Outstanding
	Number of Units	Weighted- Average Fair Value at Grant		Number of Units	Weighted- Average Fair Value at Grant		Number of Units	Weighted- Average Fair Value at Grant		Number of Shares	Weighted- Average Exercise Price
Balance, January 1, 2022	56,301	$	79.21	449,337	$	93.05	202,460	$	84.71	877,681	$	69.02
Authorized	—	—		—	—		—	—		—	—
Granted	5,382	133.67		3,460	132.72		—	—		—	—
Exercised/vested	(16,022)	74.89		—	—		(25,180)	87.18		(103,060)	62.97
Forfeited/expired	—	—		(3,167)	94.57		(16,058)	87.18		—	—
Balance, June 30, 2022	45,661	87.15		449,630	93.35		161,222	84.08		774,621	69.83

Shares Issued in Connection with Stock Compensation Awards

Shares issued in connection with stock compensation awards along with other related information were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
New shares issued from available authorized shares	—		—		—		—
Shares issued from available treasury stock	28,832		114,252		144,262		628,076
Proceeds from stock option exercises	$	751	$	7,285	$	6,490	$	36,682

Share-based Payment Arrangement, Cost by Plan

Stock-based compensation expense or benefit and the related income tax benefit is presented in the following table. The service period for performance stock units granted each year begins on January 1 of the following year.

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Non-vested stock units	$	2,291	$	1,768	$	4,649	$	3,651
Deferred stock units	720		700		720		700
Performance stock units	407		777		161		1,420
Total	$	3,418	$	3,245	$	5,530	$	5,771
Income tax benefit	$	612	$	514	$	1,320	$	881

Unrecognized Stock-Based Compensation Expense

Unrecognized stock-based compensation expense at June 30, 2022 is presented in the table below. Unrecognized stock-based compensation expense related to performance stock units is presented assuming attainment of the maximum payout rate as set forth by the performance criteria.

Non-vested stock units	$	13,954
Performance stock units	8,256
Total	$	22,210

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Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Basic and Diluted Earnings Per Common Share

The following table presents a reconciliation of net income available to common shareholders, net earnings allocated to common stock and the number of shares used in the calculation of basic and diluted earnings per common share.

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Net income	$	119,114	$	118,068	$	218,216	$	234,083
Less: Preferred stock dividends	1,669		1,669		3,338		3,820
Net income available to common shareholders	117,445		116,399		214,878		230,263
Less: Earnings allocated to participating securities	1,036		1,141		1,888		2,307
Net earnings allocated to common stock	$	116,409	$	115,258	$	212,990	$	227,956
Distributed earnings allocated to common stock	$	48,092	$	45,824	$	96,143	$	91,484
Undistributed earnings allocated to common stock	68,317		69,434		116,847		136,472
Net earnings allocated to common stock	$	116,409	$	115,258	$	212,990	$	227,956
Weighted-average shares outstanding for basic earnings per common share	64,112,828		63,606,340		64,082,185		63,457,245
Dilutive effect of stock compensation	354,401		495,819		382,395		511,288
Weighted-average shares outstanding for diluted earnings per common share	64,467,229		64,102,159		64,464,580		63,968,533

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Defined Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2022

Retirement Benefits [Abstract]

Net Periodic Cost (Benefit)

The components of the combined net periodic expense (benefit) for our defined benefit pension plans are presented in the table below.

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Expected return on plan assets, net of expenses	$	(3,492)	$	(3,210)	$	(6,983)	$	(6,420)
Interest cost on projected benefit obligation	1,004		836		2,008		1,671
Net amortization and deferral	741		1,529		1,482		3,058
Net periodic expense (benefit)	$	(1,747)	$	(845)	$	(3,493)	$	(1,691)

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Income Taxes (Tables)

6 Months Ended

Jun. 30, 2022

Income Tax Disclosure [Abstract]

Income Tax Expense

Income tax expense was as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Current income tax expense (benefit)	$	22,646		$	14,065		$	35,705		$	17,790
Deferred income tax expense (benefit)	(1,972)			1,016			(2,404)			5,188
Income tax expense, as reported	$	20,674		$	15,081		$	33,301		$	22,978
Effective tax rate	14.8		%	11.3		%	13.2		%	8.9		%

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Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

Comprehensive Income (Loss)

The before and after tax amounts allocated to each component of other comprehensive income (loss) are presented in the following table. Reclassification adjustments related to securities available for sale are included in net gain (loss) on securities transactions in the accompanying consolidated statements of income. Reclassification adjustments related to defined-benefit post-retirement benefit plans are included in the computation of net periodic pension expense (see Note 12 – Defined Benefit Plans).

	Three Months Ended June 30, 2022						Three Months Ended June 30, 2021
	Before Tax Amount		Tax  Expense, (Benefit)		Net of  Tax Amount		Before Tax Amount		Tax  Expense, (Benefit)		Net of  Tax Amount
Securities available for sale and transferred securities:
Change in net unrealized gain/loss during the period	$	(636,523)	$	(133,670)	$	(502,853)	$	30,668	$	6,441	$	24,227
Change in net unrealized gain on securities transferred to held to maturity	(189)		(40)		(149)		(245)		(52)		(193)
Reclassification adjustment for net (gains) losses included in net income	—		—		—		—		—		—
Total securities available for sale and transferred securities	(636,712)		(133,710)		(503,002)		30,423		6,389		24,034
Defined-benefit post-retirement benefit plans:
Reclassification adjustment for net amortization of actuarial gain/loss included in net income as a component of net periodic cost (benefit)	741		155		586		1,529		321		1,208
Total defined-benefit post-retirement benefit plans	741		155		586		1,529		321		1,208
Total other comprehensive income (loss)	$	(635,971)	$	(133,555)	$	(502,416)	$	31,952	$	6,710	$	25,242
	Six Months Ended June 30, 2022						Six Months Ended June 30, 2021
	Before Tax Amount		Tax  Expense, (Benefit)		Net of  Tax Amount		Before Tax Amount		Tax  Expense, (Benefit)		Net of  Tax Amount
Securities available for sale and transferred securities:
Change in net unrealized gain/loss during the period	$	(1,547,318)	$	(324,937)	$	(1,222,381)	$	(129,111)	$	(27,113)	$	(101,998)
Change in net unrealized gain on securities transferred to held to maturity	(398)		(84)		(314)		(504)		(106)		(398)
Reclassification adjustment for net (gains) losses included in net income	—		—		—		—		—		—
Total securities available for sale and transferred securities	(1,547,716)		(325,021)		(1,222,695)		(129,615)		(27,219)		(102,396)
Defined-benefit post-retirement benefit plans:
Reclassification adjustment for net amortization of actuarial gain/loss included in net income as a component of net periodic expense (benefit)	1,482		311		1,171		3,058		642		2,416
Total defined-benefit post-retirement benefit plans	1,482		311		1,171		3,058		642		2,416
Total other comprehensive income (loss)	$	(1,546,234)	$	(324,710)	$	(1,221,524)	$	(126,557)	$	(26,577)	$	(99,980)

Schedule of Accumulated Other Comprehensive Income (Loss)

Activity in accumulated other comprehensive income (loss), net of tax, was as follows:

	Securities Available For Sale		Defined Benefit Plans		Accumulated Other Comprehensive Income
Balance January 1, 2022	$	380,209	$	(32,891)	$	347,318
Other comprehensive income (loss) before reclassifications	(1,222,695)		—		(1,222,695)
Reclassification of amounts included in net income	—		1,171		1,171
Net other comprehensive income (loss) during period	(1,222,695)		1,171		(1,221,524)
Balance at June 30, 2022	$	(842,486)	$	(31,720)	$	(874,206)
Balance January 1, 2021	$	563,801	$	(50,831)	$	512,970
Other comprehensive income (loss) before reclassifications	(102,396)		—		(102,396)
Reclassification of amounts included in net income	—		2,416		2,416
Net other comprehensive income (loss) during period	(102,396)		2,416		(99,980)
Balance at June 30, 2021	$	461,405	$	(48,415)	$	412,990

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Operating Segments (Tables)

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Summary of Operating Results by Segment

Summarized operating results by segment were as follows:

	Banking		Frost  Wealth Advisors		Non-Banks		Consolidated
Three months ended:
June 30, 2022
Net interest income (expense)	$	289,186	$	958	$	(1,936)	$	288,208
Credit loss expense	1		(1)		—		—
Non-interest income	55,397		43,054		(524)		97,927
Non-interest expense	211,044		33,158		2,145		246,347
Income (loss) before income taxes	133,538		10,855		(4,605)		139,788
Income tax expense (benefit)	19,821		2,279		(1,426)		20,674
Net income (loss)	113,717		8,576		(3,179)		119,114
Preferred stock dividends	—		—		1,669		1,669
Net income (loss) available to common shareholders	$	113,717	$	8,576	$	(4,848)	$	117,445
Revenues from (expenses to) external customers	$	344,583	$	44,012	$	(2,460)	$	386,135
June 30, 2021
Net interest income (expense)	$	258,450	$	508	$	(1,802)	$	257,156
Credit loss expense (benefit)	—		—		—		—
Non-interest income	48,944		42,534		(231)		91,247
Non-interest expense	183,109		30,014		2,131		215,254
Income (loss) before income taxes	124,285		13,028		(4,164)		133,149
Income tax expense (benefit)	13,605		2,736		(1,260)		15,081
Net income (loss)	110,680		10,292		(2,904)		118,068
Preferred stock dividends	—		—		1,669		1,669
Net income (loss) available to common shareholders	$	110,680	$	10,292	$	(4,573)	$	116,399
Revenues from (expenses to) external customers	$	307,394	$	43,042	$	(2,033)	$	348,403
Six months ended:
June 30, 2022
Net interest income (expense)	$	539,305	$	1,658	$	(3,684)	$	537,279
Credit loss expense (benefit)	—		—		—		—
Non-interest income	114,103		86,283		(1,069)		199,317
Non-interest expense	417,582		64,068		3,429		485,079
Income (loss) before income taxes	235,826		23,873		(8,182)		251,517
Income tax expense (benefit)	30,835		5,013		(2,547)		33,301
Net income (loss)	204,991		18,860		(5,635)		218,216
Preferred stock dividends	—		—		3,338		3,338
Net income (loss) available to common shareholders	$	204,991	$	18,860	$	(8,973)	$	214,878
Revenues from (expenses to) external customers	$	653,408	$	87,941	$	(4,753)	$	736,596
June 30, 2021
Net interest income (expense)	$	500,655	$	994	$	(3,612)	$	498,037
Credit loss expense	63		—		—		63
Non-interest income	102,724		82,143		(384)		184,483
Non-interest expense	362,260		59,951		3,185		425,396
Income (loss) before income taxes	241,056		23,186		(7,181)		257,061
Income tax expense (benefit)	20,782		4,869		(2,673)		22,978
Net income (loss)	220,274		18,317		(4,508)		234,083
Preferred stock dividends	—		—		3,820		3,820
Net income (loss) available to common shareholders	$	220,274	$	18,317	$	(8,328)	$	230,263
Revenues from (expenses to) external customers	$	603,379	$	83,137	$	(3,996)	$	682,520

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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Financial Assets and Financial Liabilities Measured at Fair Value on Recurring Basis

The tables below summarize financial assets and financial liabilities measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021, segregated by the level of the valuation inputs within the fair value hierarchy of ASC Topic 820 utilized to measure fair value.

	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
June 30, 2022
Securities available for sale:
U.S. Treasury	$	4,416,299	$	—	$	—	$	4,416,299
Residential mortgage-backed securities	—		5,335,725		—		5,335,725
States and political subdivisions	—		6,987,296		—		6,987,296
Other	—		42,365		—		42,365
Trading account securities:
U.S. Treasury	24,615		—		—		24,615
States and political subdivisions	—		65		—		65
Derivative assets:
Interest rate swaps, caps and floors	—		41,485		—		41,485
Commodity swaps and options	—		245,218		—		245,218
Foreign currency forward contracts	199		—		—		199
Derivative liabilities:
Interest rate swaps, caps and floors	—		58,240		—		58,240
Commodity swaps and options	—		243,638		—		243,638
Foreign currency forward contracts	195		—		—		195
December 31, 2021
Securities available for sale:
U.S. Treasury	$	2,179,433	$	—	$	—	$	2,179,433
Residential mortgage-backed securities	—		4,066,265		—		4,066,265
States and political subdivisions	—		7,636,571		—		7,636,571
Other	—		42,359		—		42,359
Trading account securities:
U.S. Treasury	24,237		—		—		24,237
States and political subdivisions	—		925		—		925
Derivative assets:
Interest rate swaps, caps and floors	—		44,310		—		44,310
Commodity swaps and options	—		114,757		—		114,757
Foreign currency forward contracts	33		—		—		33
Derivative liabilities:
Interest rate swaps, caps and floors	—		25,261		—		25,261
Commodity swaps and options	—		113,261		—		113,261
Foreign currency forward contracts	55		—		—		55

Impaired Loans Remeasured And Reported At Fair Value Specific Valuation Allowance Allocation Method Of Underlying Collateral [Table Text Block]

The following table presents collateral dependent loans that were remeasured and reported at fair value through a specific allocation of the allowance for credit losses on loans based upon the fair value of the underlying collateral during the reported periods.

	Six Months Ended June 30, 2022				Six Months Ended June 30, 2021
	Level 2		Level 3		Level 2		Level 3
Carrying value before allocations	$	5,454	$	3,614	$	3,399	$	19,423
Specific (allocations) reversals of prior allocations	(1,327)		6,877		(336)		(3,273)
Fair value	$	4,127	$	10,491	$	3,063	$	16,150

Estimated Fair Values of Financial Instruments

The estimated fair values of financial instruments that are reported at amortized cost in our consolidated balance sheets, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value, were as follows:

	June 30, 2022				December 31, 2021
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial assets:
Level 2 inputs:
Cash and cash equivalents	$	13,658,585	$	13,658,585	$	16,583,000	$	16,583,000
Securities held to maturity	1,946,428		1,828,515		1,749,179		1,809,143
Cash surrender value of life insurance policies	189,823		189,823		190,139		190,139
Accrued interest receivable	194,049		194,049		179,111		179,111
Level 3 inputs:
Loans, net	16,496,394		16,126,497		16,087,731		16,079,454
Financial liabilities:
Level 2 inputs:
Deposits	45,601,765		45,584,113		42,695,696		41,343,426
Federal funds purchased	43,200		43,200		25,925		25,925
Repurchase agreements	1,664,685		1,664,685		2,740,799		2,740,799
Junior subordinated deferrable interest debentures	123,040		123,712		123,011		123,712
Subordinated notes	99,256		99,626		99,178		111,430
Accrued interest payable	6,059		6,059		3,026		3,026

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Significant Accounting Policies - Additional Cash Flow Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Accounting Policies [Abstract]
Cash paid for interest	$ 22,551	$ 15,936
Cash paid for income taxes	45,500	15,400
Unsettled securities transactions	110,623	358,752
Loans foreclosed and transferred to other real estate owned and foreclosed assets	0	3,251
Right-of-use lease assets obtained in exchange for lessee operating lease liabilities	8,857	1,552
Treasury stock issued to 401(k) stock purchase plan	$ 0	$ 1,749

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Securities - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Schedule Of Marketable Securities [Line Items]
AOCI, Debt Securities, Available-for-sale, Adjustment, Pre Tax	$ 2,100		$ 2,100		$ 2,500
Net unamortized unrealized gain on transferred securities included in accumulated other comprehensive income, net of tax	$ 1,700		$ 1,700		2,000
Percent Municipal Bond Portfolio Issued By Political Subdivision Or Agencies Within State Of Texas Guaranteed By Texas Permanent School Fund Or Have Been Pre-Refunded	75.30%		75.30%
Debt Securities, Available-for-sale, Allowance for Credit Loss	$ 0		$ 0		0
Proceeds from Sale of Held-to-maturity Securities	0	$ 0	0	$ 0
Proceeds from Sale of Debt Securities, Available-for-sale	0	$ 0	0	$ 0
Held-to-maturity Securities [Member]
Schedule Of Marketable Securities [Line Items]
Carry value of securities pledged	245,500		245,500		642,300
Accrued interest receivable	18,000		18,000		18,400
Available-for-sale Securities [Member]
Schedule Of Marketable Securities [Line Items]
Carry value of securities pledged	4,400,000		4,400,000		5,800,000
Accrued interest receivable	$ 131,300		$ 131,300		$ 120,500

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Securities Securities - Amortized Cost, Allowance for Credit Losses and Estimated Fair Value of Securities Held to Maturity (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Schedule of Investments [Line Items]
Held to Maturity, Amortized Cost	$ 1,946,586	$ 1,749,337
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain	3,956	59,907
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss	122,027	101
Debt Securities, Held-to-maturity, Fair Value	1,828,515	1,809,143
Securities, held-to-maturity, allowance for credit loss	(158)	(158)
Securities held to maturity, net of allowance for credit losses of $158 at June 30, 2022 and $158 at December 31, 2021	1,946,428	1,749,179
Residential Mortgage Backed Securities [Member]
Schedule of Investments [Line Items]
Held to Maturity, Amortized Cost	526,675	527,264
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain	0	18,766
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss	40,383	0
Debt Securities, Held-to-maturity, Fair Value	486,292	546,030
Securities, held-to-maturity, allowance for credit loss	0	0
Securities held to maturity, net of allowance for credit losses of $158 at June 30, 2022 and $158 at December 31, 2021	526,675	527,264
US States and Political Subdivisions Debt Securities [Member]
Schedule of Investments [Line Items]
Held to Maturity, Amortized Cost	1,418,411	1,220,573
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain	3,956	41,141
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss	81,583	101
Debt Securities, Held-to-maturity, Fair Value	1,340,784	1,261,613
Securities, held-to-maturity, allowance for credit loss	(158)	(158)
Securities held to maturity, net of allowance for credit losses of $158 at June 30, 2022 and $158 at December 31, 2021	1,418,253	1,220,415
Other Investments [Member]
Schedule of Investments [Line Items]
Held to Maturity, Amortized Cost	1,500	1,500
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain	0	0
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss	61	0
Debt Securities, Held-to-maturity, Fair Value	1,439	1,500
Securities, held-to-maturity, allowance for credit loss	0	0
Securities held to maturity, net of allowance for credit losses of $158 at June 30, 2022 and $158 at December 31, 2021	$ 1,500	$ 1,500

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Securities Securities - Moody's and/or Standard & Poor's Bond Rating (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	$ 1,946,586	$ 1,749,337
US States and Political Subdivisions Debt Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	1,418,411	1,220,573
Other Investments [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	1,500	1,500
Aaa/AAA [Member] | US States and Political Subdivisions Debt Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	1,270,014	1,116,278
Aaa/AAA [Member] | Other Investments [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	0	0
Aa/AA [Member] | US States and Political Subdivisions Debt Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	148,397	104,295
Aa/AA [Member] | Other Investments [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	0	0
Not rated [Member] | US States and Political Subdivisions Debt Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	0	0
Not rated [Member] | Other Investments [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	1,500	1,500
Not Guaranteed or Pre-Refunded [Member] | US States and Political Subdivisions Debt Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	309,671	196,674
Not Guaranteed or Pre-Refunded [Member] | Aaa/AAA [Member] | US States and Political Subdivisions Debt Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	161,274	92,379
Not Guaranteed or Pre-Refunded [Member] | Aa/AA [Member] | US States and Political Subdivisions Debt Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	148,397	104,295
Not Guaranteed or Pre-Refunded [Member] | Not rated [Member] | US States and Political Subdivisions Debt Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	0	0
Guaranteed by the Texas PSF [Member] | US States and Political Subdivisions Debt Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	764,405	460,648
Guaranteed by the Texas PSF [Member] | Aaa/AAA [Member] | US States and Political Subdivisions Debt Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	764,405	460,648
Guaranteed by the Texas PSF [Member] | Aa/AA [Member] | US States and Political Subdivisions Debt Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	0	0
Guaranteed by the Texas PSF [Member] | Not rated [Member] | US States and Political Subdivisions Debt Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	0	0
Pre-Refunded [Member] | US States and Political Subdivisions Debt Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	344,335	563,251
Pre-Refunded [Member] | Aaa/AAA [Member] | US States and Political Subdivisions Debt Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	344,335	563,251
Pre-Refunded [Member] | Aa/AA [Member] | US States and Political Subdivisions Debt Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	0	0
Pre-Refunded [Member] | Not rated [Member] | US States and Political Subdivisions Debt Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	$ 0	$ 0

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Securities Securities - Allowance for Credit Losses on Held to Maturity Securities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Schedule of Held-to-maturity Securities [Line Items]
Securities, held-to-maturity, allowance for credit loss	$ 158		$ 158			$ 158
Debt Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Securities, held-to-maturity, allowance for credit loss	158	$ 158	158	$ 158	$ 158	$ 158	$ 158	$ 160
Credit loss expense (benefit)	$ 0	$ 0	$ 0	$ (2)

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Securities Securities - Amortized Cost, Allowance for Credit Losses and Estimated Fair Value of Securities Available for Sale (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Schedule of Investments [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	$ 17,850,263	$ 13,445,888
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	56,001	518,805
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	1,124,579	40,065
Debt Securities, Available-for-sale, Allowance for Credit Loss	0	0
Securities available for sale, at estimated fair value	16,781,685	13,924,628
US Treasury Securities [Member]
Schedule of Investments [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	4,656,896	2,165,702
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	2,093	23,333
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	242,690	9,602
Debt Securities, Available-for-sale, Allowance for Credit Loss	0	0
Securities available for sale, at estimated fair value	4,416,299	2,179,433
Residential Mortgage Backed Securities [Member]
Schedule of Investments [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	5,967,803	4,059,692
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	3,443	31,662
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	635,521	25,089
Debt Securities, Available-for-sale, Allowance for Credit Loss	0	0
Securities available for sale, at estimated fair value	5,335,725	4,066,265
US States and Political Subdivisions Debt Securities [Member]
Schedule of Investments [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	7,183,199	7,178,135
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	50,465	463,810
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	246,368	5,374
Debt Securities, Available-for-sale, Allowance for Credit Loss	0	0
Securities available for sale, at estimated fair value	6,987,296	7,636,571
Other Investments [Member]
Schedule of Investments [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	42,365	42,359
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	0	0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	0	0
Debt Securities, Available-for-sale, Allowance for Credit Loss	0	0
Securities available for sale, at estimated fair value	$ 42,365	$ 42,359

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Securities - Securities Available for Sale, with Unrealized Losses Segregated by Length of Impairment (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Schedule of Available-for-Sale Securities [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	$ 12,299,514
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	1,052,979
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	382,922
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	71,600
Debt Securities, Available-for-sale, Unrealized Loss Position	12,682,436
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	1,124,579	$ 40,065
U.S. Treasury [Member]
Schedule of Available-for-Sale Securities [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	4,224,018
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	242,690
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	0
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	0
Debt Securities, Available-for-sale, Unrealized Loss Position	4,224,018
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	242,690	9,602
Residential Mortgage Backed Securities [Member]
Schedule of Available-for-Sale Securities [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	4,825,871
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	568,405
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	369,098
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	67,116
Debt Securities, Available-for-sale, Unrealized Loss Position	5,194,969
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	635,521	25,089
States and political subdivisions [Member]
Schedule of Available-for-Sale Securities [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	3,249,625
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	241,884
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	13,824
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	4,484
Debt Securities, Available-for-sale, Unrealized Loss Position	3,263,449
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	$ 246,368	$ 5,374

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Securities - Amortized Cost and Estimated Fair Value of Securities, Excluding Trading Securities, Presented by Contractual Maturity (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Schedule of Investments [Line Items]
Held to Maturity, Due in one year or less, Amortized Cost	$ 350,368
Held to Maturity, Due after one year through five years, Amortized Cost	85,553
Held to Maturity, Due after five years through ten years, Amortized Cost	536,684
Held to Maturity, Due after ten years, Amortized Cost	973,981
Held to Maturity, Amortized Cost	1,946,586	$ 1,749,337
Held to Maturity, Due in one year or less, Estimated Fair Value	351,240
Held to Maturity, Due after one year through five years, Estimated Fair Value	86,226
Held to Maturity, Due after five years through ten years, Estimated Fair Value	497,887
Held to Maturity, Due after ten years, Estimated Fair Value	893,162
Held to Maturity, Estimated Fair Value	1,828,515	1,809,143
Available-for-sale Securities, Due in one year or less, Amortized Cost	207,133
Available for Sale, Due after one year through five years, Amortized Cost	4,589,781
Available for Sale, Due after five years through ten years, Amortized Cost	2,355,016
Available for Sale, Due after ten years, Amortized Cost	10,655,968
Debt Securities, Available-for-sale, Amortized Cost	17,850,263	13,445,888
Available for Sale, Due in one year or less, Estimated Fair Value	209,193
Available for Sale, Due after one year through five years, Estimated Fair Value	4,547,346
Available for Sale, Due after five years through ten years, Estimated Fair Value	2,213,463
Available for Sale, Due after ten years, Estimated Fair Value	9,769,318
Securities available for sale, at estimated fair value	16,781,685	13,924,628
US Treasury Securities [Member]
Schedule of Investments [Line Items]
Available-for-sale Securities, Due in one year or less, Amortized Cost	0
Available for Sale, Due after one year through five years, Amortized Cost	3,031,706
Available for Sale, Due after five years through ten years, Amortized Cost	1,433,320
Available for Sale, Due after ten years, Amortized Cost	191,870
Debt Securities, Available-for-sale, Amortized Cost	4,656,896	2,165,702
Available for Sale, Due in one year or less, Estimated Fair Value	0
Available for Sale, Due after one year through five years, Estimated Fair Value	2,957,018
Available for Sale, Due after five years through ten years, Estimated Fair Value	1,301,539
Available for Sale, Due after ten years, Estimated Fair Value	157,742
Securities available for sale, at estimated fair value	4,416,299	2,179,433
Residential Mortgage Backed Securities [Member]
Schedule of Investments [Line Items]
Held to Maturity, Due in one year or less, Amortized Cost	3
Held to Maturity, Due after one year through five years, Amortized Cost	0
Held to Maturity, Due after five years through ten years, Amortized Cost	514,582
Held to Maturity, Due after ten years, Amortized Cost	12,090
Held to Maturity, Amortized Cost	526,675	527,264
Held to Maturity, Due in one year or less, Estimated Fair Value	3
Held to Maturity, Due after one year through five years, Estimated Fair Value	0
Held to Maturity, Due after five years through ten years, Estimated Fair Value	475,721
Held to Maturity, Due after ten years, Estimated Fair Value	10,568
Held to Maturity, Estimated Fair Value	486,292	546,030
Available-for-sale Securities, Due in one year or less, Amortized Cost	55
Available for Sale, Due after one year through five years, Amortized Cost	11,080
Available for Sale, Due after five years through ten years, Amortized Cost	18,743
Available for Sale, Due after ten years, Amortized Cost	5,937,925
Debt Securities, Available-for-sale, Amortized Cost	5,967,803	4,059,692
Available for Sale, Due in one year or less, Estimated Fair Value	55
Available for Sale, Due after one year through five years, Estimated Fair Value	11,231
Available for Sale, Due after five years through ten years, Estimated Fair Value	18,792
Available for Sale, Due after ten years, Estimated Fair Value	5,305,647
Securities available for sale, at estimated fair value	5,335,725	4,066,265
US States and Political Subdivisions Debt Securities [Member]
Schedule of Investments [Line Items]
Held to Maturity, Due in one year or less, Amortized Cost	350,365
Held to Maturity, Due after one year through five years, Amortized Cost	84,053
Held to Maturity, Due after five years through ten years, Amortized Cost	22,102
Held to Maturity, Due after ten years, Amortized Cost	961,891
Held to Maturity, Amortized Cost	1,418,411	1,220,573
Held to Maturity, Due in one year or less, Estimated Fair Value	351,237
Held to Maturity, Due after one year through five years, Estimated Fair Value	84,787
Held to Maturity, Due after five years through ten years, Estimated Fair Value	22,166
Held to Maturity, Due after ten years, Estimated Fair Value	882,594
Held to Maturity, Estimated Fair Value	1,340,784	1,261,613
Available-for-sale Securities, Due in one year or less, Amortized Cost	207,078
Available for Sale, Due after one year through five years, Amortized Cost	1,546,995
Available for Sale, Due after five years through ten years, Amortized Cost	902,953
Available for Sale, Due after ten years, Amortized Cost	4,526,173
Debt Securities, Available-for-sale, Amortized Cost	7,183,199	7,178,135
Available for Sale, Due in one year or less, Estimated Fair Value	209,138
Available for Sale, Due after one year through five years, Estimated Fair Value	1,579,097
Available for Sale, Due after five years through ten years, Estimated Fair Value	893,132
Available for Sale, Due after ten years, Estimated Fair Value	4,305,929
Securities available for sale, at estimated fair value	6,987,296	7,636,571
Other Investments [Member]
Schedule of Investments [Line Items]
Held to Maturity, Due in one year or less, Amortized Cost	0
Held to Maturity, Due after one year through five years, Amortized Cost	1,500
Held to Maturity, Due after five years through ten years, Amortized Cost	0
Held to Maturity, Due after ten years, Amortized Cost	0
Held to Maturity, Amortized Cost	1,500	1,500
Held to Maturity, Due in one year or less, Estimated Fair Value	0
Held to Maturity, Due after one year through five years, Estimated Fair Value	1,439
Held to Maturity, Due after five years through ten years, Estimated Fair Value	0
Held to Maturity, Due after ten years, Estimated Fair Value	0
Held to Maturity, Estimated Fair Value	1,439	1,500
Available-for-sale Securities, Due in one year or less, Amortized Cost	0
Available for Sale, Due after one year through five years, Amortized Cost	0
Available for Sale, Due after five years through ten years, Amortized Cost	0
Available for Sale, Due after ten years, Amortized Cost	0
Debt Securities, Available-for-sale, Amortized Cost	42,365	42,359
Available for Sale, Due in one year or less, Estimated Fair Value	0
Available for Sale, Due after one year through five years, Estimated Fair Value	0
Available for Sale, Due after five years through ten years, Estimated Fair Value	0
Available for Sale, Due after ten years, Estimated Fair Value	0
Securities available for sale, at estimated fair value	$ 42,365	$ 42,359

XML

Securities Securities - Premium Amortization and Discount Accretion Included in Income on Securities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Premium amortization	$ (28,053)	$ (30,541)	$ (57,113)	$ (61,776)
Discount accretion	2,482	705	3,888	1,342
Net (premium amortization) discount accretion	$ (25,571)	$ (29,836)	$ (53,225)	$ (60,434)

XML

Securities - Trading Account Securities, at Estimated Fair Value (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Debt and Equity Securities, FV-NI [Line Items]
Trading account securities	$ 24,680	$ 25,162
U.S. Treasury [Member]
Debt and Equity Securities, FV-NI [Line Items]
Trading account securities	24,615	24,237
States and political subdivisions [Member]
Debt and Equity Securities, FV-NI [Line Items]
Trading account securities	$ 65	$ 925

XML

Securities - Net Gains and Losses on Trading Account Securities (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Net gain on sales transactions	$ 1,012	$ 293	$ 1,352	$ 402
Net mark-to-market gains (losses)	(76)	0	(244)	(69)
Net gain (loss) on trading account securities	$ 936	$ 293	$ 1,108	$ 333

XML

Loans - Additional Information (Detail) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration of loans in a single industry in excess of ten percent	0.00%		0.00%
Maximum percentage loan related to single industry	10.00%		10.00%
U.S. dollar denominated loans and commitments to borrowers in Mexico	$ 0		$ 0			$ 0
Loans and Leases Receivable, Related Parties	$ 342,500		$ 342,500			$ 350,500
Texas Leading Index economic condition indicator	138.4		138.4			135.9
Financing Receivable, Allowance for Credit Loss	$ 239,632		$ 239,632			$ 248,666
Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of total energy loans to total loans	5.90%		5.90%
Percentage of total energy loans to total loans excluding PPP Loans	5.90%		5.90%
Financing Receivable, Allowance for Credit Loss	$ 16,267	$ 28,010	$ 16,267	$ 28,010	$ 15,422	17,217	$ 33,472	$ 39,553
Paycheck Protection Program [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Allowance for Credit Loss	0	0	0	0		0
Non Accrual Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Additional interest that would have been recognized on non-accrual loans, net of tax	436	$ 427	843	$ 881
Commitments to Extend Credit [Member] | Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unfunded balances	887,300		887,300
Standby Letters of Credit [Member] | Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unfunded balances	79,100		79,100
Loans Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Receivable	$ 44,800		$ 44,800			$ 40,000

XML

Loans - Loans (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned discounts	$ 16,736,026	$ 16,336,397
Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned discounts	5,539,277	5,364,954
Energy Production [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned discounts	762,625	878,436
Energy Service [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned discounts	121,356	105,901
Energy Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned discounts	103,944	93,455
Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned discounts	987,925	1,077,792
Paycheck Protection Program [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned discounts	91,919	428,882
Commercial mortgage [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned discounts	6,041,606	5,867,062
Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned discounts	1,535,808	1,304,271
Commercial land loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned discounts	478,674	405,277
Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned discounts	8,056,088	7,576,610
Home Equity Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned discounts	352,633	324,157
Home Equity Line of Credit [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned discounts	603,907	519,098
Other consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned discounts	604,495	567,535
Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned discounts	1,561,035	1,410,790
Real Estate Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned discounts	9,617,123	8,987,400
Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned discounts	$ 499,782	$ 477,369

XML

Loans - Non-Accrual Loans, Segregated by Class of Loans (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Non Accrual Loans Segregated By Class Of Loans [Line Items]
Non-accrual loans	$ 35,125	$ 53,713
Non-accrual with no credit loss allowance	16,686	27,202
Commercial Portfolio Segment [Member]
Non Accrual Loans Segregated By Class Of Loans [Line Items]
Non-accrual loans	11,170	22,582
Non-accrual with no credit loss allowance	3,093	4,701
Commercial and Industrial Total Energy Loans [Member]
Non Accrual Loans Segregated By Class Of Loans [Line Items]
Non-accrual loans	11,114	14,433
Non-accrual with no credit loss allowance	6,442	8,533
Paycheck Protection Program [Member]
Non Accrual Loans Segregated By Class Of Loans [Line Items]
Non-accrual loans	0	0
Non-accrual with no credit loss allowance	0	0
Commercial Real Estate Buildings Land And Other Loans [Member]
Non Accrual Loans Segregated By Class Of Loans [Line Items]
Non-accrual loans	11,806	15,297
Non-accrual with no credit loss allowance	6,419	13,817
Construction Loans [Member]
Non Accrual Loans Segregated By Class Of Loans [Line Items]
Non-accrual loans	0	948
Non-accrual with no credit loss allowance	0	0
Total consumer real estate loans [Member]
Non Accrual Loans Segregated By Class Of Loans [Line Items]
Non-accrual loans	1,035	440
Non-accrual with no credit loss allowance	732	138
Consumer Loan [Member]
Non Accrual Loans Segregated By Class Of Loans [Line Items]
Non-accrual loans	0	13
Non-accrual with no credit loss allowance	$ 0	$ 13

XML

Loans Loans - Non-Accrual Loans, Segregated by Class of Loans and Year of Origination (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Loans and Leases Receivable Disclosure [Line Items]
Non-accrual loans	$ 35,125	$ 53,713
Nonperforming Financial Instruments [Member]
Loans and Leases Receivable Disclosure [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	6,895
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	7,654
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	3,520
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	3,736
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	1,825
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	3,625
Financing Receivable, Revolving	5,235
Financing Receivable, Revolving, Converted to Term Loan	2,635
Commercial Portfolio Segment [Member]
Loans and Leases Receivable Disclosure [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	1,027,153
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	852,191
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	582,273
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	289,898
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	167,930
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	232,809
Financing Receivable, Revolving	2,318,394
Non-accrual loans	11,170	22,582
Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member]
Loans and Leases Receivable Disclosure [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	0
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	98
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	3,520
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	3,507
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	1,491
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	653
Financing Receivable, Revolving	108
Financing Receivable, Revolving, Converted to Term Loan	1,793
Commercial and Industrial Total Energy Loans [Member]
Loans and Leases Receivable Disclosure [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	328,807
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	111,479
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	7,821
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	12,669
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	4,735
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	5,403
Financing Receivable, Revolving	467,542
Non-accrual loans	11,114	14,433
Commercial and Industrial Total Energy Loans [Member] | Nonperforming Financial Instruments [Member]
Loans and Leases Receivable Disclosure [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	5,779
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	0
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	0
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	0
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	21
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	0
Financing Receivable, Revolving	5,127
Financing Receivable, Revolving, Converted to Term Loan	187
Paycheck Protection Program [Member]
Loans and Leases Receivable Disclosure [Line Items]
Non-accrual loans	0	0
Paycheck Protection Program [Member] | Nonperforming Financial Instruments [Member]
Loans and Leases Receivable Disclosure [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	0
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	0
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	0
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	0
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	0
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, Revolving, Converted to Term Loan	0
Commercial Real Estate Buildings Land And Other Loans [Member]
Loans and Leases Receivable Disclosure [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	1,173,006
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	1,548,499
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	1,118,143
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	895,947
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	478,947
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	1,100,358
Financing Receivable, Revolving	96,082
Non-accrual loans	11,806	15,297
Commercial Real Estate Buildings Land And Other Loans [Member] | Nonperforming Financial Instruments [Member]
Loans and Leases Receivable Disclosure [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	1,116
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	7,556
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	0
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	229
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	313
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	2,592
Financing Receivable, Revolving	0
Financing Receivable, Revolving, Converted to Term Loan	0
Construction Loans [Member]
Loans and Leases Receivable Disclosure [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	315,359
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	663,001
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	182,566
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	114,018
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	631
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	2,205
Financing Receivable, Revolving	253,781
Non-accrual loans	0	948
Construction Loans [Member] | Nonperforming Financial Instruments [Member]
Loans and Leases Receivable Disclosure [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	0
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	0
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	0
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	0
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	0
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, Revolving, Converted to Term Loan	0
Total consumer real estate loans [Member]
Loans and Leases Receivable Disclosure [Line Items]
Non-accrual loans	1,035	440
Total consumer real estate loans [Member] | Nonperforming Financial Instruments [Member]
Loans and Leases Receivable Disclosure [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	0
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	0
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	0
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	0
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	0
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	380
Financing Receivable, Revolving	0
Financing Receivable, Revolving, Converted to Term Loan	655
Consumer Loan [Member]
Loans and Leases Receivable Disclosure [Line Items]
Non-accrual loans	0	$ 13
Consumer Loan [Member] | Nonperforming Financial Instruments [Member]
Loans and Leases Receivable Disclosure [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	0
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	0
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	0
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	0
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	0
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, Revolving, Converted to Term Loan	$ 0

XML

Loans - Age Analysis of Past Due Loans, Segregated by Class of Loans (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Financing Receivable, Past Due [Line Items]
Total loans	$ 16,736,026	$ 16,336,397
Accruing Loans 90 or More Days Past Due	10,625
Commercial Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Total loans	5,539,277	5,364,954
Accruing Loans 90 or More Days Past Due	3,280
Commercial and Industrial Total Energy Loans [Member]
Financing Receivable, Past Due [Line Items]
Total loans	987,925	1,077,792
Accruing Loans 90 or More Days Past Due	0
Paycheck Protection Program [Member]
Financing Receivable, Past Due [Line Items]
Total loans	91,919	428,882
Accruing Loans 90 or More Days Past Due	5,063
Commercial Real Estate Buildings Land And Other Loans [Member]
Financing Receivable, Past Due [Line Items]
Total loans	6,520,280	6,272,339
Accruing Loans 90 or More Days Past Due	781
Construction Loans [Member]
Financing Receivable, Past Due [Line Items]
Total loans	1,535,808	1,304,271
Accruing Loans 90 or More Days Past Due	0
Total consumer real estate loans [Member]
Financing Receivable, Past Due [Line Items]
Total loans	1,561,035	1,410,790
Accruing Loans 90 or More Days Past Due	903
Consumer Loan [Member]
Financing Receivable, Past Due [Line Items]
Total loans	499,782	$ 477,369
Accruing Loans 90 or More Days Past Due	598
Financing Receivables, 30 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	50,696
Financing Receivables, 30 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	14,529
Financing Receivables, 30 to 89 Days Past Due [Member] | Commercial and Industrial Total Energy Loans [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	200
Financing Receivables, 30 to 89 Days Past Due [Member] | Paycheck Protection Program [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	5,919
Financing Receivables, 30 to 89 Days Past Due [Member] | Commercial Real Estate Buildings Land And Other Loans [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	17,852
Financing Receivables, 30 to 89 Days Past Due [Member] | Construction Loans [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	832
Financing Receivables, 30 to 89 Days Past Due [Member] | Total consumer real estate loans [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	6,921
Financing Receivables, 30 to 89 Days Past Due [Member] | Consumer Loan [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	4,443
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	21,638
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	3,993
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial and Industrial Total Energy Loans [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	3,275
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Paycheck Protection Program [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	5,063
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Real Estate Buildings Land And Other Loans [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	7,441
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Construction Loans [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	0
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Total consumer real estate loans [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	1,268
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Loan [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	598
Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	72,334
Financial Asset, Past Due | Commercial Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	18,522
Financial Asset, Past Due | Commercial and Industrial Total Energy Loans [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	3,475
Financial Asset, Past Due | Paycheck Protection Program [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	10,982
Financial Asset, Past Due | Commercial Real Estate Buildings Land And Other Loans [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	25,293
Financial Asset, Past Due | Construction Loans [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	832
Financial Asset, Past Due | Total consumer real estate loans [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	8,189
Financial Asset, Past Due | Consumer Loan [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	5,041
Financial Asset, Not Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	16,663,692
Financial Asset, Not Past Due | Commercial Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	5,520,755
Financial Asset, Not Past Due | Commercial and Industrial Total Energy Loans [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	984,450
Financial Asset, Not Past Due | Paycheck Protection Program [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	80,937
Financial Asset, Not Past Due | Commercial Real Estate Buildings Land And Other Loans [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	6,494,987
Financial Asset, Not Past Due | Construction Loans [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	1,534,976
Financial Asset, Not Past Due | Total consumer real estate loans [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	1,552,846
Financial Asset, Not Past Due | Consumer Loan [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	$ 494,741

XML

Loans - Troubled Debt Restructuring (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans modified as troubled debt restructurings	$ 1,155	$ 4,399
Balance at period end	1,116	4,396
Commercial and Industrial Total Energy Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans modified as troubled debt restructurings	0	3,817
Balance at period end	0	3,817
Commercial Real Estate Buildings Land And Other Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans modified as troubled debt restructurings	1,155	582
Balance at period end	$ 1,116	$ 579

XML

Loans Loans - Restructured Loans Past Due in Excess of 90 Days on Financing Receivables (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($) Item	Jun. 30, 2021 USD ($) Item
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number Of Restructured Loans Past Due In Excess of 90 Days At Period-End | Item	0	1
Dollar amount of previously restructured loans past due	$ 0	$ 1,322
Restructured loans on non-accrual status at period end	1,116	4,090
Charge-offs of restructured loans recognized in connection with restructuring	0	0
Charge-offs of restructured loans recognized on previously restructured loans	723	0
Proceeds from sale of restructured loans	$ 1,070	$ 0

XML

Loans Loans - Weighted Average Risk Grade for All Commercial Loans by Class and Year of Origination (Details) $ in Thousands	Jun. 30, 2022 USD ($) Grade	Dec. 31, 2021 USD ($) Grade
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	$ 16,736,026	$ 16,336,397
Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	1,027,153
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	852,191
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	582,273
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	289,898
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	167,930
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	232,809
Financing Receivable, Revolving	2,318,394
Loans and Leases Receivable, Net of Deferred Income	$ 5,539,277	$ 5,364,954
Weighted Average Risk Grade For Loans | Grade	6.38	6.22
Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 328,807
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	111,479
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	7,821
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	12,669
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	4,735
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	5,403
Financing Receivable, Revolving	467,542
Loans and Leases Receivable, Net of Deferred Income	$ 987,925	$ 1,077,792
Weighted Average Risk Grade For Loans | Grade	5.82	6.06
Commercial Real Estate Buildings Land And Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 1,173,006
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	1,548,499
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	1,118,143
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	895,947
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	478,947
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	1,100,358
Financing Receivable, Revolving	96,082
Loans and Leases Receivable, Net of Deferred Income	$ 6,520,280	$ 6,272,339
Weighted Average Risk Grade For Loans | Grade	7.12	7.22
Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 315,359
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	663,001
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	182,566
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	114,018
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	631
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	2,205
Financing Receivable, Revolving	253,781
Loans and Leases Receivable, Net of Deferred Income	$ 1,535,808	$ 1,304,271
Weighted Average Risk Grade For Loans | Grade	6.96	7.06
Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 1,488,365
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	2,211,500
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	1,300,709
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	1,009,965
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	479,578
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	1,102,563
Financing Receivable, Revolving	349,863
Loans and Leases Receivable, Net of Deferred Income	$ 8,056,088	$ 7,576,610
Weighted Average Risk Grade For Loans | Grade	7.09	7.19
Risk Grade One To Eight [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 1,009,520
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	805,675
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	563,122
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	267,129
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	142,114
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	221,192
Financing Receivable, Revolving	2,213,761
Loans and Leases Receivable, Net of Deferred Income	$ 5,276,748	$ 5,063,847
Weighted Average Risk Grade For Loans | Grade	6.23	6.01
Risk Grade One To Eight [Member] | Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 312,271
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	111,163
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	6,939
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	6,332
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	3,564
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	5,239
Financing Receivable, Revolving	446,460
Loans and Leases Receivable, Net of Deferred Income	$ 941,153	$ 1,008,370
Weighted Average Risk Grade For Loans | Grade	5.57	5.78
Risk Grade One To Eight [Member] | Commercial Real Estate Buildings Land And Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 1,101,851
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	1,495,414
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	999,836
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	788,421
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	428,539
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	963,918
Financing Receivable, Revolving	84,964
Loans and Leases Receivable, Net of Deferred Income	$ 5,969,393	$ 5,574,922
Weighted Average Risk Grade For Loans | Grade	6.90	6.91
Risk Grade One To Eight [Member] | Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 276,072
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	662,364
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	179,896
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	100,915
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	631
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	1,804
Financing Receivable, Revolving	253,781
Loans and Leases Receivable, Net of Deferred Income	$ 1,479,710	$ 1,262,200
Weighted Average Risk Grade For Loans | Grade	6.86	6.99
Risk Grade One To Eight [Member] | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income		$ 6,837,122
Weighted Average Risk Grade For Loans | Grade		6.92
Risk Grade Nine [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 12,633
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	21,474
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	6,914
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	9,067
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	20,961
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	8,682
Financing Receivable, Revolving	79,546
Loans and Leases Receivable, Net of Deferred Income	$ 164,939	$ 187,870
Weighted Average Risk Grade For Loans | Grade	9.00	9.00
Risk Grade Nine [Member] | Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 1,660
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	95
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	268
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	1,192
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	26
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	0
Financing Receivable, Revolving	10,955
Loans and Leases Receivable, Net of Deferred Income	$ 14,235	$ 36,622
Weighted Average Risk Grade For Loans | Grade	9.00	9.00
Risk Grade Nine [Member] | Commercial Real Estate Buildings Land And Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 64,026
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	27,271
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	99,934
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	47,898
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	20,773
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	35,908
Financing Receivable, Revolving	7,412
Loans and Leases Receivable, Net of Deferred Income	$ 306,070	$ 321,533
Weighted Average Risk Grade For Loans | Grade	9.00	9.00
Risk Grade Nine [Member] | Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 11,295
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	637
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	2,670
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	0
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	0
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	401
Financing Receivable, Revolving	0
Loans and Leases Receivable, Net of Deferred Income	$ 15,003	$ 41,123
Weighted Average Risk Grade For Loans | Grade	9.00	9.00
Risk Grade Nine [Member] | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income		$ 362,656
Weighted Average Risk Grade For Loans | Grade		9.00
Risk Grade Ten [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 5,000
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	23,293
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	2,437
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	705
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	1,808
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	255
Financing Receivable, Revolving	20,879
Loans and Leases Receivable, Net of Deferred Income	$ 56,470	$ 59,137
Weighted Average Risk Grade For Loans | Grade	10.00	10.00
Risk Grade Ten [Member] | Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 0
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	0
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	73
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	515
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	239
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	0
Financing Receivable, Revolving	0
Loans and Leases Receivable, Net of Deferred Income	$ 885	$ 1,773
Weighted Average Risk Grade For Loans | Grade	10.00	10.00
Risk Grade Ten [Member] | Commercial Real Estate Buildings Land And Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 5,851
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	17,824
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	17,104
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	52,210
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	20,353
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	53,622
Financing Receivable, Revolving	3,500
Loans and Leases Receivable, Net of Deferred Income	$ 170,464	$ 269,447
Weighted Average Risk Grade For Loans | Grade	10.00	10.00
Risk Grade Ten [Member] | Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 27,992
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	0
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	0
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	13,103
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	0
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	0
Financing Receivable, Revolving	0
Loans and Leases Receivable, Net of Deferred Income	$ 41,095	$ 0
Weighted Average Risk Grade For Loans | Grade	10.00	10.00
Risk Grade Ten [Member] | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income		$ 269,447
Weighted Average Risk Grade For Loans | Grade		10.00
Risk Grade Eleven [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 0
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	1,651
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	6,280
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	9,490
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	1,556
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	2,027
Financing Receivable, Revolving	4,100
Loans and Leases Receivable, Net of Deferred Income	$ 29,950	$ 31,518
Weighted Average Risk Grade For Loans | Grade	11.00	11.00
Risk Grade Eleven [Member] | Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 9,097
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	221
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	541
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	4,630
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	885
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	164
Financing Receivable, Revolving	5,000
Loans and Leases Receivable, Net of Deferred Income	$ 20,538	$ 16,594
Weighted Average Risk Grade For Loans | Grade	11.00	11.00
Risk Grade Eleven [Member] | Commercial Real Estate Buildings Land And Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 162
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	434
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	1,269
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	7,189
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	8,969
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	44,318
Financing Receivable, Revolving	206
Loans and Leases Receivable, Net of Deferred Income	$ 62,547	$ 91,140
Weighted Average Risk Grade For Loans | Grade	11.00	11.00
Risk Grade Eleven [Member] | Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 0
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	0
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	0
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	0
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	0
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	0
Financing Receivable, Revolving	0
Loans and Leases Receivable, Net of Deferred Income	$ 0	$ 0
Weighted Average Risk Grade For Loans | Grade	11.00	11.00
Risk Grade Eleven [Member] | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income		$ 91,140
Weighted Average Risk Grade For Loans | Grade		11.00
Risk Grade Twelve [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 0
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	98
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	2,569
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	3,106
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	1,427
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	251
Financing Receivable, Revolving	108
Loans and Leases Receivable, Net of Deferred Income	$ 8,306	$ 12,535
Weighted Average Risk Grade For Loans | Grade	12.00	12.00
Risk Grade Twelve [Member] | Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 3,463
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	0
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	0
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	0
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	21
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	0
Financing Receivable, Revolving	2,771
Loans and Leases Receivable, Net of Deferred Income	$ 6,442	$ 8,953
Weighted Average Risk Grade For Loans | Grade	12.00	12.00
Risk Grade Twelve [Member] | Commercial Real Estate Buildings Land And Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 646
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	6,545
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	0
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	229
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	313
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	2,592
Financing Receivable, Revolving	0
Loans and Leases Receivable, Net of Deferred Income	$ 10,325	$ 15,097
Weighted Average Risk Grade For Loans | Grade	12.00	12.00
Risk Grade Twelve [Member] | Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 0
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	0
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	0
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	0
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	0
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	0
Financing Receivable, Revolving	0
Loans and Leases Receivable, Net of Deferred Income	$ 0	$ 748
Weighted Average Risk Grade For Loans | Grade	12.00	12.00
Risk Grade Twelve [Member] | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income		$ 15,845
Weighted Average Risk Grade For Loans | Grade		12.00
Risk Grade Thirteen [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 0
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	0
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	951
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	401
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	64
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	402
Financing Receivable, Revolving	0
Loans and Leases Receivable, Net of Deferred Income	$ 2,864	$ 10,047
Weighted Average Risk Grade For Loans | Grade	13.00	13.00
Risk Grade Thirteen [Member] | Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 2,316
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	0
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	0
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	0
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	0
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	0
Financing Receivable, Revolving	2,356
Loans and Leases Receivable, Net of Deferred Income	$ 4,672	$ 5,480
Weighted Average Risk Grade For Loans | Grade	13.00	13.00
Risk Grade Thirteen [Member] | Commercial Real Estate Buildings Land And Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 470
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	1,011
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	0
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	0
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	0
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	0
Financing Receivable, Revolving	0
Loans and Leases Receivable, Net of Deferred Income	$ 1,481	$ 200
Weighted Average Risk Grade For Loans | Grade	13.00	13.00
Risk Grade Thirteen [Member] | Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 0
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	0
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	0
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	0
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	0
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	0
Financing Receivable, Revolving	0
Loans and Leases Receivable, Net of Deferred Income	$ 0	$ 200
Weighted Average Risk Grade For Loans | Grade	13.00	13.00
Risk Grade Thirteen [Member] | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income		$ 400
Weighted Average Risk Grade For Loans | Grade		13.00
Revolving Credit Facility [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	6.20
Revolving Credit Facility [Member] | Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	5.46
Revolving Credit Facility [Member] | Commercial Real Estate Buildings Land And Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	7.24
Revolving Credit Facility [Member] | Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	6.10
Revolving Credit Facility [Member] | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	6.41
Revolving Loans Converted to Term [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving, Converted to Term Loan	$ 68,629
Weighted Average Risk Grade For Loans | Grade	7.52
Revolving Loans Converted to Term [Member] | Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving, Converted to Term Loan	$ 49,469
Weighted Average Risk Grade For Loans | Grade	6.25
Revolving Loans Converted to Term [Member] | Commercial Real Estate Buildings Land And Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving, Converted to Term Loan	$ 109,298
Weighted Average Risk Grade For Loans | Grade	6.44
Revolving Loans Converted to Term [Member] | Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving, Converted to Term Loan	$ 4,247
Weighted Average Risk Grade For Loans | Grade	5.01
Revolving Loans Converted to Term [Member] | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving, Converted to Term Loan	$ 113,545
Weighted Average Risk Grade For Loans | Grade	6.39
Revolving Loans Converted to Term [Member] | Risk Grade One To Eight [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving, Converted to Term Loan	$ 54,235
Revolving Loans Converted to Term [Member] | Risk Grade One To Eight [Member] | Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving, Converted to Term Loan	49,185
Revolving Loans Converted to Term [Member] | Risk Grade One To Eight [Member] | Commercial Real Estate Buildings Land And Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving, Converted to Term Loan	106,450
Revolving Loans Converted to Term [Member] | Risk Grade One To Eight [Member] | Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving, Converted to Term Loan	4,247
Revolving Loans Converted to Term [Member] | Risk Grade Nine [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving, Converted to Term Loan	5,662
Revolving Loans Converted to Term [Member] | Risk Grade Nine [Member] | Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving, Converted to Term Loan	39
Revolving Loans Converted to Term [Member] | Risk Grade Nine [Member] | Commercial Real Estate Buildings Land And Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving, Converted to Term Loan	2,848
Revolving Loans Converted to Term [Member] | Risk Grade Nine [Member] | Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving, Converted to Term Loan	0
Revolving Loans Converted to Term [Member] | Risk Grade Ten [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving, Converted to Term Loan	2,093
Revolving Loans Converted to Term [Member] | Risk Grade Ten [Member] | Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving, Converted to Term Loan	58
Revolving Loans Converted to Term [Member] | Risk Grade Ten [Member] | Commercial Real Estate Buildings Land And Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving, Converted to Term Loan	0
Revolving Loans Converted to Term [Member] | Risk Grade Ten [Member] | Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving, Converted to Term Loan	0
Revolving Loans Converted to Term [Member] | Risk Grade Eleven [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving, Converted to Term Loan	4,846
Revolving Loans Converted to Term [Member] | Risk Grade Eleven [Member] | Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving, Converted to Term Loan	0
Revolving Loans Converted to Term [Member] | Risk Grade Eleven [Member] | Commercial Real Estate Buildings Land And Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving, Converted to Term Loan	0
Revolving Loans Converted to Term [Member] | Risk Grade Eleven [Member] | Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving, Converted to Term Loan	0
Revolving Loans Converted to Term [Member] | Risk Grade Twelve [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving, Converted to Term Loan	747
Revolving Loans Converted to Term [Member] | Risk Grade Twelve [Member] | Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving, Converted to Term Loan	187
Revolving Loans Converted to Term [Member] | Risk Grade Twelve [Member] | Commercial Real Estate Buildings Land And Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving, Converted to Term Loan	0
Revolving Loans Converted to Term [Member] | Risk Grade Twelve [Member] | Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving, Converted to Term Loan	0
Revolving Loans Converted to Term [Member] | Risk Grade Thirteen [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving, Converted to Term Loan	1,046
Revolving Loans Converted to Term [Member] | Risk Grade Thirteen [Member] | Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving, Converted to Term Loan	0
Revolving Loans Converted to Term [Member] | Risk Grade Thirteen [Member] | Commercial Real Estate Buildings Land And Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving, Converted to Term Loan	0
Revolving Loans Converted to Term [Member] | Risk Grade Thirteen [Member] | Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving, Converted to Term Loan	$ 0
2022 [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	6.28
2022 [Member] | Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	6.09
2022 [Member] | Commercial Real Estate Buildings Land And Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	7.01
2022 [Member] | Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	7.10
2022 [Member] | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	7.03
2021 [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	7.03
2021 [Member] | Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	5.66
2021 [Member] | Commercial Real Estate Buildings Land And Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	7.23
2021 [Member] | Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	7.12
2021 [Member] | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	7.19
2020 [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	6.10
2020 [Member] | Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	7.69
2020 [Member] | Commercial Real Estate Buildings Land And Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	7.16
2020 [Member] | Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	6.64
2020 [Member] | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	7.09
2019 [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	6.75
2019 [Member] | Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	8.63
2019 [Member] | Commercial Real Estate Buildings Land And Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	7.25
2019 [Member] | Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	8.21
2019 [Member] | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	7.36
2018 [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	7.01
2018 [Member] | Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	8.30
2018 [Member] | Commercial Real Estate Buildings Land And Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	7.28
2018 [Member] | Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	6.21
2018 [Member] | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	7.28
Prior Years [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	5.79
Prior Years [Member] | Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	7.17
Prior Years [Member] | Commercial Real Estate Buildings Land And Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	6.95
Prior Years [Member] | Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	7.16
Prior Years [Member] | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade For Loans | Grade	6.95

XML

Loans - Weighted Average Risk Grades for All Commercial Loans by Class (Detail) $ in Thousands	Jun. 30, 2022 USD ($) Grade	Dec. 31, 2021 USD ($) Grade
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	$ 16,736,026	$ 16,336,397
Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade	6.38	6.22
Loans and Leases Receivable, Net of Deferred Income	$ 5,539,277	$ 5,364,954
Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade	5.82	6.06
Loans and Leases Receivable, Net of Deferred Income	$ 987,925	$ 1,077,792
Commercial Real Estate Buildings Land And Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade	7.12	7.22
Loans and Leases Receivable, Net of Deferred Income	$ 6,520,280	$ 6,272,339
Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade	6.96	7.06
Loans and Leases Receivable, Net of Deferred Income	$ 1,535,808	$ 1,304,271
Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade	7.09	7.19
Loans and Leases Receivable, Net of Deferred Income	$ 8,056,088	$ 7,576,610
Risk Grade One To Eight [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade	6.23	6.01
Loans and Leases Receivable, Net of Deferred Income	$ 5,276,748	$ 5,063,847
Risk Grade One To Eight [Member] | Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade	5.57	5.78
Loans and Leases Receivable, Net of Deferred Income	$ 941,153	$ 1,008,370
Risk Grade One To Eight [Member] | Commercial Real Estate Buildings Land And Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade	6.90	6.91
Loans and Leases Receivable, Net of Deferred Income	$ 5,969,393	$ 5,574,922
Risk Grade One To Eight [Member] | Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade	6.86	6.99
Loans and Leases Receivable, Net of Deferred Income	$ 1,479,710	$ 1,262,200
Risk Grade One To Eight [Member] | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade		6.92
Loans and Leases Receivable, Net of Deferred Income		$ 6,837,122
Risk Grade Nine [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade	9.00	9.00
Loans and Leases Receivable, Net of Deferred Income	$ 164,939	$ 187,870
Risk Grade Nine [Member] | Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade	9.00	9.00
Loans and Leases Receivable, Net of Deferred Income	$ 14,235	$ 36,622
Risk Grade Nine [Member] | Commercial Real Estate Buildings Land And Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade	9.00	9.00
Loans and Leases Receivable, Net of Deferred Income	$ 306,070	$ 321,533
Risk Grade Nine [Member] | Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade	9.00	9.00
Loans and Leases Receivable, Net of Deferred Income	$ 15,003	$ 41,123
Risk Grade Nine [Member] | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade		9.00
Loans and Leases Receivable, Net of Deferred Income		$ 362,656
Risk Grade Ten [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade	10.00	10.00
Loans and Leases Receivable, Net of Deferred Income	$ 56,470	$ 59,137
Risk Grade Ten [Member] | Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade	10.00	10.00
Loans and Leases Receivable, Net of Deferred Income	$ 885	$ 1,773
Risk Grade Ten [Member] | Commercial Real Estate Buildings Land And Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade	10.00	10.00
Loans and Leases Receivable, Net of Deferred Income	$ 170,464	$ 269,447
Risk Grade Ten [Member] | Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade	10.00	10.00
Loans and Leases Receivable, Net of Deferred Income	$ 41,095	$ 0
Risk Grade Ten [Member] | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade		10.00
Loans and Leases Receivable, Net of Deferred Income		$ 269,447
Risk Grade Eleven [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade	11.00	11.00
Loans and Leases Receivable, Net of Deferred Income	$ 29,950	$ 31,518
Risk Grade Eleven [Member] | Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade	11.00	11.00
Loans and Leases Receivable, Net of Deferred Income	$ 20,538	$ 16,594
Risk Grade Eleven [Member] | Commercial Real Estate Buildings Land And Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade	11.00	11.00
Loans and Leases Receivable, Net of Deferred Income	$ 62,547	$ 91,140
Risk Grade Eleven [Member] | Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade	11.00	11.00
Loans and Leases Receivable, Net of Deferred Income	$ 0	$ 0
Risk Grade Eleven [Member] | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade		11.00
Loans and Leases Receivable, Net of Deferred Income		$ 91,140
Risk Grade Twelve [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade	12.00	12.00
Loans and Leases Receivable, Net of Deferred Income	$ 8,306	$ 12,535
Risk Grade Twelve [Member] | Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade	12.00	12.00
Loans and Leases Receivable, Net of Deferred Income	$ 6,442	$ 8,953
Risk Grade Twelve [Member] | Commercial Real Estate Buildings Land And Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade	12.00	12.00
Loans and Leases Receivable, Net of Deferred Income	$ 10,325	$ 15,097
Risk Grade Twelve [Member] | Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade	12.00	12.00
Loans and Leases Receivable, Net of Deferred Income	$ 0	$ 748
Risk Grade Twelve [Member] | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade		12.00
Loans and Leases Receivable, Net of Deferred Income		$ 15,845
Risk Grade Thirteen [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade	13.00	13.00
Loans and Leases Receivable, Net of Deferred Income	$ 2,864	$ 10,047
Risk Grade Thirteen [Member] | Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade	13.00	13.00
Loans and Leases Receivable, Net of Deferred Income	$ 4,672	$ 5,480
Risk Grade Thirteen [Member] | Commercial Real Estate Buildings Land And Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade	13.00	13.00
Loans and Leases Receivable, Net of Deferred Income	$ 1,481	$ 200
Risk Grade Thirteen [Member] | Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade	13.00	13.00
Loans and Leases Receivable, Net of Deferred Income	$ 0	$ 200
Risk Grade Thirteen [Member] | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Risk Grade | Grade		13.00
Loans and Leases Receivable, Net of Deferred Income		$ 400

XML

Loans Loans - Age Analysis of Past Due Consumer Loans,Segregated by Class and Year of Origination (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	$ 16,736,026	$ 16,336,397
Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	1,561,035	1,410,790
Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	499,782	$ 477,369
Financing Receivables, 30 to 89 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	50,696
Financing Receivables, 30 to 89 Days Past Due [Member] | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	6,921
Financing Receivables, 30 to 89 Days Past Due [Member] | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	4,443
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	21,638
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	1,268
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	598
Financial Asset, Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	72,334
Financial Asset, Past Due | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	8,189
Financial Asset, Past Due | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	5,041
Financial Asset, Not Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	16,663,692
Financial Asset, Not Past Due | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	1,552,846
Financial Asset, Not Past Due | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	494,741
Revolving Credit Facility [Member] | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	593,388
Revolving Credit Facility [Member] | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	391,745
Revolving Credit Facility [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	602
Revolving Credit Facility [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	32
Revolving Credit Facility [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	247
Revolving Credit Facility [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	0
Revolving Credit Facility [Member] | Financial Asset, Past Due | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	849
Revolving Credit Facility [Member] | Financial Asset, Past Due | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	32
Revolving Credit Facility [Member] | Financial Asset, Not Past Due | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	592,539
Revolving Credit Facility [Member] | Financial Asset, Not Past Due | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	391,713
Revolving Loans Converted to Term [Member] | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	10,557
Revolving Loans Converted to Term [Member] | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	24,605
Revolving Loans Converted to Term [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	1,665
Revolving Loans Converted to Term [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	2,210
Revolving Loans Converted to Term [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	0
Revolving Loans Converted to Term [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	129
Revolving Loans Converted to Term [Member] | Financial Asset, Past Due | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	1,665
Revolving Loans Converted to Term [Member] | Financial Asset, Past Due | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	2,339
Revolving Loans Converted to Term [Member] | Financial Asset, Not Past Due | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	8,892
Revolving Loans Converted to Term [Member] | Financial Asset, Not Past Due | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	22,266
2022 [Member] | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	154,318
2022 [Member] | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	33,643
2022 [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	140
2022 [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	1,974
2022 [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	0
2022 [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	439
2022 [Member] | Financial Asset, Past Due | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	140
2022 [Member] | Financial Asset, Past Due | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	2,413
2022 [Member] | Financial Asset, Not Past Due | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	154,178
2022 [Member] | Financial Asset, Not Past Due | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	31,230
2021 [Member] | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	324,376
2021 [Member] | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	30,781
2021 [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	287
2021 [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	69
2021 [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	0
2021 [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	0
2021 [Member] | Financial Asset, Past Due | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	287
2021 [Member] | Financial Asset, Past Due | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	69
2021 [Member] | Financial Asset, Not Past Due | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	324,089
2021 [Member] | Financial Asset, Not Past Due | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	30,712
2020 [Member] | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	211,520
2020 [Member] | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	10,862
2020 [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	387
2020 [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	64
2020 [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	0
2020 [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	0
2020 [Member] | Financial Asset, Past Due | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	387
2020 [Member] | Financial Asset, Past Due | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	64
2020 [Member] | Financial Asset, Not Past Due | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	211,133
2020 [Member] | Financial Asset, Not Past Due | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	10,798
2019 [Member] | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	81,023
2019 [Member] | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	4,229
2019 [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	668
2019 [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	44
2019 [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	4
2019 [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	19
2019 [Member] | Financial Asset, Past Due | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	672
2019 [Member] | Financial Asset, Past Due | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	63
2019 [Member] | Financial Asset, Not Past Due | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	80,351
2019 [Member] | Financial Asset, Not Past Due | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	4,166
2018 [Member] | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	44,371
2018 [Member] | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	1,830
2018 [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	401
2018 [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	5
2018 [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	142
2018 [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	11
2018 [Member] | Financial Asset, Past Due | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	543
2018 [Member] | Financial Asset, Past Due | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	16
2018 [Member] | Financial Asset, Not Past Due | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	43,828
2018 [Member] | Financial Asset, Not Past Due | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	1,814
Prior Years [Member] | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	141,482
Prior Years [Member] | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	2,087
Prior Years [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	2,771
Prior Years [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	45
Prior Years [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	875
Prior Years [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	0
Prior Years [Member] | Financial Asset, Past Due | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	3,646
Prior Years [Member] | Financial Asset, Past Due | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	45
Prior Years [Member] | Financial Asset, Not Past Due | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	137,836
Prior Years [Member] | Financial Asset, Not Past Due | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	$ 2,042

XML

Loans Loans - Revolving Loans Converted to Term (Details) - Revolving Loans Converted to Term [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Remaining Revolving Loans Converted to Term During Period	$ 30,139	$ 32,766	$ 44,746	$ 75,732
Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Remaining Revolving Loans Converted to Term During Period	16,518	22,111	21,973	31,561
Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Remaining Revolving Loans Converted to Term During Period	247	294	247	6,177
Commercial Real Estate Buildings Land And Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Remaining Revolving Loans Converted to Term During Period	10,681	8,195	10,726	31,321
Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Remaining Revolving Loans Converted to Term During Period	13	0	4,248	0
Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Remaining Revolving Loans Converted to Term During Period	888	205	1,684	977
Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Remaining Revolving Loans Converted to Term During Period	$ 1,792	$ 1,961	$ 5,868	$ 5,696

XML

Loans Loans - Allowance for Credit Loss By Loan Class Calculated in Accordance With CECL Methodology (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss	$ 239,632		$ 248,666
Commercial Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss	87,270	$ 87,026	72,091	$ 65,271	$ 70,892	$ 73,843
Commercial and Industrial Total Energy Loans [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss	16,267	15,422	17,217	28,010	33,472	39,553
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss	117,106	128,954	144,936	147,993	144,440	134,892
Total consumer real estate loans [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss	6,854	6,359	6,585	6,154	5,636	7,926
Consumer Loan [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss	12,135	9,074	7,837	7,860	6,818	6,963
Loans Receivable [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss	239,632	$ 246,835	248,666	$ 255,288	$ 261,258	$ 263,177
Modeled Expected Credit Losses [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss	91,223		82,866
Modeled Expected Credit Losses [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss	48,776		46,946
Modeled Expected Credit Losses [Member] | Commercial and Industrial Total Energy Loans [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss	6,106		6,363
Modeled Expected Credit Losses [Member] | Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss	20,093		16,676
Modeled Expected Credit Losses [Member] | Total consumer real estate loans [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss	6,639		6,484
Modeled Expected Credit Losses [Member] | Consumer Loan [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss	9,609		6,397
Q-factor adjustments [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss	137,314		149,348
Q-factor adjustments [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss	35,134		14,609
Q-factor adjustments [Member] | Commercial and Industrial Total Energy Loans [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss	3,989		5,374
Q-factor adjustments [Member] | Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss	95,532		127,860
Q-factor adjustments [Member] | Total consumer real estate loans [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss	133		65
Q-factor adjustments [Member] | Consumer Loan [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss	2,526		1,440
Specific Valuation Allowances [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss	11,095		16,452
Specific Valuation Allowances [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss	3,360		10,536
Specific Valuation Allowances [Member] | Commercial and Industrial Total Energy Loans [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss	6,172		5,480
Specific Valuation Allowances [Member] | Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss	1,481		400
Specific Valuation Allowances [Member] | Total consumer real estate loans [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss	82		36
Specific Valuation Allowances [Member] | Consumer Loan [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss	$ 0		$ 0

XML

Loans - Activity in the Allowance for Credit Losses on Loans by Portfolio Segment (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance			$ 248,666
Ending balance	$ 239,632		239,632
Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	87,026	$ 70,892	72,091	$ 73,843
Credit loss, expense (reversal)	942	(5,901)	18,503	(7,866)
Charge-offs	(1,891)	(685)	(5,346)	(2,874)
Recoveries	1,193	965	2,022	2,168
Net charge-offs	(698)	280	(3,324)	(706)
Ending balance	87,270	65,271	87,270	65,271
Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	15,422	33,472	17,217	39,553
Credit loss, expense (reversal)	427	(5,527)	(1,617)	(11,328)
Charge-offs	0	0	(371)	(1,433)
Recoveries	418	65	1,038	1,218
Net charge-offs	418	65	667	(215)
Ending balance	16,267	28,010	16,267	28,010
Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	128,954	144,440	144,936	134,892
Credit loss, expense (reversal)	(12,232)	3,654	(27,841)	12,576
Charge-offs	0	(137)	(702)	(137)
Recoveries	384	36	713	662
Net charge-offs	384	(101)	11	525
Ending balance	117,106	147,993	117,106	147,993
Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	6,359	5,636	6,585	7,926
Credit loss, expense (reversal)	583	611	557	(2,111)
Charge-offs	(131)	(388)	(362)	(672)
Recoveries	43	295	74	1,011
Net charge-offs	(88)	(93)	(288)	339
Ending balance	6,854	6,154	6,854	6,154
Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	9,074	6,818	7,837	6,963
Credit loss, expense (reversal)	5,884	2,784	10,466	4,350
Charge-offs	(5,322)	(3,882)	(11,093)	(7,942)
Recoveries	2,499	2,140	4,925	4,489
Net charge-offs	(2,823)	(1,742)	(6,168)	(3,453)
Ending balance	12,135	7,860	12,135	7,860
Loans Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	246,835	261,258	248,666	263,177
Credit loss, expense (reversal)	(4,396)	(4,379)	68	(4,379)
Charge-offs	(7,344)	(5,092)	(17,874)	(13,058)
Recoveries	4,537	3,501	8,772	9,548
Net charge-offs	(2,807)	(1,591)	(9,102)	(3,510)
Ending balance	$ 239,632	$ 255,288	$ 239,632	$ 255,288

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Loans - Investment in Loans Related to Allowance for Loan Losses by Portfolio Segment Disaggregated Based on Impairment Methodology (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	$ 16,736,026	$ 16,336,397
Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	5,539,277	5,364,954
Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	987,925	1,077,792
Paycheck Protection Program [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	91,919	428,882
Commercial Real Estate Buildings Land And Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	6,520,280	6,272,339
Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	1,535,808	1,304,271
Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	1,561,035	1,410,790
Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	499,782	477,369
Specific Valuation Allowances [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Specific Allocations	11,095	16,452
Specific Valuation Allowances [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Specific Allocations	3,360	10,536
Specific Valuation Allowances [Member] | Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Specific Allocations	6,172	5,480
Specific Valuation Allowances [Member] | Paycheck Protection Program [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Specific Allocations	0	0
Specific Valuation Allowances [Member] | Commercial Real Estate Buildings Land And Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Specific Allocations	1,481	200
Specific Valuation Allowances [Member] | Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Specific Allocations	0	200
Specific Valuation Allowances [Member] | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Specific Allocations	82	36
Specific Valuation Allowances [Member] | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Specific Allocations	0	0
Loans Individually Evaluated for Impairment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	50,584	66,837
Loans Individually Evaluated for Impairment [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	12,539	24,523
Loans Individually Evaluated for Impairment [Member] | Commercial and Industrial Total Energy Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	15,906	16,393
Loans Individually Evaluated for Impairment [Member] | Paycheck Protection Program [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	0	0
Loans Individually Evaluated for Impairment [Member] | Commercial Real Estate Buildings Land And Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	21,205	24,670
Loans Individually Evaluated for Impairment [Member] | Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	0	948
Loans Individually Evaluated for Impairment [Member] | Total consumer real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	934	303
Loans Individually Evaluated for Impairment [Member] | Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	$ 0	$ 0

XML

Goodwill and Other Intangible Assets - Schedule of Goodwill (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 654,952	$ 654,952

XML

Goodwill and Other Intangible Assets - Schedule of Other Intangible Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Other intangible assets, net	$ 589	$ 866
Core deposits [Member]
Finite-Lived Intangible Assets [Line Items]
Other intangible assets, net	479	718
Customer relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Other intangible assets, net	$ 110	$ 148

XML

Goodwill and Other Intangible Assets - Estimated Aggregate Future Amortization Expense for Intangible Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2022	$ 204
2023	282
2024	87
2025	11
2026	5
Future Amortization Expense, Total	$ 589	$ 866

XML

Deposits - Schedule of Deposits (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Deposit [Line Items]
Non-interest-bearing demand deposits	$ 18,783,931	$ 18,423,018
Interest-bearing Domestic Deposit, Savings	12,309,066	11,930,959
Interest-bearing Domestic Deposit, Money Market	12,989,902	11,228,815
Interest-bearing Domestic Deposit, Time Deposits	1,518,866	1,112,904
Total interest-bearing deposit	26,817,834	24,272,678
Total deposits	$ 45,601,765	$ 42,695,696

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Deposits - Additional Information About Corporation's Deposits (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Deposit Liability [Line Items]
Deposits from foreign sources (primarily Mexico)	$ 1,090,169	$ 993,479
Non-interest-bearing public funds deposits	18,783,931	18,423,018
Interest-bearing public funds deposits	26,817,834	24,272,678
Total deposits not covered by deposit insurance	25,810,407	24,125,359
Time deposits not covered by deposit insurance	364,486	238,608
Public Funds [Member]
Deposit Liability [Line Items]
Non-interest-bearing public funds deposits	681,205	1,235,026
Interest-bearing public funds deposits	$ 837,427	$ 810,863

XML

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Lessee, Operating Lease, Liability, Payments, Due	$ 8,400	$ 8,000	$ 16,400	$ 16,100
Significant change in expected future minimum lease payments since year end			0
Premises and Equipment
Operating Lease, Right-of-Use Asset	278,300		278,300		$ 281,400
Other Liabilities [Member]
Operating Lease, Liability	$ 310,500		$ 310,500		$ 313,400

XML

Commitments and Contingencies - Financial Instruments with Off-Balance-Sheet Risk (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Standby Letters of Credit [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments with off- balance-sheet risk	$ 327,847	$ 238,690
Deferred Standby Letter Of Credit Fees [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments with off- balance-sheet risk	1,890	2,072
Commitments to Extend Credit [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments with off- balance-sheet risk	$ 10,771,940	$ 10,420,142

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Commitments and Contingencies Commitments and Contingencies - Credit Losses on Off-Balance-Sheet Commitments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Off-Balance Sheet, Credit Loss, Liability	$ 45,850	$ 44,217	$ 50,314	$ 44,152
Credit loss expense (benefit)	4,396	4,379	(68)	4,444
Off-Balance Sheet, Credit Loss, Liability	$ 50,246	$ 48,596	$ 50,246	$ 48,596

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Commitments and Contingencies Commitments and Contingencies - Components of Lease Commitments Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Operating Lease, Right-of-Use Asset, Amortization Expense	$ 8,209	$ 8,129	$ 16,314	$ 16,412
Short-term lease expense	490	530	1,103	734
Non-lease components (including taxes, insurance, common maintenance, etc.)	2,748	2,337	5,768	5,341
Total operating lease expense, excluding rent	$ 11,447	$ 10,996	$ 23,185	$ 22,487

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Capital and Regulatory Matters - Additional Information (Detail) $ / shares in Units, $ in Millions			3 Months Ended	6 Months Ended		12 Months Ended
	Jan. 26, 2022 USD ($)	Nov. 19, 2020 USD ($)	Mar. 31, 2022	Jun. 30, 2022 USD ($) quarter $ / shares shares	Jun. 30, 2021 shares	Dec. 31, 2021 USD ($) $ / shares shares
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
CECL Transition Amount				$ 46.2		$ 61.6
Treasury Stock, Shares, Acquired | shares				7,459	11,625
Maximum dividends available without prior regulatory approval				$ 447.3
Maximum number of quarterly periods by which the corporation has the right to defer interest payments on junior subordinated deferrable interest debentures | quarter				20
Series B Preferred Stock [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Preferred stock dividend rate percentage		4.45%
Preferred stock, shares issued | shares				150,000		150,000
Preferred Stock, Aggregate Liquidation Preference, Value				$ 150.0
Preferred stock, par value | $ / shares				$ 0.01		$ 0.01
Preferred Stock, Liquidation Preference Per Share | $ / shares				$ 1,000		$ 1,000
Number of Preferred Stock equivalent depositary shares | shares				40
Payments of Stock Issuance Costs		$ 4.5
Proceeds from Issuance of Preferred Stock and Preference Stock		$ 145.5
Series B Preferred Stock Equivalent Depositary Shares Member
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Preferred Stock, Liquidation Preference Per Share | $ / shares				$ 25
Cullen/Frost [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Additional Tier 1 Capital beyond Common Equity Tier 1				$ 145.5		$ 145.5
Preferred stock dividend rate percentage			4.45%	4.45%
Cullen/Frost [Member] | Trust Preferred Securities Tier Two Capital Allowable Portion [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Trust preferred securities				$ 120.0		120.0
Frost Bank [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Additional Tier 1 Capital beyond Common Equity Tier 1				$ 0.0		0.0
stock repurchase 2022 plan
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Stock Repurchase Program, Authorized Amount	$ 100.0
Stock Repurchase Program, Period in Force	1 year
stock repurchase 2022 plan | Treasury Stock [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Treasury Stock, Shares, Acquired | shares				0
Subordinated Debt [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Permissible Percentage Decreased Each Of Final Five Years Of Term Of Notes				20.00%
Final years of the term of the notes				5 years
Subordinated Debt [Member] | Cullen/Frost [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Permissible portion of subordinated note included in capital				$ 80.0		$ 100.0

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Capital and Regulatory Matters - Actual and Required Capital Ratios (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Cullen/Frost [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common Equity Tier 1 to Risk-Weighted Assets, Actual, Capital Amount	$ 3,485,759	$ 3,371,043
Common Equity Tier 1 to Risk-Weighted Assets, Actual , Ratio	12.64%	13.13%
Common Equity Tier 1 to Risk-Weighted Assets, Minimum Capital Required - Basel III Fully Phased-In, Capital Amount	$ 1,930,703	$ 1,796,549
Common Equity Tier 1 to Risk-Weighted Assets, Minimum Capital Required - Basel III Fully Phased In, Ratio	7.00%	7.00%
Common Equity Tier 1 to Risk-Weighted Assets, Required To Be Considered Well Capitalized, Capital Amount	$ 1,792,796	$ 1,668,224
Common Equity Tier 1 to Risk-Weighted Assets, Required To Be Considered Well Capitalized, Ratio	6.50%	6.50%
Tier 1 Capital to Risk-Weighted Assets, Actual, Capital Amount	$ 3,631,211	$ 3,516,495
Tier 1 Capital to Risk-Weighted Assets, Actual, Ratio	13.17%	13.70%
Tier 1 Capital to Risk-Weighted Assets, Minimum Capital Required - Basel III Fully Phased-In, Capital Amount	$ 2,344,425	$ 2,181,523
Tier 1 Capital to Risk-Weighted Assets, Minimum Capital Required - Basel III Fully Phased-In, Ratio	8.50%	8.50%
Tier 1 Capital to Risk-Weighted Assets, Required to be Considered Well Capitalized, Capital Amount	$ 2,206,518	$ 2,053,198
Tier 1 Capital to Risk-Weighted Assets, Required to be Considered Well Capitalized, Ratio	8.00%	8.00%
Total Capital to Risk-Weighted Assets, Actual, Capital Amount	$ 4,069,206	$ 3,966,244
Total Capital to Risk-Weighted Assets, Actual, Ratio	14.75%	15.45%
Total Capital to Risk-Weighted Assets, Minimum Capital Required - Basel III Fully Phased-In, Capital Amount	$ 2,896,055	$ 2,694,823
Total Capital to Risk-Weighted Assets, Minimum Capital Required - Basel III Fully Phased-In, Ratio	10.50%	10.50%
Total Capital to Risk-Weighted Assets, Required to be Considered Well Capitalized, Capital Amount	$ 2,758,148	$ 2,566,498
Total Capital to Risk-Weighted Assets, Required to be Considered Well Capitalized, Ratio	10.00%	10.00%
Leverage Ratio, Actual, Capital Amount	$ 3,631,211	$ 3,516,495
Leverage Ratio, Actual, Ratio	7.03%	7.34%
Leverage Ratio, Minimum Capital Required - Basel III Fully Phased-In, Capital Amount	$ 2,067,513	$ 1,917,533
Leverage Ratio, Minimum Capital Required - Basel III Fully Phased-In, Ratio	4.00%	4.00%
Leverage Ratio, Required to be Considered Well Capitalized, Capital Amount	$ 2,584,391	$ 2,396,917
Leverage Ratio, Required to be Considered Well Capitalized, Ratio	5.00%	5.00%
Frost Bank [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common Equity Tier 1 to Risk-Weighted Assets, Actual, Capital Amount	$ 3,423,585	$ 3,261,532
Common Equity Tier 1 to Risk-Weighted Assets, Actual , Ratio	12.42%	12.72%
Common Equity Tier 1 to Risk-Weighted Assets, Minimum Capital Required - Basel III Fully Phased-In, Capital Amount	$ 1,929,368	$ 1,795,221
Common Equity Tier 1 to Risk-Weighted Assets, Minimum Capital Required - Basel III Fully Phased In, Ratio	7.00%	7.00%
Common Equity Tier 1 to Risk-Weighted Assets, Required To Be Considered Well Capitalized, Capital Amount	$ 1,791,556	$ 1,666,991
Common Equity Tier 1 to Risk-Weighted Assets, Required To Be Considered Well Capitalized, Ratio	6.50%	6.50%
Tier 1 Capital to Risk-Weighted Assets, Actual, Capital Amount	$ 3,423,585	$ 3,261,532
Tier 1 Capital to Risk-Weighted Assets, Actual, Ratio	12.42%	12.72%
Tier 1 Capital to Risk-Weighted Assets, Minimum Capital Required - Basel III Fully Phased-In, Capital Amount	$ 2,342,804	$ 2,179,911
Tier 1 Capital to Risk-Weighted Assets, Minimum Capital Required - Basel III Fully Phased-In, Ratio	8.50%	8.50%
Tier 1 Capital to Risk-Weighted Assets, Required to be Considered Well Capitalized, Capital Amount	$ 2,204,992	$ 2,051,681
Tier 1 Capital to Risk-Weighted Assets, Required to be Considered Well Capitalized, Ratio	8.00%	8.00%
Total Capital to Risk-Weighted Assets, Actual, Capital Amount	$ 3,661,580	$ 3,491,281
Total Capital to Risk-Weighted Assets, Actual, Ratio	13.28%	13.61%
Total Capital to Risk-Weighted Assets, Minimum Capital Required - Basel III Fully Phased-In, Capital Amount	$ 2,894,052	$ 2,692,831
Total Capital to Risk-Weighted Assets, Minimum Capital Required - Basel III Fully Phased-In, Ratio	10.50%	10.50%
Total Capital to Risk-Weighted Assets, Required to be Considered Well Capitalized, Capital Amount	$ 2,756,240	$ 2,564,601
Total Capital to Risk-Weighted Assets, Required to be Considered Well Capitalized, Ratio	10.00%	10.00%
Leverage Ratio, Actual, Capital Amount	$ 3,423,585	$ 3,261,532
Leverage Ratio, Actual, Ratio	6.62%	6.80%
Leverage Ratio, Minimum Capital Required - Basel III Fully Phased-In, Capital Amount	$ 2,067,942	$ 1,917,679
Leverage Ratio, Minimum Capital Required - Basel III Fully Phased-In, Ratio	4.00%	4.00%
Leverage Ratio, Required to be Considered Well Capitalized, Capital Amount	$ 2,584,928	$ 2,397,099
Leverage Ratio, Required to be Considered Well Capitalized, Ratio	5.00%	5.00%

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Derivative Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Derivative [Line Items]
Weighted-average strike rate for outstanding interest rate caps	3.28%
Approximate credit exposure related to swaps with bank customers	$ 198,100
Cash collateral for borrowed securities deposited with other financial institutions	212,400
Interest rate swaps with upstream financial institution counterparties [Member]
Derivative [Line Items]
Approximate credit exposure related to swaps with bank customers	41,500
Not Designated as Hedging Instrument [Member] | Financial Institution Counterparties Loan Lease Interest Rate Swaps Liabilities [Member]
Derivative [Line Items]
Estimated fair value of derivative contracts cleared through Chicago Mercantile Exchange	$ 0	$ 0

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Derivative Financial Instruments - Schedule of Notional Amounts and Estimated Fair Values of Interest Rate Derivative Contracts Outstanding (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Designated as Hedging Instrument [Member] | Financial institution counterparties Loan/lease interest rate swaps assets [Member]
Derivatives, Fair Value [Line Items]
Forward Contracts – Assets Notional Amount	$ 1,743	$ 0
Estimated Fair Value	18	0
Designated as Hedging Instrument [Member] | Financial institution counterparties Loan/lease interest rate swaps liabilities [Member]
Derivatives, Fair Value [Line Items]
Forward Contracts – Liability Notional Amount	0	2,426
Estimated Fair Value	0	(34)
Non Designated as Hedging Instrument [Member] | Financial institution counterparties Loan/lease interest rate swaps assets [Member]
Derivatives, Fair Value [Line Items]
Forward Contracts – Assets Notional Amount	904,706	247,592
Estimated Fair Value	27,908	1,207
Non Designated as Hedging Instrument [Member] | Financial institution counterparties Loan/lease interest rate swaps liabilities [Member]
Derivatives, Fair Value [Line Items]
Forward Contracts – Liability Notional Amount	244,663	928,756
Estimated Fair Value	(2,489)	(19,142)
Non Designated as Hedging Instrument [Member] | Financial institution counterparties Loan/lease interest-rate caps assets [Member]
Derivatives, Fair Value [Line Items]
Forward Contracts – Assets Notional Amount	269,389	270,431
Estimated Fair Value	10,209	3,239
Non Designated as Hedging Instrument [Member] | Customer counterparties Loan/lease interest rate swaps assets [Member]
Derivatives, Fair Value [Line Items]
Forward Contracts – Assets Notional Amount	244,663	928,756
Estimated Fair Value	3,350	39,864
Non Designated as Hedging Instrument [Member] | Customer counterparties Loan/lease interest rate swaps liabilities [Member]
Derivatives, Fair Value [Line Items]
Forward Contracts – Liability Notional Amount	904,706	247,592
Estimated Fair Value	(45,542)	(2,846)
Non Designated as Hedging Instrument [Member] | Customer counterparties Loan/lease interest rate caps liabilities [Member]
Derivatives, Fair Value [Line Items]
Forward Contracts – Liability Notional Amount	269,389	270,431
Estimated Fair Value	$ (10,209)	$ (3,239)

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Derivative Financial Instruments - Schedule of Weighted-Average Rates Paid and Received for Interest Rate Swaps Outstanding (Detail)	Jun. 30, 2022
Weighted Average Interest Rate Paid [Member]
Short-duration insurance contracts, discounted liabilities [Line Items]
Fair value hedge loan/lease interest rate swaps	1.58%
Weighted-Average Interest Rate Received [Member]
Short-duration insurance contracts, discounted liabilities [Line Items]
Fair value hedge loan/lease interest rate swaps	1.06%
Financial Institution Counterparties [Member] | Weighted Average Interest Rate Paid [Member]
Short-duration insurance contracts, discounted liabilities [Line Items]
Non-hedging interest rate swaps – financial institution counterparties	3.71%
Financial Institution Counterparties [Member] | Weighted-Average Interest Rate Received [Member]
Short-duration insurance contracts, discounted liabilities [Line Items]
Non-hedging interest rate swaps – financial institution counterparties	2.87%
Customer Counterparties [Member] | Weighted Average Interest Rate Paid [Member]
Short-duration insurance contracts, discounted liabilities [Line Items]
Non-hedging interest rate swaps – customer counterparties	2.87%
Customer Counterparties [Member] | Weighted-Average Interest Rate Received [Member]
Short-duration insurance contracts, discounted liabilities [Line Items]
Non-hedging interest rate swaps – customer counterparties	3.71%

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Derivative Financial Instruments - Schedule of Notional Amounts and Estimated Fair Values of Commodity Derivative Positions (Detail) bbl in Thousands, MMBTU in Thousands, $ in Thousands	Jun. 30, 2022 USD ($) MMBTU bbl	Dec. 31, 2021 USD ($) MMBTU bbl
Financial Institution Counterparties [Member] | Oil Commodity Derivative [Member]
Derivative Instruments [Line Items]
Oil/Natural Gas Derivative Assets, Notional Amount | bbl	4,173	4,809
Oil/Natural Gas Derivative Liabilities, Notional Amount | bbl	9,125	7,032
Oil/Natural Gas Derivative Assets, Estimated Fair Value	$ 20,653	$ 14,721
Oil/Natural Gas Derivative Liabilities, Estimated Fair Value	$ (181,161)	$ (73,594)
Financial Institution Counterparties [Member] | Natural Gas Commodity Derivative [Member]
Derivative Instruments [Line Items]
Oil/Natural Gas Derivative Assets, Notional Amount | MMBTU	11,753	15,947
Oil/Natural Gas Derivative Liabilities, Notional Amount | MMBTU	21,557	29,446
Oil/Natural Gas Derivative Assets, Estimated Fair Value	$ 3,181	$ 4,143
Oil/Natural Gas Derivative Liabilities, Estimated Fair Value	$ (38,990)	$ (21,249)
Customer Counterparties [Member] | Oil Commodity Derivative [Member]
Derivative Instruments [Line Items]
Oil/Natural Gas Derivative Assets, Notional Amount | bbl	9,606	7,046
Oil/Natural Gas Derivative Liabilities, Notional Amount | bbl	3,692	4,796
Oil/Natural Gas Derivative Assets, Estimated Fair Value	$ 182,274	$ 74,437
Oil/Natural Gas Derivative Liabilities, Estimated Fair Value	$ (20,306)	$ (14,294)
Customer Counterparties [Member] | Natural Gas Commodity Derivative [Member]
Derivative Instruments [Line Items]
Oil/Natural Gas Derivative Assets, Notional Amount | MMBTU	21,557	29,446
Oil/Natural Gas Derivative Liabilities, Notional Amount | MMBTU	11,753	15,947
Oil/Natural Gas Derivative Assets, Estimated Fair Value	$ 39,110	$ 21,456
Oil/Natural Gas Derivative Liabilities, Estimated Fair Value	$ (3,181)	$ (4,124)

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Derivative Financial Instruments - Schedule of Notional Amounts and Fair Values of Open Foreign Currency Forward Contracts (Details) € in Thousands, $ in Thousands, $ in Thousands	Jun. 30, 2022 USD ($)	Jun. 30, 2022 EUR (€)	Jun. 30, 2022 CAD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 EUR (€)	Dec. 31, 2021 CAD ($)
Financial Institution Counterparties [Member] | GBP Foreign Exchange Forward
Derivative Instruments [Line Items]
Forward Contracts – Assets Estimated Fair Value	$ 16			$ 29
Forward Contracts - Liability Estimated Fair Value	(174)			0
Financial Institution Counterparties [Member] | Foreign Exchange Forward [Member]
Derivative Instruments [Line Items]
Forward Contracts – Assets Estimated Fair Value	9			0
Financial Institution Counterparties [Member] | Other Assets [Member] | Non Designated as Hedging Instrument [Member]
Derivative Instruments [Line Items]
Forward Contracts – Assets Notional Amount		€ 6,400	$ 658		€ 1,900	$ 658
Financial Institution Counterparties [Member] | Other Liabilities [Member] | Non Designated as Hedging Instrument [Member]
Derivative Instruments [Line Items]
Forward Contracts – Liability Notional Amount | €		6,400			0
Customer Counterparties [Member] | GBP Foreign Exchange Forward
Derivative Instruments [Line Items]
Forward Contracts – Assets Estimated Fair Value	174			0
Forward Contracts - Liability Estimated Fair Value	(16)			(55)
Customer Counterparties [Member] | Foreign Exchange Forward [Member]
Derivative Instruments [Line Items]
Forward Contracts – Assets Estimated Fair Value	0			4
Forward Contracts - Liability Estimated Fair Value	$ (5)			$ 0
Customer Counterparties [Member] | Other Assets [Member] | Non Designated as Hedging Instrument [Member]
Derivative Instruments [Line Items]
Forward Contracts – Assets Notional Amount		6,400	0		0	658
Customer Counterparties [Member] | Other Liabilities [Member] | Non Designated as Hedging Instrument [Member]
Derivative Instruments [Line Items]
Forward Contracts – Liability Notional Amount		€ 6,400	$ 658		€ 1,900	$ 0

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Derivative Financial Instruments - Schedule of Amounts Related to Interest Rate Derivatives Designated as Hedges of Fair Value (Detail) - Designated as Hedging Instrument [Member] - Commercial Loan/Lease Interest Rate Swaps [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Interest Income on Loans [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) included in income	$ (5)	$ (25)	$ (18)	$ (53)
Other Non-Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) included in income	$ 3	$ 2	$ 5	$ 5

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Derivative Financial Instruments - Schedule of Amounts Related to Non-Hedging Interest Rate and Commodity Derivatives (Detail) - Non Designated as Hedging Instrument [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Interest Rate Contract [Member] | Other Non-Interest Income [Member]
Other Non Interest Income Non Hedging Interest Rate Derivatives [Line Items]
Amount of gain (loss) included in income (expense)	$ 515	$ 141	$ 1,031	$ 1,728
Interest Rate Contract [Member] | Other Non-Interest Expense [Member]
Other Non Interest Income Non Hedging Interest Rate Derivatives [Line Items]
Amount of gain (loss) included in income (expense)	0	0	0	(1)
Commodity Contract [Member] | Other Non-Interest Income [Member]
Other Non Interest Income Non Hedging Interest Rate Derivatives [Line Items]
Amount of gain (loss) included in income (expense)	649	969	1,578	2,123
Foreign Currency Derivative Contracts [Member] | Other Non-Interest Income [Member]
Other Non Interest Income Non Hedging Interest Rate Derivatives [Line Items]
Amount of gain (loss) included in income (expense)	$ 45	$ 0	$ 63	$ 30

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Balance Sheet Offsetting - Financial Instruments Eligible for Offset Consolidated Balance Sheet (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Gross Amount Recognized, Derivatives, Financial Assets	$ 61,994	$ 23,339
Gross Amount Offset, Derivatives, Financial assets	0	0
Net Amount Recognized, Derivatives, Financial assets	61,994	23,339
Gross Amount Recognized, Resell agreements, Financial assets	9,650	7,903
Gross Amount Offset, Resell agreements, Financial assets	0	0
Net Amount Recognized, Resell agreements, Financial assets	9,650	7,903
Gross Amount Recognized, Financial assets	71,644	31,242
Gross Amount Offset, Financial assets	0	0
Net Amount Recognized, Financial assets	71,644	31,242
Gross Amount Recognized, Derivatives, Financial Liabilities	222,814	114,019
Gross Amount Offset, Derivatives, Financial liabilities	0	0
Net Amount Recognized, Derivatives, Financial liabilities	222,814	114,019
Gross Amount Recognized, Repurchase agreements, Financial liabilities	1,664,685	2,740,799
Gross Amount Offset, Repurchase agreements, Financial liabilities	0	0
Net Amount Recognized, Repurchase agreements, Financial liabilities	1,664,685	2,740,799
Gross Amount Recognized, Financial liabilities	1,887,499	2,854,818
Gross Amount Offset, Financial liabilities	0	0
Net Amount Recognized, Financial Liabilities	1,887,499	2,854,818
Loan/lease interest rate swaps and caps [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Gross Amount Recognized, Derivatives, Financial Assets	38,135	4,446
Gross Amount Offset, Derivatives, Financial assets	0	0
Net Amount Recognized, Derivatives, Financial assets	38,135	4,446
Gross Amount Recognized, Derivatives, Financial Liabilities	2,489	19,176
Gross Amount Offset, Derivatives, Financial liabilities	0	0
Net Amount Recognized, Derivatives, Financial liabilities	2,489	19,176
Commodity swaps and options [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Gross Amount Recognized, Derivatives, Financial Assets	23,834	18,864
Gross Amount Offset, Derivatives, Financial assets	0	0
Net Amount Recognized, Derivatives, Financial assets	23,834	18,864
Gross Amount Recognized, Derivatives, Financial Liabilities	220,151	94,843
Gross Amount Offset, Derivatives, Financial liabilities	0	0
Net Amount Recognized, Derivatives, Financial liabilities	220,151	$ 94,843
Foreign currency forward contracts [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Gross Amount Recognized, Derivatives, Financial Assets	25
Gross Amount Offset, Derivatives, Financial assets	0
Net Amount Recognized, Derivatives, Financial assets	25
Gross Amount Recognized, Derivatives, Financial Liabilities	174
Gross Amount Offset, Derivatives, Financial liabilities	0
Net Amount Recognized, Derivatives, Financial liabilities	$ 174

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Balance Sheet Offsetting - Financial Instruments Derivative Assets Liabilities and Resell Agreements Net of Amount Not Offset (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Net Amount Recognized, Derivatives, Financial Assets	$ 61,994	$ 23,339
Gross Amounts Not Offset, Financial Instruments, Total Derivatives, Financial Assets	(51,552)	(23,339)
Gross Amount Not Offset Collateral, Derivatives, Financial Assets	(10,442)	0
Net Amount, Derivatives, Financial Assets	0	0
Net Amount Recognized, Resell agreements, Financial Assets	9,650	7,903
Gross Amounts Not Offset Financial Instruments, Resell Agreements	0	0
Gross Amounts Not Offset Collateral, Resell Agreements, Financial Assets	(9,650)	(7,903)
Net Amount, Financial Assets, Resell Agreements	0	0
Net Amount Recognized, Total Financial Assets	71,644	31,242
Gross Amounts Not Offset Collateral, Financial Assets	(20,092)	(7,903)
Net Amount, Financial Assets	0	0
Net Amount Recognized, Derivatives, Financial Liabilities	222,814	114,019
Gross Amounts Not Offset Financial Instruments, Total Derivatives, Financial Liabilities	(51,552)	(23,339)
Gross Amounts Not Offset Collateral, Derivatives, Financial Liabilities	(170,983)	(90,573)
Net Amount, Derivatives, Financial Liabilities	279	107
Net Amount Recognized, Repurchase Agreements, Financial Liabilities	1,664,685	2,740,799
Gross Amounts Not Offset Financial Instruments, Repurchase Agreements, Financial Liabilities	0	0
Gross Amounts Not Offset Collateral, Repurchase Agreements, Financial Liabilities	(1,664,685)	(2,740,799)
Net Amount, Repurchase Agreements, Financial Liabilities	0	0
Net Amount Recognized, Financial Liabilities	1,887,499	2,854,818
Gross Amounts Not Offset Collateral, Financial Liabilities	(1,835,668)	(2,831,372)
Net Amount, Financial Liabilities	279	107
Counterparty A [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Net Amount Recognized, Derivatives, Financial Assets	41	6
Gross Amounts Not Offset, Financial Instruments, Total Derivatives, Financial Assets	(41)	(6)
Gross Amount Not Offset Collateral, Derivatives, Financial Assets	0	0
Net Amount, Derivatives, Financial Assets	0	0
Net Amount Recognized, Derivatives, Financial Liabilities	1,726	3,870
Gross Amounts Not Offset Financial Instruments, Total Derivatives, Financial Liabilities	(41)	(6)
Gross Amounts Not Offset Collateral, Derivatives, Financial Liabilities	(1,571)	(3,864)
Net Amount, Derivatives, Financial Liabilities	114	0
Counterparty B [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Net Amount Recognized, Derivatives, Financial Assets	25,962	7,655
Gross Amounts Not Offset, Financial Instruments, Total Derivatives, Financial Assets	(25,962)	(7,655)
Gross Amount Not Offset Collateral, Derivatives, Financial Assets	0	0
Net Amount, Derivatives, Financial Assets	0	0
Net Amount Recognized, Derivatives, Financial Liabilities	50,901	28,130
Gross Amounts Not Offset Financial Instruments, Total Derivatives, Financial Liabilities	(25,962)	(7,655)
Gross Amounts Not Offset Collateral, Derivatives, Financial Liabilities	(24,939)	(20,475)
Net Amount, Derivatives, Financial Liabilities	0	0
Counterparty C [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Net Amount Recognized, Derivatives, Financial Assets	16
Gross Amounts Not Offset, Financial Instruments, Total Derivatives, Financial Assets	(16)
Gross Amount Not Offset Collateral, Derivatives, Financial Assets	0
Net Amount, Derivatives, Financial Assets	0
Net Amount Recognized, Derivatives, Financial Liabilities	174	9
Gross Amounts Not Offset Financial Instruments, Total Derivatives, Financial Liabilities	(16)	0
Gross Amounts Not Offset Collateral, Derivatives, Financial Liabilities	(10)	(9)
Net Amount, Derivatives, Financial Liabilities	148	0
Other Counterparties [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Net Amount Recognized, Derivatives, Financial Assets	35,975	15,678
Gross Amounts Not Offset, Financial Instruments, Total Derivatives, Financial Assets	(25,533)	(15,678)
Gross Amount Not Offset Collateral, Derivatives, Financial Assets	(10,442)	0
Net Amount, Derivatives, Financial Assets	0	0
Net Amount Recognized, Derivatives, Financial Liabilities	170,013	82,010
Gross Amounts Not Offset Financial Instruments, Total Derivatives, Financial Liabilities	(25,533)	(15,678)
Gross Amounts Not Offset Collateral, Derivatives, Financial Liabilities	(144,463)	(66,225)
Net Amount, Derivatives, Financial Liabilities	$ 17	$ 107

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Balance Sheet Offsetting Balance Sheet Offsetting - Remaining Contractual Maturity of the Securities Sold Under Agreement to Repurchase (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Remaining Contractual Maturity of the Securities Sold Under Agreement to Repurchase [Line Items]
Remaining contractual maturity of the agreements overnight and continuous	$ 1,664,685	$ 2,740,799
Remaining contractual maturity of the agreements up to 30 Days	0	0
Remaining contractual maturity of the agreements 30 to 90 Days	0	0
Remaining contractual maturity of the agreements greater than 90 Days	0	0
Remaining contractual maturity of the agreements total	1,664,685	2,740,799
Securities Sold under Agreements to Repurchase, Gross	1,664,685	2,740,799
Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Securities	0	0
US Treasury Securities [Member]
Remaining Contractual Maturity of the Securities Sold Under Agreement to Repurchase [Line Items]
Remaining contractual maturity of the agreements overnight and continuous	834,063	1,342,591
Remaining contractual maturity of the agreements up to 30 Days	0	0
Remaining contractual maturity of the agreements 30 to 90 Days	0	0
Remaining contractual maturity of the agreements greater than 90 Days	0	0
Remaining contractual maturity of the agreements total	834,063	1,342,591
Residential Mortgage Backed Securities [Member]
Remaining Contractual Maturity of the Securities Sold Under Agreement to Repurchase [Line Items]
Remaining contractual maturity of the agreements overnight and continuous	830,622	1,398,208
Remaining contractual maturity of the agreements up to 30 Days	0	0
Remaining contractual maturity of the agreements 30 to 90 Days	0	0
Remaining contractual maturity of the agreements greater than 90 Days	0	0
Remaining contractual maturity of the agreements total	$ 830,622	$ 1,398,208

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Stock-Based Compensation Stock-Based Compensation - Narrative (Details)	Jun. 30, 2022 shares
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	788,070

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Stock-Based Compensation - Summary of Activity in Corporation's Active Stock Plans (Detail) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options exercised, Number of Shares	(28,832)	(114,252)	(144,262)	(628,076)
Director deferred stock units outstanding [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning Balance, Number of Shares/Units			56,301
Granted, Number of Units			5,382
Stock Awards exercised/vested, Number of Shares			(16,022)
Ending Balance, Number of Shares/Units	45,661		45,661
Beginning Balance, Weighted-Average Grant-Date Fair Value			$ 79.21
Granted Weighted-Average Grant-Date Fair Value			133.67
Stock Award Exercised/Vested, Weighted Average Grant Date Fair Value			74.89
Ending Balance, Weighted-Average Grant-Date Fair Value	$ 87.15		$ 87.15
Non-Vested Stock Awards/Stock Units Outstanding [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning Balance, Number of Shares/Units			449,337
Granted, Number of Units			3,460
Forfeited/expired, Number of Shares/Units			(3,167)
Ending Balance, Number of Shares/Units	449,630		449,630
Beginning Balance, Weighted-Average Grant-Date Fair Value			$ 93.05
Granted Weighted-Average Grant-Date Fair Value			132.72
Forfeited/Expired, Weighted-Average Price			94.57
Ending Balance, Weighted-Average Grant-Date Fair Value	$ 93.35		$ 93.35
Stock Options Outstanding [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning Balance, Number of Shares			877,681
Stock options exercised, Number of Shares			(103,060)
Ending Balance, Number of Shares	774,621		774,621
Beginning Balance, Weighted-Average Exercise Price			$ 69.02
Stock options exercised, Weighted-Average Exercise Price			62.97
Ending Balance, Weighted-Average Exercise Price	$ 69.83		$ 69.83
Maximum [Member] | Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning Balance, Number of Shares/Units			202,460
Stock Awards exercised/vested, Number of Shares			(25,180)
Forfeited/expired, Number of Shares/Units			(16,058)
Ending Balance, Number of Shares/Units	161,222		161,222
Beginning Balance, Weighted-Average Grant-Date Fair Value			$ 84.71
Stock Award Exercised/Vested, Weighted Average Grant Date Fair Value			87.18
Forfeited/Expired, Weighted-Average Price			87.18
Ending Balance, Weighted-Average Grant-Date Fair Value	$ 84.08		$ 84.08

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Stock-Based Compensation - Shares Issued in Connection with Stock Compensation Awards (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
New shares issued from available authorized shares	0	0	0	0
Shares issued from available treasury stock	28,832	114,252	144,262	628,076
Proceeds from stock option exercises	$ 751	$ 7,285	$ 6,490	$ 36,682

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Stock-Based Compensation - Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 3,418	$ 3,245	$ 5,530	$ 5,771
Income tax benefit	612	514	1,320	881
Non-Vested Stock Awards/Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Stock or Unit Expense	2,291	1,768	4,649	3,651
Director deferred stock units outstanding [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Stock or Unit Expense	720	700	720	700
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Stock or Unit Expense	$ 407	$ 777	$ 161	$ 1,420

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Stock-Based Compensation - Unrecognized Stock-Based Compensation Expense (Detail) $ in Thousands	Jun. 30, 2022 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested stock units	$ 13,954
Performance stock units	8,256
Total	$ 22,210

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Earnings Per Common Share - Basic and Diluted Earnings Per Common Share (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Net income	$ 119,114	$ 118,068	$ 218,216	$ 234,083
Less: Preferred stock dividends	1,669	1,669	3,338	3,820
Net income available to common shareholders	117,445	116,399	214,878	230,263
Less: Earnings allocated to participating securities	1,036	1,141	1,888	2,307
Distributed earnings allocated to common stock	48,092	45,824	96,143	91,484
Undistributed earnings allocated to common stock	68,317	69,434	116,847	136,472
Net earnings allocated to common stock	$ 116,409	$ 115,258	$ 212,990	$ 227,956
Weighted-average shares outstanding for basic earnings per common share	64,112,828	63,606,340	64,082,185	63,457,245
Dilutive effect of stock compensation	354,401	495,819	382,395	511,288
Weighted-average shares outstanding for diluted earnings per common share	64,467,229	64,102,159	64,464,580	63,968,533

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Defined Benefit Plans Additional Information (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Retirement Benefits [Abstract]
Defined Benefit Plan, Plan Assets, Contributions by Employer	$ 0
Defined Benefit Plan, Expected Future Employer Contributions, Current Fiscal Year	$ 0

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Defined Benefit Plans - Net Periodic Cost (Benefit) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Retirement Benefits [Abstract]
Expected return on plan assets, net of expenses	$ (3,492)	$ (3,210)	$ (6,983)	$ (6,420)
Interest cost on projected benefit obligation	1,004	836	2,008	1,671
Net amortization and deferral	741	1,529	1,482	3,058
Net periodic expense (benefit)	$ (1,747)	$ (845)	$ (3,493)	$ (1,691)

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Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Deferred Tax Assets, Net	$ 245.9		$ 245.9
Deferred Tax Liabilities, Net					$ 81.2
Valuation allowance	$ 0.0		$ 0.0
U.S. federal statutory income tax rate, percent	21.00%	21.00%	21.00%	21.00%
Unrecognized tax benefits	$ 0.0	$ 0.0	$ 0.0	$ 0.0

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Income Taxes - Income Tax Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Current income tax expense (benefit)	$ 22,646	$ 14,065	$ 35,705	$ 17,790
Deferred income tax expense (benefit)	(1,972)	1,016	(2,404)	5,188
Income tax expense, as reported	$ 20,674	$ 15,081	$ 33,301	$ 22,978
Effective tax rate	14.80%	11.30%	13.20%	8.90%

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Other Comprehensive Income (Loss) - Component of Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Equity [Abstract]
Securities available for sale and transferred securities, Change in net unrealized gain/loss during the period, Before Tax Amount	$ (636,523)	$ 30,668	$ (1,547,318)	$ (129,111)
Securities available for sale and transferred securities, Change in net unrealized gain on securities transferred to held to maturity, Before Tax Amount	(189)	(245)	(398)	(504)
Securities available for sale and transferred securities, Reclassification adjustment for net (gains) losses included in net income, Before Tax Amount	0	0	0	0
Total securities available for sale and transferred securities, before tax amount	(636,712)	30,423	(1,547,716)	(129,615)
Reclassification adjustment for net amortization of actuarial gain/loss included in net income as a component of net periodic cost (benefit), before tax amount	741	1,529	1,482	3,058
Total defined-benefit post-retirement benefit plans	741	1,529	1,482	3,058
Total other comprehensive income (loss), before tax	(635,971)	31,952	(1,546,234)	(126,557)
Securities available for sale and transferred securities, Change in net unrealized gain/loss during the period, Tax Expense (Benefit)	(133,670)	6,441	(324,937)	(27,113)
Securities available for sale and transferred securities, Change in net unrealized gain on securities transferred to held to maturity, Tax Expense (Benefit)	(40)	(52)	(84)	(106)
Securities available for sale and transferred securities, Reclassification adjustment for net (gains) losses included in net income, Tax Expense (Benefit)	0	0	0	0
Total securities available for sale and transferred securities, Tax Expense (Benefit)	(133,710)	6,389	(325,021)	(27,219)
Reclassification adjustment for net amortization of actuarial gain/loss included in net income as a component of net periodic cost (benefit), Tax Expense (Benefit)	155	321	311	642
Total defined-benefit post-retirement benefit plans, Tax Expense (Benefit)	155	321	311	642
Total other comprehensive income (loss), Tax Expense (Benefit)	(133,555)	6,710	(324,710)	(26,577)
Securities available for sale and transferred securities, Change in net unrealized gain/loss during the period, Net of Tax	(502,853)	24,227	(1,222,381)	(101,998)
Securities available for sale and transferred securities, Change in net unrealized gain on securities transferred to held to maturity, Net of Tax	(149)	(193)	(314)	(398)
Securities available for sale and transferred securities, Reclassification adjustment for net (gains) losses included in net income, Net of Tax	0	0	0	0
Total securities available for sale and transferred securities, Net of Tax	(503,002)	24,034	(1,222,695)	(102,396)
Reclassification adjustment for net amortization of actuarial gain/lloss included in net income as a component of net periodic cost (benefit), Net of Tax	586	1,208	1,171	2,416
Total defined-benefit post-retirement benefit plans, Net of Tax Amount	586	1,208	1,171	2,416
Other comprehensive income (loss), net of tax	$ (502,416)	$ 25,242	$ (1,221,524)	$ (99,980)

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Other Comprehensive Income - Schedule of Accumulated Other Comprehensive Income, Net of Tax (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance			$ 347,318
Other comprehensive income (loss), net of tax	$ (502,416)	$ 25,242	(1,221,524)	$ (99,980)
Ending Balance	(874,206)		(874,206)
Securities Available For Sale [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance			380,209	563,801
Other comprehensive income (loss) before reclassifications			(1,222,695)	(102,396)
Reclassification of amounts included in net income			0	0
Other comprehensive income (loss), net of tax			(1,222,695)	(102,396)
Ending Balance	(842,486)	461,405	(842,486)	461,405
Defined Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance			(32,891)	(50,831)
Other comprehensive income (loss) before reclassifications			0	0
Reclassification of amounts included in net income			1,171	2,416
Other comprehensive income (loss), net of tax			1,171	2,416
Ending Balance	(31,720)	(48,415)	(31,720)	(48,415)
AOCI Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance			347,318	512,970
Other comprehensive income (loss) before reclassifications			(1,222,695)	(102,396)
Reclassification of amounts included in net income			1,171	2,416
Other comprehensive income (loss), net of tax			(1,221,524)	(99,980)
Ending Balance	$ (874,206)	$ 412,990	$ (874,206)	$ 412,990

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Operating Segments - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2022 Segment
Segment Reporting [Abstract]
Number of primary operating segments	2

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Operating Segments - Summary of Operating Results by Segment (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Interest Income (Expense), Net	$ 288,208	$ 257,156	$ 537,279	$ 498,037
Credit loss expense	0	0	0	63
Total non-interest income	97,927	91,247	199,317	184,483
Total non-interest expense	246,347	215,254	485,079	425,396
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	139,788	133,149	251,517	257,061
Income taxes	20,674	15,081	33,301	22,978
Net income	119,114	118,068	218,216	234,083
Less: Preferred stock dividends	1,669	1,669	3,338	3,820
Net Income (Loss) Available to Common Stockholders, Basic	117,445	116,399	214,878	230,263
Revenues from (expenses to) external customers	386,135	348,403	736,596	682,520
Bank
Segment Reporting Information [Line Items]
Interest Income (Expense), Net	289,186	258,450	539,305	500,655
Credit loss expense	1	0	0	63
Total non-interest income	55,397	48,944	114,103	102,724
Total non-interest expense	211,044	183,109	417,582	362,260
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	133,538	124,285	235,826	241,056
Income taxes	19,821	13,605	30,835	20,782
Net income	113,717	110,680	204,991	220,274
Less: Preferred stock dividends	0	0	0	0
Net Income (Loss) Available to Common Stockholders, Basic	113,717	110,680	204,991	220,274
Revenues from (expenses to) external customers	344,583	307,394	653,408	603,379
Frost Wealth Advisors [Member]
Segment Reporting Information [Line Items]
Interest Income (Expense), Net	958	508	1,658	994
Credit loss expense	(1)	0	0	0
Total non-interest income	43,054	42,534	86,283	82,143
Total non-interest expense	33,158	30,014	64,068	59,951
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	10,855	13,028	23,873	23,186
Income taxes	2,279	2,736	5,013	4,869
Net income	8,576	10,292	18,860	18,317
Less: Preferred stock dividends	0	0	0	0
Net Income (Loss) Available to Common Stockholders, Basic	8,576	10,292	18,860	18,317
Revenues from (expenses to) external customers	44,012	43,042	87,941	83,137
Non-Banks [Member]
Segment Reporting Information [Line Items]
Interest Income (Expense), Net	(1,936)	(1,802)	(3,684)	(3,612)
Credit loss expense	0	0	0	0
Total non-interest income	(524)	(231)	(1,069)	(384)
Total non-interest expense	2,145	2,131	3,429	3,185
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	(4,605)	(4,164)	(8,182)	(7,181)
Income taxes	(1,426)	(1,260)	(2,547)	(2,673)
Net income	(3,179)	(2,904)	(5,635)	(4,508)
Less: Preferred stock dividends	1,669	1,669	3,338	3,820
Net Income (Loss) Available to Common Stockholders, Basic	(4,848)	(4,573)	(8,973)	(8,328)
Revenues from (expenses to) external customers	$ (2,460)	$ (2,033)	$ (4,753)	$ (3,996)

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Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments using fair value measurement option	$ 0	$ 0

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Fair Value Measurements - Financial Assets and Financial Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale, at estimated fair value	$ 16,781,685	$ 13,924,628
Trading account securities	24,680	25,162
Derivative assets	61,994	23,339
Derivative liabilities	222,814	114,019
Interest rate swaps, caps and floors [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	41,485	44,310
Derivative liabilities	58,240	25,261
Commodity swaps and options [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	245,218	114,757
Derivative liabilities	243,638	113,261
Foreign Exchange Forward [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	199	33
Derivative liabilities	195	55
U.S. Treasury [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale, at estimated fair value	4,416,299	2,179,433
Trading account securities	24,615	24,237
Residential Mortgage Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale, at estimated fair value	5,335,725	4,066,265
States and political subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale, at estimated fair value	6,987,296	7,636,571
Trading account securities	65	925
Other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale, at estimated fair value	42,365	42,359
Level 1 [Member] | Foreign Exchange Forward [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	199	33
Derivative liabilities	195	55
Level 1 [Member] | U.S. Treasury [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale, at estimated fair value	4,416,299	2,179,433
Trading account securities	24,615	24,237
Level 2 [Member] | Interest rate swaps, caps and floors [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	41,485	44,310
Derivative liabilities	58,240	25,261
Level 2 [Member] | Commodity swaps and options [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	245,218	114,757
Derivative liabilities	243,638	113,261
Level 2 [Member] | Residential Mortgage Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale, at estimated fair value	5,335,725	4,066,265
Level 2 [Member] | States and political subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale, at estimated fair value	6,987,296	7,636,571
Trading account securities	65	925
Level 2 [Member] | Other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale, at estimated fair value	$ 42,365	$ 42,359

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Fair Value Measurements - Impaired Loans Remeasured and Reported at Fair Value of Underlying Collateral (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Level 2 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Carrying value of impaired loans before allocations	$ 5,454	$ 3,399
Impaired Financing Receivable, Related Allowance	(1,327)	(336)
Loans receivable, fair value disclosure	4,127	3,063
Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Carrying value of impaired loans before allocations	3,614	19,423
Impaired Financing Receivable, Related Allowance		(3,273)
Impaired Financing Receivable, Reversal of Specific Valuation Allowance Allocations	6,877
Loans receivable, fair value disclosure	$ 10,491	$ 16,150

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Fair Value Measurements - Estimated Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 13,658,585	$ 16,583,000	$ 15,184,395	$ 10,288,853
Securities held to maturity	1,946,428	1,749,179
Loans, net	16,496,394	16,087,731
Deposits	45,601,765	42,695,696
Federal funds purchased	43,200	25,925
Repurchase agreements	1,664,685	2,740,799
Junior subordinated deferrable interest debentures	123,040	123,011
Subordinated notes	99,256	99,178
Carrying Amount [Member] | Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	13,658,585	16,583,000
Securities held to maturity	1,946,428	1,749,179
Cash surrender value of life insurance policies	189,823	190,139
Accrued interest receivable	194,049	179,111
Deposits	45,601,765	42,695,696
Federal funds purchased	43,200	25,925
Repurchase agreements	1,664,685	2,740,799
Junior subordinated deferrable interest debentures	123,040	123,011
Subordinated notes	99,256	99,178
Accrued interest payable	6,059	3,026
Carrying Amount [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans, net	16,496,394	16,087,731
Estimated Fair Value [Member] | Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	13,658,585	16,583,000
Securities held to maturity	1,828,515	1,809,143
Cash surrender value of life insurance policies	189,823	190,139
Accrued interest receivable	194,049	179,111
Deposits	45,584,113	41,343,426
Federal funds purchased	43,200	25,925
Repurchase agreements	1,664,685	2,740,799
Junior subordinated deferrable interest debentures	123,712	123,712
Subordinated notes	99,626	111,430
Accrued interest payable	6,059	3,026
Estimated Fair Value [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans, net	$ 16,126,497	$ 16,079,454