false2024Q10000039263December 31P5YP5YP1Y00000392632024-01-012024-03-310000039263us-gaap:CommonStockMemberexch:XNYS2024-01-012024-03-310000039263us-gaap:SeriesBPreferredStockMemberexch:XNYS2024-01-012024-03-3100000392632024-04-18xbrli:shares00000392632024-03-31iso4217:USDxbrli:sharesiso4217:USD00000392632023-12-310000039263us-gaap:SeriesBPreferredStockMember2024-03-310000039263us-gaap:SeriesBPreferredStockMember2023-12-3100000392632023-01-012023-03-310000039263us-gaap:PreferredStockMember2023-12-310000039263us-gaap:CommonStockMember2023-12-310000039263us-gaap:AdditionalPaidInCapitalMember2023-12-310000039263us-gaap:RetainedEarningsMember2023-12-310000039263us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-12-310000039263us-gaap:TreasuryStockCommonMember2023-12-310000039263us-gaap:RetainedEarningsMember2024-01-012024-03-310000039263us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-03-310000039263us-gaap:TreasuryStockCommonMember2024-01-012024-03-310000039263us-gaap:AdditionalPaidInCapitalMember2024-01-012024-03-310000039263us-gaap:PreferredStockMember2024-03-310000039263us-gaap:CommonStockMember2024-03-310000039263us-gaap:AdditionalPaidInCapitalMember2024-03-310000039263us-gaap:RetainedEarningsMember2024-03-310000039263us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-03-310000039263us-gaap:TreasuryStockCommonMember2024-03-310000039263us-gaap:PreferredStockMember2022-12-310000039263us-gaap:CommonStockMember2022-12-310000039263us-gaap:AdditionalPaidInCapitalMember2022-12-310000039263us-gaap:RetainedEarningsMember2022-12-310000039263us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310000039263us-gaap:TreasuryStockCommonMember2022-12-3100000392632022-12-310000039263us-gaap:RetainedEarningsMember2023-01-012023-03-310000039263us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-03-310000039263us-gaap:CommonStockMember2023-01-012023-03-310000039263us-gaap:AdditionalPaidInCapitalMember2023-01-012023-03-310000039263us-gaap:TreasuryStockCommonMember2023-01-012023-03-310000039263us-gaap:PreferredStockMember2023-03-310000039263us-gaap:CommonStockMember2023-03-310000039263us-gaap:AdditionalPaidInCapitalMember2023-03-310000039263us-gaap:RetainedEarningsMember2023-03-310000039263us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-03-310000039263us-gaap:TreasuryStockCommonMember2023-03-3100000392632023-03-310000039263us-gaap:ResidentialMortgageBackedSecuritiesMember2024-03-310000039263us-gaap:USStatesAndPoliticalSubdivisionsMember2024-03-310000039263us-gaap:OtherInvestmentsMember2024-03-310000039263us-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310000039263us-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000039263us-gaap:OtherInvestmentsMember2023-12-310000039263us-gaap:HeldtomaturitySecuritiesMember2024-03-310000039263us-gaap:HeldtomaturitySecuritiesMember2023-12-310000039263srt:MoodysAaaRatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMembercfr:NotGuaranteedorPreRefundedMember2024-03-310000039263cfr:GuaranteedbytheTexasPSFMembersrt:MoodysAaaRatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-03-310000039263cfr:GuaranteedByThirdPartyMembersrt:MoodysAaaRatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-03-310000039263srt:MoodysAaaRatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMembercfr:PreRefundedMember2024-03-310000039263srt:MoodysAaaRatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-03-310000039263us-gaap:OtherInvestmentsMembersrt:MoodysAaaRatingMember2024-03-310000039263srt:MoodysAa1RatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMembercfr:NotGuaranteedorPreRefundedMember2024-03-310000039263cfr:GuaranteedbytheTexasPSFMembersrt:MoodysAa1RatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-03-310000039263cfr:GuaranteedByThirdPartyMembersrt:MoodysAa1RatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-03-310000039263srt:MoodysAa1RatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMembercfr:PreRefundedMember2024-03-310000039263us-gaap:USStatesAndPoliticalSubdivisionsMembersrt:MoodysAa1RatingMember2024-03-310000039263us-gaap:OtherInvestmentsMembersrt:MoodysAa1RatingMember2024-03-310000039263cfr:NotratedMemberus-gaap:USStatesAndPoliticalSubdivisionsMembercfr:NotGuaranteedorPreRefundedMember2024-03-310000039263cfr:GuaranteedbytheTexasPSFMembercfr:NotratedMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-03-310000039263cfr:GuaranteedByThirdPartyMembercfr:NotratedMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-03-310000039263cfr:NotratedMemberus-gaap:USStatesAndPoliticalSubdivisionsMembercfr:PreRefundedMember2024-03-310000039263cfr:NotratedMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-03-310000039263cfr:NotratedMemberus-gaap:OtherInvestmentsMember2024-03-310000039263us-gaap:USStatesAndPoliticalSubdivisionsMembercfr:NotGuaranteedorPreRefundedMember2024-03-310000039263cfr:GuaranteedbytheTexasPSFMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-03-310000039263cfr:GuaranteedByThirdPartyMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-03-310000039263us-gaap:USStatesAndPoliticalSubdivisionsMembercfr:PreRefundedMember2024-03-310000039263srt:MoodysAaaRatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMembercfr:NotGuaranteedorPreRefundedMember2023-12-310000039263cfr:GuaranteedbytheTexasPSFMembersrt:MoodysAaaRatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000039263cfr:GuaranteedByThirdPartyMembersrt:MoodysAaaRatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000039263srt:MoodysAaaRatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMembercfr:PreRefundedMember2023-12-310000039263srt:MoodysAaaRatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000039263us-gaap:OtherInvestmentsMembersrt:MoodysAaaRatingMember2023-12-310000039263srt:MoodysAa1RatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMembercfr:NotGuaranteedorPreRefundedMember2023-12-310000039263cfr:GuaranteedbytheTexasPSFMembersrt:MoodysAa1RatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000039263cfr:GuaranteedByThirdPartyMembersrt:MoodysAa1RatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000039263srt:MoodysAa1RatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMembercfr:PreRefundedMember2023-12-310000039263us-gaap:USStatesAndPoliticalSubdivisionsMembersrt:MoodysAa1RatingMember2023-12-310000039263us-gaap:OtherInvestmentsMembersrt:MoodysAa1RatingMember2023-12-310000039263cfr:NotratedMemberus-gaap:USStatesAndPoliticalSubdivisionsMembercfr:NotGuaranteedorPreRefundedMember2023-12-310000039263cfr:GuaranteedbytheTexasPSFMembercfr:NotratedMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000039263cfr:GuaranteedByThirdPartyMembercfr:NotratedMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000039263cfr:NotratedMemberus-gaap:USStatesAndPoliticalSubdivisionsMembercfr:PreRefundedMember2023-12-310000039263cfr:NotratedMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000039263cfr:NotratedMemberus-gaap:OtherInvestmentsMember2023-12-310000039263us-gaap:USStatesAndPoliticalSubdivisionsMembercfr:NotGuaranteedorPreRefundedMember2023-12-310000039263cfr:GuaranteedbytheTexasPSFMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000039263cfr:GuaranteedByThirdPartyMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000039263us-gaap:USStatesAndPoliticalSubdivisionsMembercfr:PreRefundedMember2023-12-310000039263us-gaap:DebtSecuritiesMember2023-12-310000039263us-gaap:DebtSecuritiesMember2022-12-310000039263us-gaap:DebtSecuritiesMember2024-01-012024-03-310000039263us-gaap:DebtSecuritiesMember2023-01-012023-03-310000039263us-gaap:DebtSecuritiesMember2024-03-310000039263us-gaap:DebtSecuritiesMember2023-03-310000039263us-gaap:USTreasurySecuritiesMember2024-03-310000039263us-gaap:USTreasurySecuritiesMember2023-12-31xbrli:pure0000039263us-gaap:AvailableforsaleSecuritiesMember2024-03-310000039263us-gaap:AvailableforsaleSecuritiesMember2023-12-310000039263us-gaap:CommercialPortfolioSegmentMember2024-03-310000039263us-gaap:CommercialPortfolioSegmentMember2023-12-310000039263cfr:EnergyProductionMember2024-03-310000039263cfr:EnergyProductionMember2023-12-310000039263us-gaap:EnergyServiceMember2024-03-310000039263us-gaap:EnergyServiceMember2023-12-310000039263cfr:EnergyOtherMember2024-03-310000039263cfr:EnergyOtherMember2023-12-310000039263cfr:CommercialandIndustrialTotalEnergyLoansMember2024-03-310000039263cfr:CommercialandIndustrialTotalEnergyLoansMember2023-12-310000039263cfr:CommercialmortgageMember2024-03-310000039263cfr:CommercialmortgageMember2023-12-310000039263us-gaap:ConstructionLoansMember2024-03-310000039263us-gaap:ConstructionLoansMember2023-12-310000039263cfr:CommerciallandloanMember2024-03-310000039263cfr:CommerciallandloanMember2023-12-310000039263us-gaap:CommercialRealEstatePortfolioSegmentMember2024-03-310000039263us-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000039263us-gaap:HomeEquityMember2024-03-310000039263us-gaap:HomeEquityMember2023-12-310000039263us-gaap:HomeEquityLoanMember2024-03-310000039263us-gaap:HomeEquityLoanMember2023-12-310000039263cfr:HomeImprovementLoansMember2024-03-310000039263cfr:HomeImprovementLoansMember2023-12-310000039263cfr:OtherconsumerrealestateloansMember2024-03-310000039263cfr:OtherconsumerrealestateloansMember2023-12-310000039263cfr:TotalconsumerrealestateloansMember2024-03-310000039263cfr:TotalconsumerrealestateloansMember2023-12-310000039263us-gaap:RealEstateLoanMember2024-03-310000039263us-gaap:RealEstateLoanMember2023-12-310000039263us-gaap:ConsumerLoanMember2024-03-310000039263us-gaap:ConsumerLoanMember2023-12-310000039263us-gaap:AutomobileLoanMember2024-03-310000039263us-gaap:CommitmentsToExtendCreditMemberus-gaap:AutomobileLoanMember2024-03-310000039263us-gaap:StandbyLettersOfCreditMemberus-gaap:AutomobileLoanMember2024-03-310000039263us-gaap:CommitmentsToExtendCreditMembercfr:CommercialandIndustrialTotalEnergyLoansMember2024-03-310000039263us-gaap:StandbyLettersOfCreditMembercfr:CommercialandIndustrialTotalEnergyLoansMember2024-03-310000039263us-gaap:LoansReceivableMember2024-03-310000039263us-gaap:LoansReceivableMember2023-12-310000039263cfr:CommercialRealEstateBuildingsLandAndOtherLoansMember2024-03-310000039263cfr:CommercialRealEstateBuildingsLandAndOtherLoansMember2023-12-310000039263us-gaap:CommercialPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2024-03-310000039263us-gaap:NonperformingFinancingReceivableMembercfr:CommercialandIndustrialTotalEnergyLoansMember2024-03-310000039263cfr:CommercialRealEstateBuildingsLandAndOtherLoansMemberus-gaap:NonperformingFinancingReceivableMember2024-03-310000039263us-gaap:NonperformingFinancingReceivableMemberus-gaap:ConstructionLoansMember2024-03-310000039263us-gaap:NonperformingFinancingReceivableMembercfr:TotalconsumerrealestateloansMember2024-03-310000039263us-gaap:NonperformingFinancingReceivableMemberus-gaap:ConsumerLoanMember2024-03-310000039263us-gaap:NonperformingFinancingReceivableMember2024-03-310000039263cfr:NonAccrualLoansMember2024-01-012024-03-310000039263cfr:NonAccrualLoansMember2023-01-012023-03-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:FinancingReceivables30to89DaysPastDueMember2024-03-310000039263us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2024-03-310000039263us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2024-03-310000039263us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2024-03-310000039263cfr:FinancingReceivables30to89DaysPastDueMembercfr:CommercialandIndustrialTotalEnergyLoansMember2024-03-310000039263us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembercfr:CommercialandIndustrialTotalEnergyLoansMember2024-03-310000039263us-gaap:FinancialAssetPastDueMembercfr:CommercialandIndustrialTotalEnergyLoansMember2024-03-310000039263cfr:CommercialandIndustrialTotalEnergyLoansMemberus-gaap:FinancialAssetNotPastDueMember2024-03-310000039263cfr:CommercialRealEstateBuildingsLandAndOtherLoansMembercfr:FinancingReceivables30to89DaysPastDueMember2024-03-310000039263us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembercfr:CommercialRealEstateBuildingsLandAndOtherLoansMember2024-03-310000039263cfr:CommercialRealEstateBuildingsLandAndOtherLoansMemberus-gaap:FinancialAssetPastDueMember2024-03-310000039263cfr:CommercialRealEstateBuildingsLandAndOtherLoansMemberus-gaap:FinancialAssetNotPastDueMember2024-03-310000039263cfr:FinancingReceivables30to89DaysPastDueMemberus-gaap:ConstructionLoansMember2024-03-310000039263us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConstructionLoansMember2024-03-310000039263us-gaap:FinancialAssetPastDueMemberus-gaap:ConstructionLoansMember2024-03-310000039263us-gaap:ConstructionLoansMemberus-gaap:FinancialAssetNotPastDueMember2024-03-310000039263cfr:TotalconsumerrealestateloansMembercfr:FinancingReceivables30to89DaysPastDueMember2024-03-310000039263us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembercfr:TotalconsumerrealestateloansMember2024-03-310000039263us-gaap:FinancialAssetPastDueMembercfr:TotalconsumerrealestateloansMember2024-03-310000039263cfr:TotalconsumerrealestateloansMemberus-gaap:FinancialAssetNotPastDueMember2024-03-310000039263cfr:FinancingReceivables30to89DaysPastDueMemberus-gaap:ConsumerLoanMember2024-03-310000039263us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerLoanMember2024-03-310000039263us-gaap:FinancialAssetPastDueMemberus-gaap:ConsumerLoanMember2024-03-310000039263us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetNotPastDueMember2024-03-310000039263cfr:FinancingReceivables30to89DaysPastDueMember2024-03-310000039263us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-03-310000039263us-gaap:FinancialAssetPastDueMember2024-03-310000039263us-gaap:FinancialAssetNotPastDueMember2024-03-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:CombinationPaymentDelayAndTermExtentionMember2024-03-310000039263us-gaap:CommercialPortfolioSegmentMemberus-gaap:AdditionalFundingAgreementTermsMember2024-03-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:CombinationPaymentDelayAndTermExtentionMember2023-03-310000039263us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMembercfr:CombinationPaymentDelayAndTermExtentionMember2024-03-310000039263us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMembercfr:CombinationPaymentDelayAndTermExtentionMember2023-03-310000039263us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembercfr:CommercialRealEstateBuildingsLandAndOtherLoansMembercfr:CombinationPaymentDelayAndTermExtentionMember2024-03-310000039263us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembercfr:CommercialRealEstateBuildingsLandAndOtherLoansMembercfr:CombinationPaymentDelayAndTermExtentionMember2023-03-310000039263us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembercfr:CombinationPaymentDelayAndTermExtentionMember2024-03-310000039263us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembercfr:CombinationPaymentDelayAndTermExtentionMember2023-03-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:RiskGradeOneToEightMember2024-03-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:RevolvingLoansConvertedtoTermMembercfr:RiskGradeOneToEightMember2024-03-31cfr:Grade0000039263us-gaap:CommercialPortfolioSegmentMembercfr:RiskGradeNineMember2024-03-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:RevolvingLoansConvertedtoTermMembercfr:RiskGradeNineMember2024-03-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:RiskGradeTenMember2024-03-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:RevolvingLoansConvertedtoTermMembercfr:RiskGradeTenMember2024-03-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:RiskGradeElevenMember2024-03-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:RiskGradeElevenMembercfr:RevolvingLoansConvertedtoTermMember2024-03-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:RiskGradeTwelveMember2024-03-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:RevolvingLoansConvertedtoTermMembercfr:RiskGradeTwelveMember2024-03-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:RiskGradeThirteenMember2024-03-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:RevolvingLoansConvertedtoTermMembercfr:RiskGradeThirteenMember2024-03-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:RevolvingLoansConvertedtoTermMember2024-03-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:A2024Member2024-03-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:A2023Member2024-03-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:A2022Member2024-03-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:A2021Member2024-03-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:A2020Member2024-03-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:PriorYearsMember2024-03-310000039263us-gaap:CommercialPortfolioSegmentMemberus-gaap:RevolvingCreditFacilityMember2024-03-310000039263cfr:CommercialandIndustrialTotalEnergyLoansMembercfr:RiskGradeOneToEightMember2024-03-310000039263cfr:RevolvingLoansConvertedtoTermMembercfr:CommercialandIndustrialTotalEnergyLoansMembercfr:RiskGradeOneToEightMember2024-03-310000039263cfr:CommercialandIndustrialTotalEnergyLoansMembercfr:RiskGradeNineMember2024-03-310000039263cfr:RevolvingLoansConvertedtoTermMembercfr:CommercialandIndustrialTotalEnergyLoansMembercfr:RiskGradeNineMember2024-03-310000039263cfr:CommercialandIndustrialTotalEnergyLoansMembercfr:RiskGradeTenMember2024-03-310000039263cfr:RevolvingLoansConvertedtoTermMembercfr:CommercialandIndustrialTotalEnergyLoansMembercfr:RiskGradeTenMember2024-03-310000039263cfr:RiskGradeElevenMembercfr:CommercialandIndustrialTotalEnergyLoansMember2024-03-310000039263cfr:RiskGradeElevenMembercfr:RevolvingLoansConvertedtoTermMembercfr:CommercialandIndustrialTotalEnergyLoansMember2024-03-310000039263cfr:CommercialandIndustrialTotalEnergyLoansMembercfr:RiskGradeTwelveMember2024-03-310000039263cfr:RevolvingLoansConvertedtoTermMembercfr:CommercialandIndustrialTotalEnergyLoansMembercfr:RiskGradeTwelveMember2024-03-310000039263cfr:CommercialandIndustrialTotalEnergyLoansMembercfr:RiskGradeThirteenMember2024-03-310000039263cfr:RevolvingLoansConvertedtoTermMembercfr:CommercialandIndustrialTotalEnergyLoansMembercfr:RiskGradeThirteenMember2024-03-310000039263cfr:RevolvingLoansConvertedtoTermMembercfr:CommercialandIndustrialTotalEnergyLoansMember2024-03-310000039263cfr:A2024Membercfr:CommercialandIndustrialTotalEnergyLoansMember2024-03-310000039263cfr:A2023Membercfr:CommercialandIndustrialTotalEnergyLoansMember2024-03-310000039263cfr:A2022Membercfr:CommercialandIndustrialTotalEnergyLoansMember2024-03-310000039263cfr:A2021Membercfr:CommercialandIndustrialTotalEnergyLoansMember2024-03-310000039263cfr:A2020Membercfr:CommercialandIndustrialTotalEnergyLoansMember2024-03-310000039263cfr:PriorYearsMembercfr:CommercialandIndustrialTotalEnergyLoansMember2024-03-310000039263cfr:CommercialandIndustrialTotalEnergyLoansMemberus-gaap:RevolvingCreditFacilityMember2024-03-310000039263cfr:CommercialRealEstateBuildingsLandAndOtherLoansMembercfr:RiskGradeOneToEightMember2024-03-310000039263cfr:CommercialRealEstateBuildingsLandAndOtherLoansMembercfr:RevolvingLoansConvertedtoTermMembercfr:RiskGradeOneToEightMember2024-03-310000039263cfr:CommercialRealEstateBuildingsLandAndOtherLoansMembercfr:RiskGradeNineMember2024-03-310000039263cfr:CommercialRealEstateBuildingsLandAndOtherLoansMembercfr:RevolvingLoansConvertedtoTermMembercfr:RiskGradeNineMember2024-03-310000039263cfr:CommercialRealEstateBuildingsLandAndOtherLoansMembercfr:RiskGradeTenMember2024-03-310000039263cfr:CommercialRealEstateBuildingsLandAndOtherLoansMembercfr:RevolvingLoansConvertedtoTermMembercfr:RiskGradeTenMember2024-03-310000039263cfr:CommercialRealEstateBuildingsLandAndOtherLoansMembercfr:RiskGradeElevenMember2024-03-310000039263cfr:CommercialRealEstateBuildingsLandAndOtherLoansMembercfr:RiskGradeElevenMembercfr:RevolvingLoansConvertedtoTermMember2024-03-310000039263cfr:CommercialRealEstateBuildingsLandAndOtherLoansMembercfr:RiskGradeTwelveMember2024-03-310000039263cfr:CommercialRealEstateBuildingsLandAndOtherLoansMembercfr:RevolvingLoansConvertedtoTermMembercfr:RiskGradeTwelveMember2024-03-310000039263cfr:CommercialRealEstateBuildingsLandAndOtherLoansMembercfr:RiskGradeThirteenMember2024-03-310000039263cfr:CommercialRealEstateBuildingsLandAndOtherLoansMembercfr:RevolvingLoansConvertedtoTermMembercfr:RiskGradeThirteenMember2024-03-310000039263cfr:CommercialRealEstateBuildingsLandAndOtherLoansMembercfr:RevolvingLoansConvertedtoTermMember2024-03-310000039263cfr:A2024Membercfr:CommercialRealEstateBuildingsLandAndOtherLoansMember2024-03-310000039263cfr:CommercialRealEstateBuildingsLandAndOtherLoansMembercfr:A2023Member2024-03-310000039263cfr:A2022Membercfr:CommercialRealEstateBuildingsLandAndOtherLoansMember2024-03-310000039263cfr:A2021Membercfr:CommercialRealEstateBuildingsLandAndOtherLoansMember2024-03-310000039263cfr:A2020Membercfr:CommercialRealEstateBuildingsLandAndOtherLoansMember2024-03-310000039263cfr:PriorYearsMembercfr:CommercialRealEstateBuildingsLandAndOtherLoansMember2024-03-310000039263cfr:CommercialRealEstateBuildingsLandAndOtherLoansMemberus-gaap:RevolvingCreditFacilityMember2024-03-310000039263us-gaap:ConstructionLoansMembercfr:RiskGradeOneToEightMember2024-03-310000039263cfr:RevolvingLoansConvertedtoTermMemberus-gaap:ConstructionLoansMembercfr:RiskGradeOneToEightMember2024-03-310000039263us-gaap:ConstructionLoansMembercfr:RiskGradeNineMember2024-03-310000039263cfr:RevolvingLoansConvertedtoTermMemberus-gaap:ConstructionLoansMembercfr:RiskGradeNineMember2024-03-310000039263cfr:RiskGradeTenMemberus-gaap:ConstructionLoansMember2024-03-310000039263cfr:RevolvingLoansConvertedtoTermMembercfr:RiskGradeTenMemberus-gaap:ConstructionLoansMember2024-03-310000039263cfr:RiskGradeElevenMemberus-gaap:ConstructionLoansMember2024-03-310000039263cfr:RiskGradeElevenMembercfr:RevolvingLoansConvertedtoTermMemberus-gaap:ConstructionLoansMember2024-03-310000039263us-gaap:ConstructionLoansMembercfr:RiskGradeTwelveMember2024-03-310000039263cfr:RevolvingLoansConvertedtoTermMemberus-gaap:ConstructionLoansMembercfr:RiskGradeTwelveMember2024-03-310000039263us-gaap:ConstructionLoansMembercfr:RiskGradeThirteenMember2024-03-310000039263cfr:RevolvingLoansConvertedtoTermMemberus-gaap:ConstructionLoansMembercfr:RiskGradeThirteenMember2024-03-310000039263cfr:RevolvingLoansConvertedtoTermMemberus-gaap:ConstructionLoansMember2024-03-310000039263cfr:A2024Memberus-gaap:ConstructionLoansMember2024-03-310000039263cfr:A2023Memberus-gaap:ConstructionLoansMember2024-03-310000039263cfr:A2022Memberus-gaap:ConstructionLoansMember2024-03-310000039263cfr:A2021Memberus-gaap:ConstructionLoansMember2024-03-310000039263cfr:A2020Memberus-gaap:ConstructionLoansMember2024-03-310000039263cfr:PriorYearsMemberus-gaap:ConstructionLoansMember2024-03-310000039263us-gaap:ConstructionLoansMemberus-gaap:RevolvingCreditFacilityMember2024-03-310000039263us-gaap:CommercialRealEstatePortfolioSegmentMembercfr:RevolvingLoansConvertedtoTermMember2024-03-310000039263us-gaap:CommercialRealEstatePortfolioSegmentMembercfr:A2024Member2024-03-310000039263us-gaap:CommercialRealEstatePortfolioSegmentMembercfr:A2023Member2024-03-310000039263us-gaap:CommercialRealEstatePortfolioSegmentMembercfr:A2022Member2024-03-310000039263us-gaap:CommercialRealEstatePortfolioSegmentMembercfr:A2021Member2024-03-310000039263us-gaap:CommercialRealEstatePortfolioSegmentMembercfr:A2020Member2024-03-310000039263us-gaap:CommercialRealEstatePortfolioSegmentMembercfr:PriorYearsMember2024-03-310000039263us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:RevolvingCreditFacilityMember2024-03-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:RiskGradeOneToEightMember2023-12-310000039263cfr:CommercialandIndustrialTotalEnergyLoansMembercfr:RiskGradeOneToEightMember2023-12-310000039263cfr:CommercialRealEstateBuildingsLandAndOtherLoansMembercfr:RiskGradeOneToEightMember2023-12-310000039263us-gaap:ConstructionLoansMembercfr:RiskGradeOneToEightMember2023-12-310000039263us-gaap:CommercialRealEstatePortfolioSegmentMembercfr:RiskGradeOneToEightMember2023-12-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:RiskGradeNineMember2023-12-310000039263cfr:CommercialandIndustrialTotalEnergyLoansMembercfr:RiskGradeNineMember2023-12-310000039263cfr:CommercialRealEstateBuildingsLandAndOtherLoansMembercfr:RiskGradeNineMember2023-12-310000039263us-gaap:ConstructionLoansMembercfr:RiskGradeNineMember2023-12-310000039263us-gaap:CommercialRealEstatePortfolioSegmentMembercfr:RiskGradeNineMember2023-12-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:RiskGradeTenMember2023-12-310000039263cfr:CommercialandIndustrialTotalEnergyLoansMembercfr:RiskGradeTenMember2023-12-310000039263cfr:CommercialRealEstateBuildingsLandAndOtherLoansMembercfr:RiskGradeTenMember2023-12-310000039263cfr:RiskGradeTenMemberus-gaap:ConstructionLoansMember2023-12-310000039263us-gaap:CommercialRealEstatePortfolioSegmentMembercfr:RiskGradeTenMember2023-12-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:RiskGradeElevenMember2023-12-310000039263cfr:RiskGradeElevenMembercfr:CommercialandIndustrialTotalEnergyLoansMember2023-12-310000039263cfr:CommercialRealEstateBuildingsLandAndOtherLoansMembercfr:RiskGradeElevenMember2023-12-310000039263cfr:RiskGradeElevenMemberus-gaap:ConstructionLoansMember2023-12-310000039263us-gaap:CommercialRealEstatePortfolioSegmentMembercfr:RiskGradeElevenMember2023-12-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:RiskGradeTwelveMember2023-12-310000039263cfr:CommercialandIndustrialTotalEnergyLoansMembercfr:RiskGradeTwelveMember2023-12-310000039263cfr:CommercialRealEstateBuildingsLandAndOtherLoansMembercfr:RiskGradeTwelveMember2023-12-310000039263us-gaap:ConstructionLoansMembercfr:RiskGradeTwelveMember2023-12-310000039263us-gaap:CommercialRealEstatePortfolioSegmentMembercfr:RiskGradeTwelveMember2023-12-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:RiskGradeThirteenMember2023-12-310000039263cfr:CommercialandIndustrialTotalEnergyLoansMembercfr:RiskGradeThirteenMember2023-12-310000039263cfr:CommercialRealEstateBuildingsLandAndOtherLoansMembercfr:RiskGradeThirteenMember2023-12-310000039263us-gaap:ConstructionLoansMembercfr:RiskGradeThirteenMember2023-12-310000039263us-gaap:CommercialRealEstatePortfolioSegmentMembercfr:RiskGradeThirteenMember2023-12-310000039263cfr:A2024Membercfr:FinancingReceivables30to89DaysPastDueMembercfr:TotalconsumerrealestateloansMember2024-03-310000039263cfr:A2023Membercfr:FinancingReceivables30to89DaysPastDueMembercfr:TotalconsumerrealestateloansMember2024-03-310000039263cfr:A2022Membercfr:FinancingReceivables30to89DaysPastDueMembercfr:TotalconsumerrealestateloansMember2024-03-310000039263cfr:A2021Membercfr:FinancingReceivables30to89DaysPastDueMembercfr:TotalconsumerrealestateloansMember2024-03-310000039263cfr:FinancingReceivables30to89DaysPastDueMembercfr:TotalconsumerrealestateloansMembercfr:A2020Member2024-03-310000039263cfr:FinancingReceivables30to89DaysPastDueMembercfr:TotalconsumerrealestateloansMembercfr:PriorYearsMember2024-03-310000039263cfr:FinancingReceivables30to89DaysPastDueMembercfr:TotalconsumerrealestateloansMemberus-gaap:RevolvingCreditFacilityMember2024-03-310000039263cfr:FinancingReceivables30to89DaysPastDueMembercfr:RevolvingLoansConvertedtoTermMembercfr:TotalconsumerrealestateloansMember2024-03-310000039263us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembercfr:A2024Membercfr:TotalconsumerrealestateloansMember2024-03-310000039263us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembercfr:A2023Membercfr:TotalconsumerrealestateloansMember2024-03-310000039263us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembercfr:A2022Membercfr:TotalconsumerrealestateloansMember2024-03-310000039263us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembercfr:A2021Membercfr:TotalconsumerrealestateloansMember2024-03-310000039263us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembercfr:TotalconsumerrealestateloansMembercfr:A2020Member2024-03-310000039263us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembercfr:TotalconsumerrealestateloansMembercfr:PriorYearsMember2024-03-310000039263us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembercfr:TotalconsumerrealestateloansMemberus-gaap:RevolvingCreditFacilityMember2024-03-310000039263us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembercfr:RevolvingLoansConvertedtoTermMembercfr:TotalconsumerrealestateloansMember2024-03-310000039263cfr:A2024Memberus-gaap:FinancialAssetPastDueMembercfr:TotalconsumerrealestateloansMember2024-03-310000039263cfr:A2023Memberus-gaap:FinancialAssetPastDueMembercfr:TotalconsumerrealestateloansMember2024-03-310000039263us-gaap:FinancialAssetPastDueMembercfr:A2022Membercfr:TotalconsumerrealestateloansMember2024-03-310000039263cfr:A2021Memberus-gaap:FinancialAssetPastDueMembercfr:TotalconsumerrealestateloansMember2024-03-310000039263us-gaap:FinancialAssetPastDueMembercfr:TotalconsumerrealestateloansMembercfr:A2020Member2024-03-310000039263us-gaap:FinancialAssetPastDueMembercfr:TotalconsumerrealestateloansMembercfr:PriorYearsMember2024-03-310000039263us-gaap:FinancialAssetPastDueMembercfr:TotalconsumerrealestateloansMemberus-gaap:RevolvingCreditFacilityMember2024-03-310000039263us-gaap:FinancialAssetPastDueMembercfr:RevolvingLoansConvertedtoTermMembercfr:TotalconsumerrealestateloansMember2024-03-310000039263cfr:A2024Membercfr:TotalconsumerrealestateloansMemberus-gaap:FinancialAssetNotPastDueMember2024-03-310000039263cfr:A2023Membercfr:TotalconsumerrealestateloansMemberus-gaap:FinancialAssetNotPastDueMember2024-03-310000039263cfr:A2022Membercfr:TotalconsumerrealestateloansMemberus-gaap:FinancialAssetNotPastDueMember2024-03-310000039263cfr:A2021Membercfr:TotalconsumerrealestateloansMemberus-gaap:FinancialAssetNotPastDueMember2024-03-310000039263cfr:TotalconsumerrealestateloansMembercfr:A2020Memberus-gaap:FinancialAssetNotPastDueMember2024-03-310000039263cfr:TotalconsumerrealestateloansMembercfr:PriorYearsMemberus-gaap:FinancialAssetNotPastDueMember2024-03-310000039263cfr:TotalconsumerrealestateloansMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:FinancialAssetNotPastDueMember2024-03-310000039263cfr:RevolvingLoansConvertedtoTermMembercfr:TotalconsumerrealestateloansMemberus-gaap:FinancialAssetNotPastDueMember2024-03-310000039263cfr:A2024Membercfr:TotalconsumerrealestateloansMember2024-03-310000039263cfr:A2023Membercfr:TotalconsumerrealestateloansMember2024-03-310000039263cfr:A2022Membercfr:TotalconsumerrealestateloansMember2024-03-310000039263cfr:A2021Membercfr:TotalconsumerrealestateloansMember2024-03-310000039263cfr:TotalconsumerrealestateloansMembercfr:A2020Member2024-03-310000039263cfr:TotalconsumerrealestateloansMembercfr:PriorYearsMember2024-03-310000039263cfr:TotalconsumerrealestateloansMemberus-gaap:RevolvingCreditFacilityMember2024-03-310000039263cfr:TotalconsumerrealestateloansMembercfr:RevolvingLoansConvertedtoTermMember2024-03-310000039263cfr:A2024Membercfr:FinancingReceivables30to89DaysPastDueMemberus-gaap:ConsumerLoanMember2024-03-310000039263cfr:A2023Membercfr:FinancingReceivables30to89DaysPastDueMemberus-gaap:ConsumerLoanMember2024-03-310000039263cfr:A2022Membercfr:FinancingReceivables30to89DaysPastDueMemberus-gaap:ConsumerLoanMember2024-03-310000039263cfr:A2021Membercfr:FinancingReceivables30to89DaysPastDueMemberus-gaap:ConsumerLoanMember2024-03-310000039263cfr:FinancingReceivables30to89DaysPastDueMembercfr:A2020Memberus-gaap:ConsumerLoanMember2024-03-310000039263cfr:FinancingReceivables30to89DaysPastDueMembercfr:PriorYearsMemberus-gaap:ConsumerLoanMember2024-03-310000039263cfr:FinancingReceivables30to89DaysPastDueMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:ConsumerLoanMember2024-03-310000039263cfr:FinancingReceivables30to89DaysPastDueMembercfr:RevolvingLoansConvertedtoTermMemberus-gaap:ConsumerLoanMember2024-03-310000039263us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembercfr:A2024Memberus-gaap:ConsumerLoanMember2024-03-310000039263us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembercfr:A2023Memberus-gaap:ConsumerLoanMember2024-03-310000039263us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembercfr:A2022Memberus-gaap:ConsumerLoanMember2024-03-310000039263us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembercfr:A2021Memberus-gaap:ConsumerLoanMember2024-03-310000039263us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembercfr:A2020Memberus-gaap:ConsumerLoanMember2024-03-310000039263us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembercfr:PriorYearsMemberus-gaap:ConsumerLoanMember2024-03-310000039263us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:ConsumerLoanMember2024-03-310000039263us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembercfr:RevolvingLoansConvertedtoTermMemberus-gaap:ConsumerLoanMember2024-03-310000039263cfr:A2024Memberus-gaap:FinancialAssetPastDueMemberus-gaap:ConsumerLoanMember2024-03-310000039263cfr:A2023Memberus-gaap:FinancialAssetPastDueMemberus-gaap:ConsumerLoanMember2024-03-310000039263us-gaap:FinancialAssetPastDueMembercfr:A2022Memberus-gaap:ConsumerLoanMember2024-03-310000039263cfr:A2021Memberus-gaap:FinancialAssetPastDueMemberus-gaap:ConsumerLoanMember2024-03-310000039263us-gaap:FinancialAssetPastDueMembercfr:A2020Memberus-gaap:ConsumerLoanMember2024-03-310000039263us-gaap:FinancialAssetPastDueMembercfr:PriorYearsMemberus-gaap:ConsumerLoanMember2024-03-310000039263us-gaap:FinancialAssetPastDueMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:ConsumerLoanMember2024-03-310000039263us-gaap:FinancialAssetPastDueMembercfr:RevolvingLoansConvertedtoTermMemberus-gaap:ConsumerLoanMember2024-03-310000039263cfr:A2024Memberus-gaap:FinancialAssetNotPastDueMemberus-gaap:ConsumerLoanMember2024-03-310000039263cfr:A2023Memberus-gaap:FinancialAssetNotPastDueMemberus-gaap:ConsumerLoanMember2024-03-310000039263cfr:A2022Memberus-gaap:FinancialAssetNotPastDueMemberus-gaap:ConsumerLoanMember2024-03-310000039263cfr:A2021Memberus-gaap:FinancialAssetNotPastDueMemberus-gaap:ConsumerLoanMember2024-03-310000039263cfr:A2020Memberus-gaap:FinancialAssetNotPastDueMemberus-gaap:ConsumerLoanMember2024-03-310000039263cfr:PriorYearsMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:ConsumerLoanMember2024-03-310000039263us-gaap:RevolvingCreditFacilityMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:ConsumerLoanMember2024-03-310000039263cfr:RevolvingLoansConvertedtoTermMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:ConsumerLoanMember2024-03-310000039263cfr:A2024Memberus-gaap:ConsumerLoanMember2024-03-310000039263cfr:A2023Memberus-gaap:ConsumerLoanMember2024-03-310000039263cfr:A2022Memberus-gaap:ConsumerLoanMember2024-03-310000039263cfr:A2021Memberus-gaap:ConsumerLoanMember2024-03-310000039263cfr:A2020Memberus-gaap:ConsumerLoanMember2024-03-310000039263cfr:PriorYearsMemberus-gaap:ConsumerLoanMember2024-03-310000039263us-gaap:RevolvingCreditFacilityMemberus-gaap:ConsumerLoanMember2024-03-310000039263cfr:RevolvingLoansConvertedtoTermMemberus-gaap:ConsumerLoanMember2024-03-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:RevolvingLoansConvertedtoTermMember2024-01-012024-03-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:RevolvingLoansConvertedtoTermMember2023-01-012023-03-310000039263cfr:RevolvingLoansConvertedtoTermMembercfr:CommercialandIndustrialTotalEnergyLoansMember2024-01-012024-03-310000039263cfr:RevolvingLoansConvertedtoTermMembercfr:CommercialandIndustrialTotalEnergyLoansMember2023-01-012023-03-310000039263cfr:CommercialRealEstateBuildingsLandAndOtherLoansMembercfr:RevolvingLoansConvertedtoTermMember2024-01-012024-03-310000039263cfr:CommercialRealEstateBuildingsLandAndOtherLoansMembercfr:RevolvingLoansConvertedtoTermMember2023-01-012023-03-310000039263cfr:RevolvingLoansConvertedtoTermMemberus-gaap:ConstructionLoansMember2024-01-012024-03-310000039263cfr:RevolvingLoansConvertedtoTermMemberus-gaap:ConstructionLoansMember2023-01-012023-03-310000039263cfr:TotalconsumerrealestateloansMembercfr:RevolvingLoansConvertedtoTermMember2024-01-012024-03-310000039263cfr:TotalconsumerrealestateloansMembercfr:RevolvingLoansConvertedtoTermMember2023-01-012023-03-310000039263cfr:RevolvingLoansConvertedtoTermMemberus-gaap:ConsumerLoanMember2024-01-012024-03-310000039263cfr:RevolvingLoansConvertedtoTermMemberus-gaap:ConsumerLoanMember2023-01-012023-03-310000039263cfr:RevolvingLoansConvertedtoTermMember2024-01-012024-03-310000039263cfr:RevolvingLoansConvertedtoTermMember2023-01-012023-03-310000039263cfr:CommercialmortgageMember2024-01-012024-03-310000039263us-gaap:ConsumerLoanMember2024-01-012024-03-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:ModeledExpectedCreditLossesMember2024-03-310000039263cfr:CommercialandIndustrialTotalEnergyLoansMembercfr:ModeledExpectedCreditLossesMember2024-03-310000039263us-gaap:CommercialRealEstatePortfolioSegmentMembercfr:ModeledExpectedCreditLossesMember2024-03-310000039263cfr:TotalconsumerrealestateloansMembercfr:ModeledExpectedCreditLossesMember2024-03-310000039263cfr:ModeledExpectedCreditLossesMemberus-gaap:ConsumerLoanMember2024-03-310000039263cfr:ModeledExpectedCreditLossesMember2024-03-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:QfactoradjustmentsMember2024-03-310000039263cfr:CommercialandIndustrialTotalEnergyLoansMembercfr:QfactoradjustmentsMember2024-03-310000039263us-gaap:CommercialRealEstatePortfolioSegmentMembercfr:QfactoradjustmentsMember2024-03-310000039263cfr:TotalconsumerrealestateloansMembercfr:QfactoradjustmentsMember2024-03-310000039263cfr:QfactoradjustmentsMemberus-gaap:ConsumerLoanMember2024-03-310000039263cfr:QfactoradjustmentsMember2024-03-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:SpecificValuationAllowancesMember2024-03-310000039263cfr:SpecificValuationAllowancesMembercfr:CommercialandIndustrialTotalEnergyLoansMember2024-03-310000039263cfr:SpecificValuationAllowancesMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-03-310000039263cfr:SpecificValuationAllowancesMembercfr:TotalconsumerrealestateloansMember2024-03-310000039263cfr:SpecificValuationAllowancesMemberus-gaap:ConsumerLoanMember2024-03-310000039263cfr:SpecificValuationAllowancesMember2024-03-310000039263us-gaap:LoansReceivableMember2024-03-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:ModeledExpectedCreditLossesMember2023-12-310000039263cfr:CommercialandIndustrialTotalEnergyLoansMembercfr:ModeledExpectedCreditLossesMember2023-12-310000039263us-gaap:CommercialRealEstatePortfolioSegmentMembercfr:ModeledExpectedCreditLossesMember2023-12-310000039263cfr:TotalconsumerrealestateloansMembercfr:ModeledExpectedCreditLossesMember2023-12-310000039263cfr:ModeledExpectedCreditLossesMemberus-gaap:ConsumerLoanMember2023-12-310000039263cfr:ModeledExpectedCreditLossesMember2023-12-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:QfactoradjustmentsMember2023-12-310000039263cfr:CommercialandIndustrialTotalEnergyLoansMembercfr:QfactoradjustmentsMember2023-12-310000039263us-gaap:CommercialRealEstatePortfolioSegmentMembercfr:QfactoradjustmentsMember2023-12-310000039263cfr:TotalconsumerrealestateloansMembercfr:QfactoradjustmentsMember2023-12-310000039263cfr:QfactoradjustmentsMemberus-gaap:ConsumerLoanMember2023-12-310000039263cfr:QfactoradjustmentsMember2023-12-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:SpecificValuationAllowancesMember2023-12-310000039263cfr:SpecificValuationAllowancesMembercfr:CommercialandIndustrialTotalEnergyLoansMember2023-12-310000039263cfr:SpecificValuationAllowancesMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000039263cfr:SpecificValuationAllowancesMembercfr:TotalconsumerrealestateloansMember2023-12-310000039263cfr:SpecificValuationAllowancesMemberus-gaap:ConsumerLoanMember2023-12-310000039263cfr:SpecificValuationAllowancesMember2023-12-310000039263us-gaap:LoansReceivableMember2023-12-310000039263us-gaap:CommercialPortfolioSegmentMember2024-01-012024-03-310000039263cfr:CommercialandIndustrialTotalEnergyLoansMember2024-01-012024-03-310000039263us-gaap:CommercialRealEstatePortfolioSegmentMember2024-01-012024-03-310000039263cfr:TotalconsumerrealestateloansMember2024-01-012024-03-310000039263us-gaap:LoansReceivableMember2024-01-012024-03-310000039263us-gaap:CommercialPortfolioSegmentMember2022-12-310000039263cfr:CommercialandIndustrialTotalEnergyLoansMember2022-12-310000039263us-gaap:CommercialRealEstatePortfolioSegmentMember2022-12-310000039263cfr:TotalconsumerrealestateloansMember2022-12-310000039263us-gaap:ConsumerLoanMember2022-12-310000039263us-gaap:LoansReceivableMember2022-12-310000039263us-gaap:CommercialPortfolioSegmentMember2023-01-012023-03-310000039263cfr:CommercialandIndustrialTotalEnergyLoansMember2023-01-012023-03-310000039263us-gaap:CommercialRealEstatePortfolioSegmentMember2023-01-012023-03-310000039263cfr:TotalconsumerrealestateloansMember2023-01-012023-03-310000039263us-gaap:ConsumerLoanMember2023-01-012023-03-310000039263us-gaap:LoansReceivableMember2023-01-012023-03-310000039263us-gaap:CommercialPortfolioSegmentMember2023-03-310000039263cfr:CommercialandIndustrialTotalEnergyLoansMember2023-03-310000039263us-gaap:CommercialRealEstatePortfolioSegmentMember2023-03-310000039263cfr:TotalconsumerrealestateloansMember2023-03-310000039263us-gaap:ConsumerLoanMember2023-03-310000039263us-gaap:LoansReceivableMember2023-03-310000039263us-gaap:CommercialPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2024-03-310000039263us-gaap:NonperformingFinancingReceivableMembercfr:CommercialandIndustrialTotalEnergyLoansMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2024-03-310000039263cfr:CommercialRealEstateBuildingsLandAndOtherLoansMemberus-gaap:NonperformingFinancingReceivableMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2024-03-310000039263cfr:CommercialRealEstateBuildingsLandAndOtherLoansMember2024-01-012024-03-310000039263us-gaap:NonperformingFinancingReceivableMemberus-gaap:ConstructionLoansMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2024-03-310000039263us-gaap:ConstructionLoansMember2024-01-012024-03-310000039263us-gaap:NonperformingFinancingReceivableMembercfr:TotalconsumerrealestateloansMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2024-03-310000039263us-gaap:NonperformingFinancingReceivableMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:ConsumerLoanMember2024-03-310000039263us-gaap:NonperformingFinancingReceivableMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2024-03-310000039263us-gaap:BankOverdraftsMemberus-gaap:NonperformingFinancingReceivableMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2024-03-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:LoansIndividuallyEvaluatedForImpairmentMember2024-03-310000039263us-gaap:CommercialPortfolioSegmentMembercfr:LoansIndividuallyEvaluatedForImpairmentMember2023-12-310000039263cfr:LoansIndividuallyEvaluatedForImpairmentMembercfr:CommercialandIndustrialTotalEnergyLoansMember2024-03-310000039263cfr:LoansIndividuallyEvaluatedForImpairmentMembercfr:CommercialandIndustrialTotalEnergyLoansMember2023-12-310000039263cfr:LoansIndividuallyEvaluatedForImpairmentMembercfr:CommercialRealEstateBuildingsLandAndOtherLoansMember2024-03-310000039263cfr:SpecificValuationAllowancesMembercfr:CommercialRealEstateBuildingsLandAndOtherLoansMember2024-03-310000039263cfr:LoansIndividuallyEvaluatedForImpairmentMembercfr:CommercialRealEstateBuildingsLandAndOtherLoansMember2023-12-310000039263cfr:SpecificValuationAllowancesMembercfr:CommercialRealEstateBuildingsLandAndOtherLoansMember2023-12-310000039263cfr:LoansIndividuallyEvaluatedForImpairmentMemberus-gaap:ConstructionLoansMember2024-03-310000039263cfr:SpecificValuationAllowancesMemberus-gaap:ConstructionLoansMember2024-03-310000039263cfr:LoansIndividuallyEvaluatedForImpairmentMemberus-gaap:ConstructionLoansMember2023-12-310000039263cfr:SpecificValuationAllowancesMemberus-gaap:ConstructionLoansMember2023-12-310000039263cfr:LoansIndividuallyEvaluatedForImpairmentMembercfr:TotalconsumerrealestateloansMember2024-03-310000039263cfr:LoansIndividuallyEvaluatedForImpairmentMembercfr:TotalconsumerrealestateloansMember2023-12-310000039263cfr:LoansIndividuallyEvaluatedForImpairmentMemberus-gaap:ConsumerLoanMember2024-03-310000039263cfr:LoansIndividuallyEvaluatedForImpairmentMemberus-gaap:ConsumerLoanMember2023-12-310000039263cfr:LoansIndividuallyEvaluatedForImpairmentMember2024-03-310000039263cfr:LoansIndividuallyEvaluatedForImpairmentMember2023-12-310000039263cfr:PublicFundsMember2024-03-310000039263cfr:PublicFundsMember2023-12-310000039263us-gaap:CommitmentsToExtendCreditMember2024-03-310000039263us-gaap:CommitmentsToExtendCreditMember2023-12-310000039263us-gaap:StandbyLettersOfCreditMember2024-03-310000039263us-gaap:StandbyLettersOfCreditMember2023-12-310000039263cfr:DeferredStandbyLetterOfCreditFeesMember2024-03-310000039263cfr:DeferredStandbyLetterOfCreditFeesMember2023-12-310000039263us-gaap:PropertyPlantAndEquipmentMember2024-03-310000039263us-gaap:PropertyPlantAndEquipmentMember2023-12-310000039263us-gaap:OtherLiabilitiesMember2024-03-310000039263us-gaap:OtherLiabilitiesMember2023-12-310000039263cfr:CullenFrostMember2023-12-310000039263cfr:CullenFrostMember2024-03-310000039263cfr:CullenFrostMember2023-01-012023-12-310000039263cfr:CullenFrostMember2024-01-012024-03-310000039263cfr:FrostBankMember2024-03-310000039263cfr:FrostBankMember2023-12-310000039263us-gaap:SubordinatedDebtMember2023-01-012023-12-310000039263us-gaap:SubordinatedDebtMember2024-01-012024-03-310000039263cfr:CullenFrostMemberus-gaap:SubordinatedDebtMember2024-03-310000039263cfr:CullenFrostMemberus-gaap:SubordinatedDebtMember2023-12-310000039263cfr:CullenFrostMembercfr:TrustPreferredSecuritiesTierTwoCapitalAllowablePortionMember2023-01-012023-12-310000039263cfr:CullenFrostMembercfr:TrustPreferredSecuritiesTierTwoCapitalAllowablePortionMember2024-01-012024-03-31utr:Rate0000039263cfr:SeriesBPreferredStockEquivalentDepositarySharesMemberMember2024-03-310000039263us-gaap:SeriesBPreferredStockMember2020-11-192020-11-190000039263cfr:StockRepurchase2024PlanMember2024-01-240000039263cfr:StockRepurchase2024PlanMember2024-01-242024-01-240000039263us-gaap:TreasuryStockCommonMembercfr:PriorStockRepurchasePlansMember2024-01-012024-03-310000039263cfr:StockRepurchase2024PlanMemberus-gaap:TreasuryStockCommonMember2024-01-012024-03-31cfr:quarter0000039263cfr:FinancialInstitutionCounterpartiesLoanLeaseInterestRateSwapsLiabilitiesMemberus-gaap:NondesignatedMember2024-03-310000039263cfr:FinancialInstitutionCounterpartiesLoanLeaseInterestRateSwapsLiabilitiesMemberus-gaap:NondesignatedMember2023-12-310000039263cfr:FinancialInstitutionCounterpartiesLoanLeaseInterestRateSwapsAssetsMemberus-gaap:NondesignatedMember2024-03-310000039263cfr:FinancialInstitutionCounterpartiesLoanLeaseInterestRateSwapsAssetsMemberus-gaap:NondesignatedMember2023-12-310000039263cfr:FinancialInstitutionCounterpartiesLoanLeaseInterestRateCapsAssetsMemberus-gaap:NondesignatedMember2024-03-310000039263cfr:FinancialInstitutionCounterpartiesLoanLeaseInterestRateCapsAssetsMemberus-gaap:NondesignatedMember2023-12-310000039263cfr:CustomerCounterpartiesLoanLeaseInterestRateSwapsAssetsMemberus-gaap:NondesignatedMember2024-03-310000039263cfr:CustomerCounterpartiesLoanLeaseInterestRateSwapsAssetsMemberus-gaap:NondesignatedMember2023-12-310000039263us-gaap:NondesignatedMembercfr:CustomerCounterpartiesLoanLeaseInterestRateSwapsLiabilitiesMember2024-03-310000039263us-gaap:NondesignatedMembercfr:CustomerCounterpartiesLoanLeaseInterestRateSwapsLiabilitiesMember2023-12-310000039263cfr:CustomerCounterpartiesLoanLeaseInterestRateCapsLiabilitiesMemberus-gaap:NondesignatedMember2024-03-310000039263cfr:CustomerCounterpartiesLoanLeaseInterestRateCapsLiabilitiesMemberus-gaap:NondesignatedMember2023-12-310000039263cfr:FinancialInstitutionCounterpartiesMembercfr:WeightedAverageInterestRatePaidMember2024-03-310000039263cfr:WeightedAverageInterestRateReceivedMembercfr:FinancialInstitutionCounterpartiesMember2024-03-310000039263cfr:CustomerCounterpartiesMembercfr:WeightedAverageInterestRatePaidMember2024-03-310000039263cfr:CustomerCounterpartiesMembercfr:WeightedAverageInterestRateReceivedMember2024-03-310000039263cfr:OilCommodityDerivativeMembercfr:FinancialInstitutionCounterpartiesMember2024-03-31utr:bbl0000039263cfr:OilCommodityDerivativeMembercfr:FinancialInstitutionCounterpartiesMember2023-12-310000039263cfr:FinancialInstitutionCounterpartiesMembercfr:NaturalGasCommodityDerivativeMember2024-03-31utr:MMBTU0000039263cfr:FinancialInstitutionCounterpartiesMembercfr:NaturalGasCommodityDerivativeMember2023-12-310000039263cfr:CustomerCounterpartiesMembercfr:OilCommodityDerivativeMember2024-03-310000039263cfr:CustomerCounterpartiesMembercfr:OilCommodityDerivativeMember2023-12-310000039263cfr:CustomerCounterpartiesMembercfr:NaturalGasCommodityDerivativeMember2024-03-310000039263cfr:CustomerCounterpartiesMembercfr:NaturalGasCommodityDerivativeMember2023-12-310000039263cfr:FinancialInstitutionCounterpartiesMemberus-gaap:NondesignatedMemberus-gaap:OtherAssetsMember2024-03-31iso4217:CAD0000039263cfr:FinancialInstitutionCounterpartiesMemberus-gaap:ForeignExchangeForwardMember2024-03-310000039263cfr:FinancialInstitutionCounterpartiesMemberus-gaap:NondesignatedMemberus-gaap:OtherAssetsMember2023-12-310000039263cfr:FinancialInstitutionCounterpartiesMemberus-gaap:ForeignExchangeForwardMember2023-12-310000039263cfr:FinancialInstitutionCounterpartiesMemberus-gaap:OtherLiabilitiesMemberus-gaap:NondesignatedMember2024-03-31iso4217:EUR0000039263cfr:FinancialInstitutionCounterpartiesMembercfr:GBPForeignExchangeForwardMember2024-03-310000039263cfr:FinancialInstitutionCounterpartiesMemberus-gaap:OtherLiabilitiesMemberus-gaap:NondesignatedMember2023-12-310000039263cfr:FinancialInstitutionCounterpartiesMembercfr:GBPForeignExchangeForwardMember2023-12-310000039263cfr:CustomerCounterpartiesMemberus-gaap:NondesignatedMemberus-gaap:OtherAssetsMember2024-03-310000039263cfr:CustomerCounterpartiesMembercfr:GBPForeignExchangeForwardMember2024-03-310000039263cfr:CustomerCounterpartiesMemberus-gaap:NondesignatedMemberus-gaap:OtherAssetsMember2023-12-310000039263cfr:CustomerCounterpartiesMembercfr:GBPForeignExchangeForwardMember2023-12-310000039263cfr:CustomerCounterpartiesMemberus-gaap:ForeignExchangeForwardMember2024-03-310000039263cfr:CustomerCounterpartiesMemberus-gaap:ForeignExchangeForwardMember2023-12-310000039263cfr:CustomerCounterpartiesMemberus-gaap:OtherLiabilitiesMemberus-gaap:NondesignatedMember2024-03-310000039263cfr:CustomerCounterpartiesMemberus-gaap:OtherLiabilitiesMemberus-gaap:NondesignatedMember2023-12-310000039263us-gaap:InterestIncomeMembercfr:CommercialLoanLeaseInterestRateSwapsMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-01-012024-03-310000039263us-gaap:InterestIncomeMembercfr:CommercialLoanLeaseInterestRateSwapsMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-01-012023-03-310000039263us-gaap:OtherIncomeMemberus-gaap:InterestRateContractMemberus-gaap:NondesignatedMember2024-01-012024-03-310000039263us-gaap:OtherIncomeMemberus-gaap:InterestRateContractMemberus-gaap:NondesignatedMember2023-01-012023-03-310000039263us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:OtherExpenseMember2024-01-012024-03-310000039263us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:OtherExpenseMember2023-01-012023-03-310000039263us-gaap:CommodityContractMemberus-gaap:NondesignatedMember2024-01-012024-03-310000039263us-gaap:CommodityContractMemberus-gaap:NondesignatedMember2023-01-012023-03-310000039263us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2024-01-012024-03-310000039263us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2023-01-012023-03-310000039263cfr:InterestRateSwapsWithUpstreamFinancialInstitutionCounterpartiesMember2024-03-310000039263cfr:InterestRateContractsMember2024-03-310000039263cfr:CommoditySwapsAndOptionsMember2024-03-310000039263cfr:CounterpartyHMember2024-03-310000039263cfr:CounterpartyFMember2024-03-310000039263cfr:CounterpartyBMember2024-03-310000039263cfr:CounterpartyEMember2024-03-310000039263cfr:OtherCounterpartiesMember2024-03-3100000392632023-01-012023-12-310000039263cfr:InterestRateContractsMember2023-12-310000039263cfr:CommoditySwapsAndOptionsMember2023-12-310000039263cfr:ForeignCurrencyForwardContractsMember2023-12-310000039263cfr:CounterpartyHMember2023-12-310000039263cfr:CounterpartyFMember2023-12-310000039263cfr:CounterpartyBMember2023-12-310000039263cfr:CounterpartyEMember2023-12-310000039263cfr:OtherCounterpartiesMember2023-12-310000039263us-gaap:PerformanceSharesMember2024-03-310000039263cfr:DeferredStockUnitsOutstandingMember2023-12-310000039263cfr:NonVestedStockAwardsOutstandingMember2023-12-310000039263srt:MaximumMemberus-gaap:PerformanceSharesMember2023-12-310000039263us-gaap:EmployeeStockOptionMember2023-12-310000039263cfr:NonVestedStockAwardsOutstandingMember2024-01-012024-03-310000039263srt:MaximumMemberus-gaap:PerformanceSharesMember2024-01-012024-03-310000039263us-gaap:EmployeeStockOptionMember2024-01-012024-03-310000039263cfr:DeferredStockUnitsOutstandingMember2024-03-310000039263cfr:NonVestedStockAwardsOutstandingMember2024-03-310000039263srt:MaximumMemberus-gaap:PerformanceSharesMember2024-03-310000039263us-gaap:EmployeeStockOptionMember2024-03-310000039263cfr:NonVestedStockAwardsOutstandingMember2023-01-012023-03-310000039263us-gaap:PerformanceSharesMember2024-01-012024-03-310000039263us-gaap:PerformanceSharesMember2023-01-012023-03-310000039263us-gaap:AvailableforsaleSecuritiesMember2023-12-310000039263us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-12-310000039263us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-12-310000039263us-gaap:AvailableforsaleSecuritiesMember2024-01-012024-03-310000039263us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-01-012024-03-310000039263us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-03-310000039263us-gaap:AvailableforsaleSecuritiesMember2024-03-310000039263us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-03-310000039263us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-03-310000039263us-gaap:AvailableforsaleSecuritiesMember2022-12-310000039263us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-12-310000039263us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310000039263us-gaap:AvailableforsaleSecuritiesMember2023-01-012023-03-310000039263us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-01-012023-03-310000039263us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-03-310000039263us-gaap:AvailableforsaleSecuritiesMember2023-03-310000039263us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-03-310000039263us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-03-31cfr:Segment0000039263cfr:BankMember2024-01-012024-03-310000039263cfr:FrostWealthAdvisorsMember2024-01-012024-03-310000039263cfr:NonBanksMember2024-01-012024-03-310000039263cfr:BankMember2023-01-012023-03-310000039263cfr:FrostWealthAdvisorsMember2023-01-012023-03-310000039263cfr:NonBanksMember2023-01-012023-03-310000039263us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueInputsLevel1Member2024-03-310000039263us-gaap:USTreasurySecuritiesMember2024-03-310000039263us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Member2024-03-310000039263us-gaap:ResidentialMortgageBackedSecuritiesMember2024-03-310000039263us-gaap:FairValueInputsLevel2Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-03-310000039263us-gaap:USStatesAndPoliticalSubdivisionsMember2024-03-310000039263us-gaap:FairValueInputsLevel2Memberus-gaap:OtherInvestmentsMember2024-03-310000039263us-gaap:OtherInvestmentsMember2024-03-310000039263us-gaap:FairValueInputsLevel2Membercfr:InterestRateSwapsCapsAndFloorsMember2024-03-310000039263cfr:InterestRateSwapsCapsAndFloorsMember2024-03-310000039263us-gaap:FairValueInputsLevel2Membercfr:CommoditySwapsAndOptionsMember2024-03-310000039263cfr:CommoditySwapsAndOptionsMember2024-03-310000039263us-gaap:ForeignExchangeForwardMemberus-gaap:FairValueInputsLevel1Member2024-03-310000039263us-gaap:ForeignExchangeForwardMember2024-03-310000039263us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueInputsLevel1Member2023-12-310000039263us-gaap:USTreasurySecuritiesMember2023-12-310000039263us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Member2023-12-310000039263us-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310000039263us-gaap:FairValueInputsLevel2Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000039263us-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000039263us-gaap:FairValueInputsLevel2Memberus-gaap:OtherInvestmentsMember2023-12-310000039263us-gaap:OtherInvestmentsMember2023-12-310000039263us-gaap:FairValueInputsLevel2Membercfr:InterestRateSwapsCapsAndFloorsMember2023-12-310000039263cfr:InterestRateSwapsCapsAndFloorsMember2023-12-310000039263us-gaap:FairValueInputsLevel2Membercfr:CommoditySwapsAndOptionsMember2023-12-310000039263cfr:CommoditySwapsAndOptionsMember2023-12-310000039263us-gaap:ForeignExchangeForwardMemberus-gaap:FairValueInputsLevel1Member2023-12-310000039263us-gaap:ForeignExchangeForwardMember2023-12-310000039263us-gaap:FairValueInputsLevel2Member2024-03-310000039263us-gaap:FairValueInputsLevel3Member2024-03-310000039263us-gaap:FairValueInputsLevel2Member2023-03-310000039263us-gaap:FairValueInputsLevel3Member2023-03-310000039263us-gaap:FairValueInputsLevel2Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2024-03-310000039263us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-03-310000039263us-gaap:FairValueInputsLevel2Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310000039263us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000039263us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Member2024-03-310000039263us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-03-310000039263us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Member2023-12-310000039263us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-31

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

For the quarterly period ended: March 31, 2024

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

Commission file number: 001-13221

(Exact name of registrant as specified in its charter)

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.

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 April 18, 2024, there were 64,254,270 shares of the registrant’s Common Stock, $.01 par value, outstanding.

See accompanying Notes to Consolidated Financial Statements

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

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, 2023, included in our Annual Report on Form 10-K filed with the SEC on February 6, 2024 (the “2023 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:

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

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 March 31, 2024 and December 31, 2023 is presented below.