Frost Bank

Frost Converts to State Charter

Commissioner
Charles Cooper announced last week that Frost Bank has completed
the conversion process and is now a state-chartered bank.

"Frost is the only one of the ten largest Texas-based banks to survive the
1980's crisis without merging or closing, and their commitment to Texas is
clear," said Chris Williston, President and CEO of IBAT. "We
appreciate the long-term partnership between IBAT and Frost, and their
commitment to community banking. This charter conversion is a strong
signal that they intend to remain a Texas-based force in the financial services
industry in our state for years to come."

Formed in 1974, the Independent Bankers Association of Texas (IBAT) represents Texas community banks. The Austin-based group is the largest state community banking organization in the nation, with membership comprised of more than 2,000 banks and branches in 700 Texas communities. Providing safe and responsible financial services to all Texans, IBAT member bank assets range in size from $10 million to $20 billion with combined assets statewide of nearly $165 billion. IBAT member banks are committed to supporting and investing in their local communities.

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Frost Bank