Original filing (PDF)20251002072347NAL0000269472001

CULLEN/FROST BANKERS, INC.

Name: CULLEN/FROST BANKERS, INC. — RETIREMENT PLAN FOR EMPLOYEES OF CULLEN/FROST BANKERS, INC. & ITS AFFILIATES, Form 5500 (2024)
Creator: CULLEN/FROST BANKERS, INC.

Form 5500

FILING_RECEIVED

RETIREMENT PLAN FOR EMPLOYEES OF CULLEN/FROST BANKERS, INC. & ITS AFFILIATES

Defined-benefit pension plan

Signals · 2

28% employer stockNo recordkeeper disclosed

Active participants

480

Accounts w/ balance

—

Plan assets (EOY)

$169.7M

Net assets (EOY)

$169.6M

How this plan invests

This plan

160 securities

funds · stocks · CUSIPs

Holdings are itemized directly on this plan's Schedule of Assets, below.

Plan health score

/ 100

Grade C

Average plan with room to improve

Directional indicator from public Form 5500 data — compliance & integrity, total plan cost, participant health and vendor stack, benchmarked against same-size peers. Not a fiduciary tool. Based on 80% of scoring inputs for this filing.

Compliance & integrity

100

Total plan cost

Plan health

n/a

Vendor & structure

Decision-maker contacts

CFO / Head of HR / Benefits Manager — verified email + LinkedIn for CULLEN/FROST BANKERS, INC..

Plan sponsor

Name

CULLEN/FROST BANKERS, INC.

EIN

74-1751768

Address

P.O. BOX 1600 · 111 WEST HOUSTON STREET · SAN ANTONIO, TX · 78205

Phone

(210) 220-4011

Industry

Commercial Banking· Finance & Insurancesee all

Plan administrator

Name

COMPENSATION AND BENEFITS COMMITTEE OF CULLEN/FROST BANKERS, INC.

EIN

74-1879687

City

SAN ANTONIO, TX

Phone

(210) 220-4011

Plan characteristics

Plan number

002

Plan year

2024

Plan year begin

2024-01-01

Tax period

2024-12-31

Filed

2025-10-02

Pension benefit codes

1A · Pay-related DB formula

1I · Frozen plan — no new benefit accrual

3H · Sponsor in controlled / affiliated group

Audit & trust (Schedule H)

Auditor

ERNST & YOUNG LLP

Trustee / custodian

—

Trustee phone

—

Service providers (Schedule C)

3 rows

Accountant / Auditor

Name	EIN	Location	Relation	Direct comp	Indirect comp
ERNST & YOUNG LLP	34-6565596	—	NONE	$45K	—

Other service providers

Name	EIN	Location	Relation	Direct comp	Indirect comp
FROST BANK	74-0635455	—	PLAN SPONSOR	$518K	—
AON CONSULTING	22-2232264	—	NONE

Investments

160 direct securities· $158.3M(93% of reported assets)

Other securities

$94.1M

62 holdings

Common Stock

$45.2M

87 holdings

U.S. Treasuries

$13.4M

5 holdings

Agency / Mortgage-Backed

$4.7M

4 holdings

Corporate Bonds

$831K

1 holding

Common Stocks

$105K

1 holding

					% of plan
MFS Value Fund Cl R6 284,772 shares	Other securities	—	$12.0M	$13.8M	8.1%
Artisan High Income Fd Instl 596,044 shares	Other securities	—	$5.4M	$5.4M	3.2%
U S Treasury Bonds $5,000,000 principal amount,	U.S. Treasuries	—	$4.0M	$4.2M	2.5%
Hartford World Bond Fd Instl 355,875 shares	Other securities	—	$3.6M	$3.6M	2.1%
U S Treasury Bonds $5,000,000 principal amount,	U.S. Treasuries	—	$2.8M	$3.1M	1.8%
iShares MSCI Emerging Mkts ex-China ETF 51,837 shares	Other securities	—	$3.0M	$2.9M	1.7%
Ishares Msci Eafe ETF 35,948 shares	Other securities	—	$2.4M	$2.7M	1.6%
Texas St Tax $3,000,000 principal amount,	Other securities	—	$2.5M	$2.7M	1.6%
due 11/15/37 U S Treasury Strips $5,000,000 principal amount,	Other securities	—	$2.4M	$2.6M	1.6%
U S Treasury Bonds $4,000,000 principal amount,	U.S. Treasuries	—	$2.4M	$2.6M	1.5%
JHancock Disciplined Value Mid Cap Instl 88,697 shares	Other securities	—	$2.1M	$2.4M	1.4%
Resolution Fdg Corp Strips $3,000,000 principal amount,	Common Stock	—	$2.1M	$2.3M	1.4%
T Rowe Price Midcap Growth Fd Instl 23,327 shares	Other securities	—	$2.5M	$2.3M	1.4%
U S Treasury Strips $4,000,000 principal amount,	Other securities	—	$1.9M	$2.1M	1.3%
due 2/15/38 U S Treasury Strips $4,000,000 principal amount,	Other securities	—	$1.9M	$2.1M	1.2%
Party Collateral, Par or Maturity Date Cost Current Value U.S. Treasury securities U S Treasury Bonds $2,000,000 principal amount,	U.S. Treasuries	—	$1.8M	$1.9M	1.1%
William Marsh Rice Univ $2,960,000 principal amount,	Other securities	—	$1.8M	$1.9M	1.1%
Microsoft Corp 4,063 shares	Common Stock	—	$1.3M	$1.7M	1.0%
Henderson Nev A-1 Tax $1,620,000 principal amount,	Other securities	—	$1.6M	$1.7M	1.0%
FHLMC Discount Notes $3,000,000 principal amount,	Agency / Mortgage-Backed	—	$1.5M	$1.6M	1.0%
Nvidia Corp 11,810 shares	Common Stock	—	$498K	$1.6M	0.9%
U.S. government agency securities Federal Farm Cr Bks $2,300,000 principal amount,	Other securities	—	$1.5M	$1.6M	0.9%
Bank Amer NA $1,500,000 principal amount,	Other securities	—	$1.5M	$1.5M	0.9%
U S Treasury Bonds $2,000,000 principal amount,	U.S. Treasuries	—	$1.6M	$1.5M	0.9%
Massachusetts St Tax $2,155,000 principal amount,	Other securities	—	$1.4M	$1.5M	0.9%
T Rowe Price Intl Disc Fd Instl 22,460 shares	Other securities	—	$1.5M	$1.4M	0.8%
Party Collateral, Par or Maturity Date Cost Current Value Dallas Tex B Tax $2,000,000 principal amount,	Other securities	—	$1.3M	$1.4M	0.8%
New York NY A Tax $1,500,000 principal amount,	Other securities	—	$1.3M	$1.4M	0.8%
Shell International Fin BV $1,500,000 principal amount,	Other securities	—	$1.3M	$1.4M	0.8%
Party Collateral, Par or Maturity Date Cost Current Value Apple Inc $1,500,000 principal amount,	Common Stock	—	$1.3M	$1.3M	0.8%
Apple Inc 5,236 shares	Common Stock	—	$921K	$1.3M	0.8%
Burlington Northn $1,500,000 principal amount,	Other securities	—	$1.3M	$1.3M	0.8%
Texas Instruments Inc $1,500,000 principal amount,	Common Stock	—	$1.2M	$1.3M	0.8%
Amazon.com Inc $1,500,000 principal amount,	Common Stock	—	$1.2M	$1.3M	0.8%
University Tex Perm A Tax $1,695,000 principal amount,	Other securities	—	$1.2M	$1.3M	0.7%
Houston Tex Tax $1,500,000 principal amount,	Common Stock	—	$1.2M	$1.3M	0.7%
San Antonio Tex Tax $1,485,000 principal amount,	Other securities	—	$1.2M	$1.3M	0.7%
Duke Energy Progress LLC $1,500,000 principal amount,	Other securities	—	$1.2M	$1.2M	0.7%
Travis Cnty Tex B Tax $1,210,000 principal amount,	Other securities	—	$1.2M	$1.2M	0.7%
Party Collateral, Par or Maturity Date Cost Current Value Royal Bk Canada GMTN $1,200,000 principal amount,	Other securities	—	$1.2M	$1.2M	0.7%
Amazon.com Inc 5,502 shares	Common Stock	—	$705K	$1.2M	0.7%
due 2/15/32 Dallas Tex Wtrwks D Tax $1,500,000 principal amount,	Other securities	—	$1.1M	$1.2M	0.7%
Hawaii St GD Tax $1,500,000 principal amount,	Other securities	—	$1.1M	$1.2M	0.7%
Bank Montreal MTN $1,200,000 principal amount,	Other securities	—	$1.1M	$1.2M	0.7%
JPMorgan Chase & Co $1,200,000 principal amount,	Common Stock	—	$1.1M	$1.2M	0.7%
FNMA Pool #BS7739 $1,173,424 principal amount,	Agency / Mortgage-Backed	—	$1.2M	$1.2M	0.7%
Johns Hopkins Univ A $2,000,000 principal amount,	Other securities	—	$1.1M	$1.2M	0.7%
Northwestern Univ $1,500,000 principal amount,	Other securities	—	$1.2M	$1.2M	0.7%
Westpac Bkg Corp $1,200,000 principal amount,	Common Stock	—	$1.1M	$1.2M	0.7%
Bristol-Myers Squibb Co $1,200,000 principal amount,	Common Stock	—	$1.1M	$1.2M	0.7%