CFR · CIK 39263
What Cullen/Frost Bankers, Inc. told the SEC could break it.
2 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
A limited set so far, we surface every cited disclosure we’ve extracted for CFR. More may follow as additional filings are processed.
In its own words
What could break it.
Commodity & input dependence
- energy (oil & gas) loan portfolio exposed to oil pricesmedium
Frost Bank's energy loan portfolio lends to oil & gas exploration/production, field servicing, energy transportation, drilling-equipment and petrochemical refining borrowers, so its credit quality is exposed to oil & gas prices (the bank's credit-loss model assumes ~$61/barrel oil in 2026).
“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”
Geographic concentration
- Texas — single-state bank (Frost Bank)medium
Cullen/Frost operates almost entirely through Frost Bank in Texas ($53.1B assets, $43.3B deposits, headquartered in San Antonio), concentrating its loan and deposit base in one state's economy plus Mexico-border commerce.
“At December 31, 2025, Frost Bank had consolidated total assets of $53.1 billion and total deposits of $43.3 billion and was one of the largest commercial banks headquartered in the State of Texas.”
SEC filing →As of 2026
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