The following table presents actual and required capital ratios as of March 31, 2025 and December 31, 2024, 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 2024 Form 10-K for a more detailed discussion of the Basel III Capital Rules.


	Actual				Minimum Capital Required Plus Capital Conservation Buffer				Required to be Considered Well- Capitalized (1)
	Capital Amount		Ratio		Capital Amount		Ratio		Capital Amount		Ratio
March 31, 2025
Common Equity Tier 1 to Risk-Weighted Assets
Cullen/Frost	$	4,423,024	13.84	%	$	2,236,366	7.00	%	N/A		N/A
Frost Bank	4,450,865		13.95		2,233,945		7.00		$	2,074,377	6.50	%
Tier 1 Capital to Risk-Weighted Assets
Cullen/Frost	4,568,476		14.30		2,715,587		8.50		1,916,885		6.00
Frost Bank	4,450,865		13.95		2,712,647		8.50		2,553,080		8.00
Total Capital to Risk-Weighted Assets
Cullen/Frost	5,034,220		15.76		3,354,549		10.50		3,194,809		10.00
Frost Bank	4,776,609		14.97		3,350,917		10.50		3,191,350		10.00
Leverage Ratio
Cullen/Frost	4,568,476		8.84		2,067,094		4.00		N/A		N/A
Frost Bank	4,450,865		8.61		2,066,789		4.00		2,583,486		5.00

December 31, 2024
Common Equity Tier 1 to Risk-Weighted Assets
Cullen/Frost	$	4,343,666	13.62	%	$	2,232,822	7.00	%	N/A		N/A
Frost Bank	4,387,862		13.76		2,231,710		7.00		$	2,072,302	6.50	%
Tier 1 Capital to Risk-Weighted Assets
Cullen/Frost	4,489,118		14.07		2,711,283		8.50		1,913,847		6.00
Frost Bank	4,387,862		13.76		2,709,934		8.50		2,550,526		8.00
Total Capital to Risk-Weighted Assets
Cullen/Frost	4,954,136		15.53		3,349,232		10.50		3,189,745		10.00
Frost Bank	4,692,880		14.72		3,347,565		10.50		3,188,157		10.00
Leverage Ratio
Cullen/Frost	4,489,118		8.63		2,079,715		4.00		N/A		N/A
Frost Bank	4,387,862		8.44		2,079,965		4.00		2,599,956		5.00