Historic Transition for Frost Bank as Last Frost Family Member Retires
San Antonio, TX – June 25, 2024 – In a momentous change after 156 years of continuous family involvement, Frost Bank will bid farewell to Don Frost, the great-great-grandson of founder Thomas Claiborne “T.C.” Frost, as he retires at the end of this week. This marks the first time in the bank’s long history that it will no longer employ a member of the Frost family.
Don Frost’s departure signifies the end of an era, as his family legacy leaves with him. Over a career spanning more than four decades, Don contributed significantly to Frost Bank, a subsidiary of Cullen-Frost Bankers, Inc. Initially working for 30 years in commercial banking, Don played a crucial role in launching the bank’s investment banking operations in 2012.
Don is the son of Tom C. Frost, Jr., who became Frost Bank’s President in 1962. Tom C. Frost, Jr. ran the bank from 1971 until his retirement, serving as chairman until his passing in 2018. The Frost family’s leadership has been instrumental in shaping the bank’s trajectory and ensuring its stability and growth over the decades.
As Don Frost steps down, questions arise about the future direction of Frost Bank without the involvement of a family member for the first time. The bank, known for its strong ties to the Frost family, now enters a new chapter under the leadership of non-family executives.
Frost Bank, established in 1868, has grown into one of the largest banks in Texas, renowned for its commitment to customer service and community involvement. The institution now faces the challenge of maintaining its legacy and values while adapting to a future without the direct influence of its founding family.
The transition is expected to be smooth, with the current leadership team prepared to carry forward the bank’s mission and continue its tradition of excellence. The Frost family’s enduring legacy will undoubtedly remain a cornerstone of the bank’s identity, even as it navigates this significant change.
As the bank moves forward, stakeholders and customers will be watching closely to see how Frost Bank evolves and upholds the principles and practices that have defined it for over a century and a half.
