Market Overview

Frost Bank Recognized for $8.8 Million to Affordable Housing


CARE Award from FHLB Dallas Honors Two Decades of Support

Frost Bank, a member of the Federal Home Loan Bank of Dallas (FHLB
), was recently honored with FHLB Dallas' 2017 CARE Award. An
acronym that stands for "Community Area Revitalization Efforts," the
CARE Award recognizes Frost Bank's affordable housing achievements over
the past 20 years.

This press release features multimedia. View the full release here:

Frost Bank recently was honored with the 2017 CARE Award from the Federal Home Loan Bank of Dallas,  ...

Frost Bank recently was honored with the 2017 CARE Award from the Federal Home Loan Bank of Dallas, recognizing Frost's $8.8 million invested in Texas affordable housing since 1998. At left: Frost Bank Senior EVP Bill Sirakos, Frost Bank Senior VP and CRA Officer Donna Normandin, FHLB Dallas First VP and Director of Community Investment Greg Hettrick, Frost Bank VP Jacob Cavazos and FHLB Dallas President and CEO Sanjay Bhasin. (Photo: Business Wire)

"Frost Bank is committed to making a positive impact on the community
through revitalization and partnerships with those who share in our
mission," said Donna Normandin, senior vice president and CRA officer at
Frost Bank. "Giving back is important to us. It's part of who we are as
a company."

In conjunction with the award, FHLB Dallas contributed $7,500 to a
community-based organization of Frost Bank's choice. After working with
Houston-based nonprofit, Change Happens, for the last eight years, Frost
Bank selected the organization to receive the funds because of its
Hurricane Harvey relief efforts in the community.

Established in 1989, Change Happens is a 501(c)(3) that provides
outreach services to Harris County. Since the inception of the
partnership with Change Happens, Frost Bank has donated almost $80,000
and many volunteer hours in support of the nonprofit's mission.

Change Happens CEO and Founder, the Rev. Leslie Smith, said he was
thrilled to learn of the unexpected funding, which will be used to
further the organization's mission.

"At Change Happens, we work tirelessly to provide services to adults and
at-risk youth in Houston with the goal of empowering those individuals
to become positive and productive contributors to the community," said
Rev. Smith. "The funds from Frost Bank help us further our mission, and
we couldn't be more thankful."

Since 1998, Frost Bank has invested more than $8.8 million in Texas
communities using FHLB Dallas' Affordable Housing Program (AHP), which
assists in the purchase, construction and/or rehabilitation of
owner-occupied, rental and transitional housing, as well as other grant
programs offered by FHLB Dallas. These programs focus on promoting and
strengthening relationships between community-based organizations, small
business development, home rehab for special-needs and elderly residents
and down payment and closing cost assistance for first-time homebuyers.

"Frost Bank has been a strong contributor to many of the affordable
housing and economic development projects in Texas," said Sanjay K.
Bhasin, president and CEO of FHLB Dallas. "Congratulations to everyone
at Frost Bank on this well-deserved award. It is our distinct honor to
partner with them to serve Texans in need."

FHLB Dallas provides members with grant programs targeted specifically
to the needs of low- to moderate-income communities in addition to
favorably priced advances (loans) and other banking services.

About Frost Bank

Frost is the banking, investments and insurance subsidiary of
Cullen/Frost Bankers, Inc. (NYSE:CFR), a financial holding company with
$31 billion in assets at Sept. 30, 2017. One of the 50 largest U.S.
banks by asset size, Frost provides a full range of banking, investments
and insurance services to businesses and individuals in the Austin,
Corpus Christi, Dallas, Fort Worth, Houston, Permian Basin, Rio Grande
Valley and San Antonio regions. Founded in 1868, Frost has helped Texans
with their financial needs during three centuries. For more information,

About the Federal Home Loan Bank of Dallas

The Federal Home Loan Bank of Dallas is one of 11 district banks in the
FHLBank System created by Congress in 1932. FHLB Dallas, with total
assets of $66.4 billion as of September 30, 2017, is a member-owned
cooperative that supports housing and community investment by providing
competitively priced loans and other credit products to approximately
840 members and associated institutions in Arkansas, Louisiana,
Mississippi, New Mexico and Texas. For more information, visit

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