Cullen/Frost Bankers Transfers Primary Listing from NYSE to Texas Stock Exchange

Event Overview

On October 29, 2026, Cullen/Frost Bankers, Inc. announced that its Board of Directors authorized the voluntary withdrawal and transfer of its primary listing from the New York Stock Exchange (NYSE) to the Texas Stock Exchange (TXSE).

Key Details & Timeline

• Securities Involved:
  • Common Stock, par value $0.01 per share (Ticker: CFR)
  • Depositary Shares, each representing a 1/40th interest in a share of 4.450% Non-Cumulative Perpetual Preferred Stock, Series B (Ticker: CFR.PrB)
• Cease Trading on NYSE: Market close on Wednesday, November 11, 2026.
• Commence Trading on TXSE: Market open on Thursday, November 12, 2026.
• Ticker Symbols: Will remain identical on TXSE (CFR and CFR.PrB).
• Shareholder Impact: No action is required on the part of shareholders.

Strategic Rationale & Market Impact

Cullen/Frost Bankers, established in 1868 and headquartered in San Antonio with $54.5 billion in assets as of September 30, 2026, is the largest Texas-headquartered bank. The move to the Texas Stock Exchange is a high-profile endorsement of the nascent regional exchange and aligns with the broader migration of financial institutions and capital into Texas. While operational fundamentals, liquidity mechanisms, and balance-sheet metrics remain unchanged, the listing transfer represents a notable strategic alignment with Texas's growing financial hub.