Cullen/Frost Bankers, the parent of Frost Bank, announced Thursday that it has shifted its primary stock listing from the New York Stock Exchange to the Dallas‑based Texas Stock Exchange (TXSE). The move places one of the nation’s 50 largest banks on a home‑grown exchange and underscores Dallas’ growing reputation as an alternative financial hub.
Why the transfer matters for Texas
Founded in 1868 and headquartered in San Antonio, Frost Bank reported $54.5 billion in assets as of September 30. In a filing with the U.S. Securities and Exchange Commission on October 29, the company disclosed that both its common stock (ticker CFR) and its Series B preferred depositary shares (CFR.PrB) would retain their existing symbols after the transfer.
“Since 1868, Frost has played a key role in supporting the growth of the Texas economy,” said Cullen/Frost Chairman and CEO Phil Green in the October 29 release. Green added that the listing change reflects the broader migration of businesses and finance professionals to Texas, particularly to Dallas’ emerging “Y’All Street” district.
Impact on the Texas Stock Exchange
The Texas Stock Exchange issued a notice on November 10 to market participants confirming the change, and the MIAX Options Exchanges verified that the transfer took effect Thursday morning. The exchange also celebrated the recent transfer of Texas Capital’s primary listing on November 9, signaling a growing pipeline of major Texas‑based companies choosing a local venue over traditional Wall Street markets.
Financial performance highlights
In its third‑quarter report, Cullen/Frost announced net income available to common shareholders of $178.5 million, up from $172.7 million a year earlier. Average loans rose 9 percent to $23.4 billion compared with the same quarter in 2025, indicating continued growth in its core banking business.
Shareholders were told they need not take any action as a result of the listing change, and the company emphasized that the securities will continue to trade under the same symbols, ensuring a seamless transition for investors.
Local significance
Dallas officials and business leaders have long promoted the city as a viable alternative to New York for financial services. The arrival of Frost Bank on the Texas Stock Exchange adds credibility to the “Y’All Street” vision and may encourage other regional banks and corporations to consider a similar move.
The Dallas Express previously highlighted the district in its “Let’s Talk Local” podcast, discussing the exchange’s plans to launch broader trading capabilities and attract additional corporate listings. Frost Bank’s transfer is a tangible step toward that goal.
Looking ahead
As more Texas‑based firms evaluate the benefits of a local exchange—such as reduced regulatory friction, closer proximity to customers, and a supportive state business climate—industry observers expect the Texas Stock Exchange to gain further traction. For now, Frost Bank’s decision serves as a strong endorsement of Dallas’ growing financial ecosystem and its potential to rival traditional Wall Street venues.
Original reporting: The Dallas Express — read the source article.
