Cullen/Frost Bankers, the parent company of Frost Bank, transferred its primary stock listing from the New York Stock Exchange to the Dallas-based Texas Stock Exchange (TXSE) on Thursday, bringing one of the country’s 50 largest banks to the homegrown exchange.
The San Antonio-based financial institution, which traces its roots to 1868, had $54.5 billion in assets as of September 30. Its decision gives Dallas another established financial company as the city builds its reputation as an alternative to Wall Street.
Cullen/Frost disclosed the voluntary transfer on October 29 in a filing with the U.S. Securities and Exchange Commission. The move covers its common stock and depositary shares representing Series B preferred stock.
The company told shareholders in an October 29 release that they need not take any action and that both securities would retain their existing trading symbols, CFR and CFR.PrB.
The Texas Stock Exchange issued a November 10 notice to market participants detailing the change. On Thursday morning, the MIAX Options Exchanges confirmed the transfer took effect.
“Since 1868, Frost has played a key role in supporting the growth of the Texas economy,” Cullen/Frost Chairman and CEO Phil Green said in the October 29 release.
Green said the move reflects the migration of businesses and finance professionals to Texas, particularly Dallas’ emerging Y’All Street financial district.
The listing change comes as Frost continues to grow its banking business. Cullen/Frost announced third-quarter net income available to common shareholders of $178.5 million, up from $172.7 million a year earlier. Average loans reached $23.4 billion, an increase of 9% from the same quarter in 2025.
The Texas Stock Exchange also celebrated the transfer of Texas Capital’s primary listing on November 9.
The Dallas Express previously explored Dallas’ emerging financial district in its Let’s Talk Local podcast, Welcome to Y’All Street, discussing the Texas Stock Exchange’s plans to launch trading and attract corporate listings.
