Frost Buys Out Western National Bank For $220 Million

The parent of Frost Bank has signed a merger that will widen the bank's capacity for energy financing.

Cullen/Frost will absorb WNB Bancshares — parent of Western National Bank — in a cash and stock transaction valued at $220 million. WNB operates primarily in Midland and Odessa, at the heart of the Permian Basin.

Dick Evans is chairman and CEO of Cullen/Frost.

“There’s no question that the Permian Basin is such a dynamic market. You know, some 14% of all the oil produced in the United States comes from there and 57% of Texas production.”

Evans says the acquisition will broaden Cullen/Frost’s portfolio of energy loans. 

The deal is expected to close in January 2014, pending approval by the Federal Reserve and the Texas Department of Banking. 


Andrew Schneider

Andrew Schneider

Business Reporter

Andrew Schneider joined News 88.7 in January 2011. Since arriving in Houston, he has reported on the many changes wrought on the region’s economy by the revolution in domestic oil and gas production. His non-energy reporting runs the gamut from white-collar crime to cattle ranching. His work has aired on...

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