Frost Bank Issues Statement Regarding Unauthorized Access To Commercial Lockbox Image Archive

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Mar 16, 2018, 04:20 ET

SAN ANTONIO, March 16, 2018 /PRNewswire/ -- Today, bankers at Frost Bank, a subsidiary of Cullen/Frost Bankers, Inc. (NYSE: CFR) will start briefing commercial lockbox customers about a recently discovered unauthorized access to digital images stored in those customers' commercial image archives.

Earlier this week, Frost detected the unauthorized access to a third-party lockbox software program and immediately launched an investigation and started taking remediation actions. We have stopped the identified unauthorized access and are working with a leading cybersecurity firm. We have reported the incident to, and are cooperating with, law-enforcement authorities and our investigation is ongoing. We are contacting each of the affected commercial customers and will be working with them to support them in taking appropriate actions. The identified incident did not impact other Frost systems.

"At Frost, we care deeply about taking care of our customers and protecting their information, and we regret that this situation has occurred," said Frost Chairman and CEO Phil Green. "We are working very hard to make things right."

People with questions or concerns should contact their Frost banker, call Frost's 24-hour customer service line at 800-513-7678, or refer to the FAQs on our website at www.frostbank.com.

Cullen/Frost Bankers, Inc. (NYSE: CFR) is a financial holding company, headquartered in San Antonio, with $31.7 billion in assets at Dec. 31, 2017. One of the 50 largest U.S. banks, Frost provides a wide range of banking, investments and insurance services to businesses and individuals across Texas in the Austin, Corpus Christi, Dallas, Fort Worth, Houston, Permian Basin, Rio Grande Valley and San Antonio regions. Founded in 1868, Frost has helped clients with their financial needs during three centuries. Additional information is available at frostbank.com.

Forward-Looking Statements and Factors that Could Affect Future Results

Certain statements contained in this Press Release or made by authorized officers with respect to the subject matter of this Press Release that are not statements of historical fact may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, notwithstanding that such statements are not specifically identified as such. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those in such statements. The foregoing forward-looking statements are based on certain factors and assumptions and may prove to be incorrect. The foregoing, as well as various risk factors, are described in our filings with the Securities and Exchange Commission including in our Forms 10‑K and 10‑Q, to which reference is made. Additional factors include the final results of our investigation as well as the ultimate impact of the foregoing on our customers. Forward-looking statements speak only as of the date on which such statements are made. We do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events.

Bill Day
Media Relations
210-220-5427

SOURCE Frost Bank