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Cullen/Frost Bankers, Inc. Message Board

  • brunoq_78242 brunoq_78242 Feb 19, 2004 2:15 PM Flag

    Wachovia

    Article in WSJ today about expansion in Texas. They said they would consider an acquisition--CFR and Compass Bancshares were the only possible targets mentioned.

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    • Compass needs to be bought out.

      Frost would lose business. They pride themselves on being a Texas bank.

      I initially started out with another Texas bank several years ago. Customer service was great. They knew my name. If my balance went negative, they would call me and ask if I 'd like to stop by and make a deposit so I would have to pay any NSF fees.

      This bank soon got bought out by Norwest, which then bought Wells Fargo. There is nothing resembling personal service left. The only thing it has going for it is that I can call and talk to a person 24/7 if I have any problems.

      I just moved my personal accounts to Frost last week. They provide the level of customer service I received at the original "Texas bank".

      I know several other people who use them because of their rare (these days) level of personal service. They market themselves as a Texas Bank ("We're from here."). Selling out to the likes of Wachovia (the opposite of the type of bank that Frost Bank is to its customers) would lose them a lot of customers in a hurry.

      Wachovia should buy Compass. I haven't met anyone that uses them that likes them. On the other hand, all the Frost Bank customers I know have nothing but praise for them. That's rare for a bank these days. I don't see Wachovia having anything good to offer Frost Bank other than short term gains for its shareholders at the expense of customers leaving in droves after Wachovia took over.

      Been there. Done that. It wasn't pretty.

      Wachovia, please buy Compass and don't screw up the last good bank in Austin.

 
CFR
80.13Sep 17 4:01 PMEDT

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