I have banked with Frost Bank since 1975, when I moved to San Antoinio. Their service is great, the people are helpful, and from the depths of 1985 they have really grown. Just wish I'd bought the stock at 9, instead of 36, but my investment has tripled over the years. Frankly, I hope they aren't taken over because fees will go up and service down. Frost have always been very conservatively managed,which is why they were one of the few Texas banks not to go bust. With their acquisitions over the years, they now have amassed a strong presence in Houston since I moved there in 1993. Now they moved into the Fort Worth area. not mention Galveston, Corpus Christi, San Marcos, Boerne, etc. So for a predator they have good coverage of Texas, which is a big market.
I have banked with Frost as well and love their service and smiles. I am now contemplating a block of the stock. Is this wise at this point? WIll the growth continue or will Bank One try to take over? Please advise.
Well who can say. I always thought that they would be taken over long ago. But maybe the Frost and Cullen families still hold significant % of stock, and this could be an impediment unless they wish to cash out. If I remember a Frost is still President after Tom stepped down. The premium from a take over would be nice, but I prefer the good service. Just for grins, check out the message board for UPC (Union Planters). Lots of unhappy Sunburst ex-customers. I only checked this out, because John Dessauer in his Investors World had tipped this as a Buy. Which I was thinking of doing until I read the comments on the message board.
I am long 400, which was originally 100 before splits. So I plan to hang in. If I had none or only a small holding I would consider increasing it. The P/E is quite low. Good hunting.