Frost Bank's Leasing Division Becomes Frost Equipment Leasing And Finance

SAN ANTONIO, July 21, 2011 /PRNewswire/ -- Frost Bank has changed the name of its Frost Leasing division to Frost Equipment Leasing and Finance, according to Harry Kaplun, president of Frost Equipment Leasing and Finance.

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"The new name better reflects the way we do business today and the variety of products we offer," said Kaplun.  "Our customers need more than lease products, so we offer specialized equipment finance solutions to the broad spectrum of customers Frost serves."

"Our bankers know that if a customer wants to acquire equipment, they should be talking to the experts, and they bring us into the conversation," said Kaplun.  "We help customers figure out the most efficient way to acquire equipment, with the most flexibility and tax benefit possible."

Frost offers equipment financing for any type of equipment in any industry, municipality or non-profit, including printing, manufacturing and fabrication equipment, trucks, trailers and construction equipment and medical equipment.  In recent years, Frost has started to provide specialized equipment financing of airplanes, rail cars and vessels.  

Frost Leasing was established in 2001, and in its 10 years as a division of the bank, it has grown to become the 70th largest equipment leasing and finance company in the U.S., according to the Monitor 100.  With a staff of 12,  Frost Equipment Leasing and Finance has $264 million in assets as of June 30, 2011.

Frost Equipment Leasing and Finance is also one of the companies that comprise the MLFI 25, or the Monthly Lease Finance Index, which is published each month by the Equipment Leasing and Finance Association (ELFA).  

Frost is the banking subsidiary of Cullen/Frost Bankers, Inc. (NYSE: CFR), a financial holding company headquartered in San Antonio, with assets of $17.9 billion at March 31, 2011 and more than 110 financial centers throughout Texas. One of 24 U.S. banks included in the KBW Bank Index, Frost provides a wide range of banking, investments and insurance services to businesses and individuals in the Austin, Corpus Christi, Dallas, Fort Worth, Houston, 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.

Renee Sabel[phone]

SOURCE Frost Bank

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