Cullen/Frost elects Hope Andrade to board, expands board to 14 members
Cullen/Frost Bankers' board elected Hope Andrade as a director effective January 24, 2024, and expanded the board from 13 to 14 members. Andrade will serve on the Audit and Risk Committees, and the board determined she is independent; the filing discloses that her affiliated company had banking transactions with the bank in 2023 in the ordinary course of business.
- Hope Andrade elected to the board on January 24, 2024; board size increased from 13 to 14 members
- Andrade will serve on the Audit and Risk Committees and is compensated consistently with other non-employee directors
- Go Rio San Antonio LLC, which Andrade beneficially owns, had banking transactions with Cullen/Frost in 2023; more are expected in 2024
- Press release dated January 26, 2024 reports $50.8 billion in assets at December 31, 2023