Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On October 23, 2008, Cullen/Frost Bankers, Inc. (the "Corporation") issued a
press release announcing that Mr. David J. Haemisegger was elected to the
Corporation's Board of Directors. The election of Mr. Haemisegger to the
Corporation's Board of Directors was effective as of October 23, 2008.
Mr. Haemisegger will stand for re-election at the 2009 annual shareholders
meeting. Mr. Haemisegger has not been named to any committees of the Board of
Directors.
Mr. Haemisegger is a borrower under a previously existing line of credit with
The Frost National Bank, a wholly-owned subsidiary of the Corporation. The line
of credit was entered into in the ordinary course of business, was made on
substantially the same terms as those prevailing at the time for comparable
transactions with other persons, and does not involve more than the normal risk
of collectability or present other unfavorable features.
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