Insider Trades - ALVAREZ CARLOS

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ALVAREZ CARLOS: Declared Holdings
Company/Relationship	Reported	Shares	Ownership
Cullen/Frost Bankers, Inc. Comm Director NYSE:CFR (historical quotes, profile, SEC, other insiders)	10-Apr-13	330,000	Direct

Insider & restricted shareholder transactions reported over the last two years
Date Shares Stock Transaction
10-Apr-13 2,000 CFR Option Exercise at $52.55 per share.
(Cost of $105,100)
2-May-12 2,000 CFR Sale at $59.09 per share.
(Proceeds of $118,180)
26-Apr-12 2,000 CFR Option Exercise at $56.90 per share.
(Cost of $113,800)
26-Apr-12 2,000 CFR Sale at $58.53 per share.
(Proceeds of $117,060)

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Insider & restricted shareholder transactions reported over the last two years
Date	Shares	Stock	Transaction
10-Apr-13	2,000	CFR	Option Exercise at $52.55 per share. (Cost of $105,100)
2-May-12	2,000	CFR	Sale at $59.09 per share. (Proceeds of $118,180)
26-Apr-12	2,000	CFR	Option Exercise at $56.90 per share. (Cost of $113,800)
26-Apr-12	2,000	CFR	Sale at $58.53 per share. (Proceeds of $117,060)