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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
39263	Cullenost Bankers Inc.	CFR	National Commercial Banks (6021)	741751768

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1128390	Denny R Alexander	4200 S. Hulen Street Suite 617 Fort Worth TX 76109		Yes	No	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock, $0.01 Par Value	Acquisiton	2012-04-27	2,000	$56.90	63,550	No	4	M	Direct
Common Stock, $0.01 Par Value	Disposition	2012-04-27	2,000	$58.86	61,550	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	M	Direct
No	4	S	Direct

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Deferred Stock Units	Acquisiton	2012-04-26	512	$0.00	512	$0.00
Common Stock	Stock Option	Disposition	2012-04-27	2,000	$0.00	2,000	$56.90

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
2,725			No	4	A	Direct
0	2006-04-27	2012-04-27	No	4	M	Direct

Footnotes

The price in Column 4 is based on a weighted average price. The prices actually paid range from $58.8600 to $58.8620. The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.
Each deferred stock unit represents the right to receive one share of Cullen/Frost common stock.
The deferred stock units vested on April 26, 2012. Shares will be delivered to the reporting person on the date when the reporting person experiences a separation from service with Cullen/Frost.