Over the past five months, I have worked closely with Travis and my colleagues in ensuring a smooth leadership transition.

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The economies around the world have been slightly stronger than we anticipated.

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As a result of a rising interest rate environment — which is a positive for a bank like Frost with an asset-sensitive balance sheet — net interest margin for the year rose again to 4.45 percent, the highest level since 2002. Loans ended the year at $6.1 billion, reaching their highest level ever, and deposits rose to $9.1 billion, also a record.

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Those two factors will not repeat in the second quarter. However, the carry-through of higher aluminum prices with the lag will carry through.

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We're working on them all simultaneously to see which ones we can bring forward first, and it's too early to say how those different options would progress.

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For more than 138 years, it has been Frost Bank's privilege to help Texans with their financial needs. Like Frost, Texas Community Bank & Trust has a strong tradition of building long-term customer relationships with both private clients and corporate customers, and we are pleased to welcome them into our Frost Bank organization.

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