CULLEN FROST BANKERS INC

Ticker: CFR CUSIP: 229899109 Class: COM

ANCHOR CAPITAL ADVISORS LLC's Holding History (CIK: 0000813933)

Note: Option positions (PUT/CALL) are excluded.

Q3 2014

Shares 23,205 Value ($000) $1,775 Avg Close $56.16 Range $53.78 - $58.73

Q2 2014

Shares 30,200 Value ($000) $2,398 Avg Close $54.77 Range $51.32 - $57.00

Q1 2014

Shares 45,000 Value ($000) $3,489 Avg Close $52.77 Range $49.21 - $56.00

Q4 2013

Shares 51,255 Value ($000) $3,815 Avg Close $50.20 Range $48.35 - $52.59

Q3 2013

Shares 72,626 Value ($000) $5,124 Avg Close $49.56 Range $46.51 - $53.04

Q2 2013

Shares 76,281 Value ($000) $5,093 Avg Close $43.57 Range $40.75 - $46.68

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2014	23,205	$1,775	$56.16	$53.78 - $58.73
Q2 2014	30,200	$2,398	$54.77	$51.32 - $57.00
Q1 2014	45,000	$3,489	$52.77	$49.21 - $56.00
Q4 2013	51,255	$3,815	$50.20	$48.35 - $52.59
Q3 2013	72,626	$5,124	$49.56	$46.51 - $53.04
Q2 2013	76,281	$5,093	$43.57	$40.75 - $46.68