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<B><FONT SIZE=3><P ALIGN="CENTER">UNITED STATES</B></FONT></TD>
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<B><FONT SIZE=3><P ALIGN="CENTER">SECURITIES AND EXCHANGE COMMISSION</B></FONT></TD>
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<FONT SIZE=3><P ALIGN="CENTER">Washington, D.C. 20549</FONT></TD>
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<B><FONT SIZE=3><P ALIGN="CENTER">FORM 8-K</B></FONT></TD>
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<B><FONT SIZE=3><P ALIGN="CENTER">CURRENT REPORT</B></FONT></TD>
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<B><FONT SIZE=3><P ALIGN="CENTER">Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</B></FONT></TD>
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<B><FONT SIZE=3><P ALIGN="CENTER">Date of Report</B> </FONT><FONT SIZE=2>(Date of earliest event reported)</FONT><FONT SIZE=3>: <B>  April&nbsp;24, 2008</B></FONT></TD>
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<B><FONT SIZE=4><P ALIGN="CENTER">CULLEN/FROST BANKERS, INC.</B></FONT></TD>
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<FONT SIZE=2><P ALIGN="CENTER">(Exact name of issuer as specified in its charter)</FONT></TD>
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<B><FONT SIZE=3><P ALIGN="CENTER">Texas</B></FONT></TD>
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<B><FONT SIZE=3><P ALIGN="CENTER">0-7275</B></FONT></TD>
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<B><FONT SIZE=3><P ALIGN="CENTER">74-1751768</B></FONT></TD>
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<FONT SIZE=2><P ALIGN="CENTER">(State or other jurisdiction</FONT></TD>
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<FONT SIZE=2><P ALIGN="CENTER">(Commission </FONT></TD>
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<FONT SIZE=2><P ALIGN="CENTER">(IRS Employer</FONT></TD>
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<FONT SIZE=2><P ALIGN="CENTER">of incorporation)</FONT></TD>
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<FONT SIZE=2><P ALIGN="CENTER">File Number)</FONT></TD>
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<FONT SIZE=2><P ALIGN="CENTER">Identification No.)</FONT></TD>
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<B><FONT SIZE=3><P ALIGN="CENTER">100 West Houston Street, San Antonio, Texas</B></FONT></TD>
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<B><FONT SIZE=3><P ALIGN="CENTER">78205</B></FONT></TD>
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<FONT SIZE=2><P ALIGN="CENTER">(Address of principal executive offices)</FONT></TD>
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<FONT SIZE=2><P ALIGN="CENTER">(Zip Code)</FONT></TD>
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<B><FONT SIZE=3><P ALIGN="CENTER">(210) 220-4011</B></FONT></TD>
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<FONT SIZE=2><P ALIGN="CENTER">(Registrant's telephone number, including area code)</FONT></TD>
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<B><FONT SIZE=3><P ALIGN="CENTER">Not Applicable</B></FONT></TD>
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<FONT SIZE=2><P ALIGN="CENTER">(Former name or former address, if changed since last report)</FONT></TD>
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<FONT SIZE=3><P ALIGN="JUSTIFY">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below): </FONT></TD>
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<FONT SIZE=3><P ALIGN="JUSTIFY">[&nbsp;&nbsp;]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD>
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<FONT SIZE=3><P ALIGN="JUSTIFY">[&nbsp;&nbsp;]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD>
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<FONT SIZE=3><P ALIGN="JUSTIFY">[&nbsp;&nbsp;]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD>
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<FONT SIZE=3><P ALIGN="JUSTIFY">[&nbsp;&nbsp;]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD>
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</FONT><U><FONT SIZE=1><P ALIGN="JUSTIFY">&nbsp;</P></U></FONT>
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<B><FONT SIZE=3><P ALIGN="JUSTIFY">Item 5.02&#9;Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers</B></FONT></TD>
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<FONT SIZE=3><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;Effective April&nbsp;24, 2008, the term as a member of the Cullen/Frost Bankers, Inc.'s (the "Corporation") Board of Directors of Mr. T.C. Frost expired. Mr. Frost served as the Senior Chairman of the Board of the Corporation and was a member of the Board's Executive Committee and Strategic Planning Committee. Mr. Frost did not stand for re-election pursuant to his retirement.</FONT></TD>
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<B><FONT SIZE=3><P ALIGN="CENTER">SIGNATURES</B></FONT></TD>
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<FONT SIZE=3><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</FONT></TD>
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<B><FONT SIZE=3><P ALIGN="JUSTIFY">CULLEN/FROST BANKERS, INC.</B></FONT></TD>
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<TD WIDTH="50%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
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<FONT SIZE=3><P ALIGN="RIGHT">By:&nbsp;&nbsp;</FONT></TD>
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<FONT SIZE=3><P ALIGN="JUSTIFY">  /s/ Phillip D. Green</FONT></TD>
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<TD WIDTH="25%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="32%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="18%" VALIGN="TOP" HEIGHT=1><P></P></TD>
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<FONT SIZE=3><P ALIGN="JUSTIFY">Phillip D. Green</FONT></TD>
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<FONT SIZE=3><P ALIGN="JUSTIFY">Group Executive Vice President</FONT></TD>
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<FONT SIZE=3><P ALIGN="JUSTIFY">and Chief Financial Officer</FONT></TD>
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<FONT SIZE=3><P ALIGN="RIGHT">Dated:&nbsp;&nbsp;</FONT></TD>
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<FONT SIZE=3><P ALIGN="JUSTIFY">April&nbsp;24, 2008</FONT></TD>
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ITEM 8
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report
(Date of earliest event reported)
:
April 24, 2008
CULLEN/FROST BANKERS, INC.
(Exact name of issuer as specified in its charter)
Texas
0-7275
74-1751768
(State or other jurisdiction
(Commission
(IRS Employer
of incorporation)
File Number)
Identification No.)
100 West Houston Street, San Antonio, Texas
78205
(Address of principal executive offices)
(Zip Code)
(210) 220-4011
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):
[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02	Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Effective April 24, 2008, the term as a member of the Cullen/Frost Bankers, Inc.'s (the "Corporation") Board of Directors of Mr. T.C. Frost expired. Mr. Frost served as the Senior Chairman of the Board of the Corporation and was a member of the Board's Executive Committee and Strategic Planning Committee. Mr. Frost did not stand for re-election pursuant to his retirement.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
CULLEN/FROST BANKERS, INC.
By:
/s/ Phillip D. Green
Phillip D. Green
Group Executive Vice President
and Chief Financial Officer
Dated:
April 24, 2008