Cullen/Frost Bankers CEO and chairman Phillip Green said the market got two key things wrong about the Texas bank when oil prices tanked in 2016.

"Number one was they overestimated the impact on the Texas economy when oil went down the way it went down," Green told "Mad Money" host Jim Cramer on Wednesday.

Green said market players equated the move to oil's downturn in the 1980s and assumed it would have the same effect on the 150-year-old bank.

"Well, it didn't happen because Texas is so much more diversified than it used to be," Green said.

The second thing the market got wrong was that "they heavily discounted our ability to work with our customers to deleverage and their ability and willingness to deleverage," Green continued.

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The CEO said his company's focus has always been on building relationships with its customers and partners, and that the market discounted the importance of those relationships.

Despite those concerns, Cullen/Frost's stock has rebounded sharply since January 2016, and business is still growing thanks to improved sentiment around markets and the overall economy, Green said.

"We saw really good loan growth in the fourth quarter, we saw a real turnaround, and then in the period of time since the end of the year we've continued to see strong loan growth," the CEO said.

Green added himself to Cramer's running list of executives who see a positive uptick in economic activity.

"I agree with what you're hearing," he said. "The attitude is markedly better."

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