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.
Watch the full segment here: