The upcoming report from CrossFirst Bankshares (CFB) is expected to reveal quarterly earnings of $0.36 per share, indicating no change from the year-ago quarter compared to the year-ago period. Analysts forecast revenues of $62.17 million, representing an increase of 6.5% year over year.Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.A ...

The table below presents the effect of cash flow hedge accounting on Accumulated Other Comprehensive Income (Loss) for the three- and nine-months ended September 30, 2023 and 2022. | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------------|--------------------------------------------------------------------------------------------------|----------------|---------------------------------------|----------------|-------------------------------------- ...

Financial Data and Key Metrics Changes - GAAP net income for the quarter was $16.9 million or $0.34 per share, with adjusted net income of $18.6 million or $0.37 per share, reflecting a 7% growth in adjusted earnings [18][30] - Net interest income on a fully tax equivalent basis increased slightly by $0.5 million from the previous quarter, driven by higher average earning assets and loan yields [19] - The effective net interest margin narrowed by 8 basis points to 3.19%, with expectations for Q4 to be in the range of 3.20% to 3.25% [20][44] Business Line Data and Key Metrics Changes - Total loan growth was $149 million, resulting in a growth rate of 2.6% for the quarter, primarily due to the Tucson acquisition [35] - Non-interest income was $6 million for the quarter, a 3% increase from the second quarter, driven by treasury and credit card revenues [21] - Average loan yield on new production was strong at 8.54%, with a total cost of deposits at 3.59% against loan yields of 6.96% [12][43] Market Data and Key Metrics Changes - Core deposits increased while wholesale borrowings declined, improving the funding composition [31] - Non-interest bearing deposits increased to $1 billion, representing 16% of total deposits, up from 15% in the previous quarter [40] - The company reported an increase in non-performing assets to $36.1 million, resulting in a non-performing asset to total asset ratio of 50 basis points [14] Company Strategy and Development Direction - The company is focused on improving profitability by scaling its franchise in high-growth markets, optimizing expenses, and maintaining credit quality [30][33] - The Tucson acquisition is expected to enhance liquidity and lower cost deposits, with full onboarding of clients anticipated by mid-November [10] - The company aims to continue driving efficiencies and operating leverage while managing expenses [45][116] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining solid credit quality despite external challenges, with a focus on proactive management of relationships [11][17] - The company anticipates moderate loan growth in the last quarter of 2023, with a healthy pipeline of new transactions heading into 2024 [17][33] - Management noted that competition for deposits remains strong, but they believe they are near the peak of deposit pricing [44] Other Important Information - The company completed the Tucson acquisition, which was immediately accretive with modest dilution and a short earn-back period of less than two years [47] - The liquidity position remains strong, with approximately $2.4 billion from on and off-balance sheet sources [23] - The tangible book value per share decreased by 3% compared to the prior quarter due to unrealized losses on available-for-sale securities [22] Q&A Session Summary Question: What is the outlook for loan growth in the coming quarters? - Management indicated that loan growth is expected to be moderate, driven by customer demand and credit decision-making [57][113] Question: How is the company managing its securities portfolio? - The company is evaluating options to improve yields on earning assets and is considering restructuring scenarios [49][120] Question: What are the expectations for non-interest income moving forward? - Management expects non-interest income to remain stable, with potential for growth in treasury and credit card platforms [98][117] Question: How does the company view its capital ratios and potential buybacks? - Management confirmed that they expect to meet their capital targets and may consider returning capital to shareholders if stock prices remain low [107][108]

Financial Performance - Net income for the three months ended June 30, 2023, was $16,047,000, an increase from $15,545,000 in the same period of 2022, representing a growth of 3.2%[23] - Comprehensive income for the six months ended June 30, 2023, was $33,850,000, compared to a loss of $38,545,000 in the same period of 2022[23] - Net income for the six months ended June 30, 2023, was $32,155, compared to $32,373 for the same period in 2022, reflecting a slight decrease of 0.7%[47] - The company reported a net income before taxes of $20,266,000 for the three months ended June 30, 2023, compared to $19,572,000 for the same period in 2022, reflecting a growth of 3.5%[41] - Net income available to common stockholders for the three months ended June 30, 2023, was $15,944 thousand, compared to $15,545 thousand in 2022, marking an increase of 2.6%[205] Asset and Liability Management - Total assets as of June 30, 2023, were $1,123,000,000, reflecting a growth from $1,100,000,000 as of March 31, 2023[23] - As of June 30, 2023, the total assets amounted to $651.483 million, an increase from $608.599 million at December 31, 2022, reflecting a growth of approximately 7%[26] - Total financial assets included cash and cash equivalents of $342.497 million and available-for-sale securities of $743.900 million as of June 30, 2023[186] - Total deposits amounted to $6.100 billion, with a significant portion attributed to wholesale funding sources[186] - The company’s total borrowings as of June 30, 2023, amounted to $2,115,483 thousand, with time deposits contributing $1,709,991 thousand and FHLB borrowings at $95,544 thousand[146] Loan Portfolio and Credit Quality - As of June 30, 2023, the total loan portfolio amounts to $679,232,000, a decrease from $1,402,306,000 in December 31, 2022[63] - The "Pass" category loans total $645,342,000, representing approximately 95% of the total loan portfolio[63] - Special mention loans are at $22,314,000, which is an increase from $11,656,000 in December 31, 2022[63] - The total amount of substandard loans (both accrual and non-accrual) is $20,742,000, compared to $2,583,000 in December 31, 2022[63] - The overall risk rating indicates a stable credit risk profile, with the majority of loans classified as "Pass"[62] Income and Expense Analysis - Total interest income for the three months ended June 30, 2023, was $107,148,000, an increase of 102.5% compared to $52,840,000 for the same period in 2022[41] - Total non-interest income for the six months ended June 30, 2023, was $10,200,000, compared to $9,143,000 for the same period in 2022, marking an increase of 11.6%[41] - Total non-interest expense for the six months ended June 30, 2023, was $75,504,000, an increase from $56,869,000 for the same period in 2022, reflecting a rise of 32.8%[41] - The company reported stock-based compensation of $2.503 million during the period[26] - The total comprehensive income included a gain of $3.298 million from available-for-sale securities and a loss of $1.603 million from cash flow hedges[26] Strategic Initiatives and Growth Plans - The company plans to continue its growth strategy through potential mergers and acquisitions, particularly following the acquisition of Canyon Bancorporation, Inc.[20] - The company aims to enhance its service offerings and expand into new markets as part of its strategic initiatives[20] - The company anticipates maintaining its capital allocation strategies to support future growth and manage risks effectively[20] - The company completed the acquisition of Canyon Bancorporation, Inc. on August 1, 2023, paying approximately $9.1 million in cash and issuing 597,645 shares of common stock[188] - The company anticipates continued focus on market expansion and new product development in the upcoming quarters[90] Risk Management and Credit Losses - The allowance for credit losses (ACL) is estimated at $67,567,000, representing a percentage of loans at 1.18%[82] - The company recorded no credit loss impairment during the six months ended June 30, 2023, indicating stable credit quality[51] - The provision for credit losses was $3,040,000, reflecting the company's strategy to strengthen its financial position amid market uncertainties[105] - The total allowance for credit losses increased to $67,567,000, up from $65,130,000, indicating a proactive approach to managing credit risk[105] - The company continues to monitor risk ratings on an ongoing basis to ensure timely adjustments based on borrower performance[59] Shareholder and Capital Management - The company declared dividends of $103 thousand related to the Series A Non-Cumulative Perpetual Preferred Stock during the three months ended June 30, 2023[155] - The aggregate number of shares authorized for future issuance under the Omnibus Plan is 1,275,410 shares as of June 30, 2023[151] - The company had 49,290,990 shares of common stock outstanding as of August 1, 2023[37] - The company reported a total of 522,567 unvested restricted stock units as of June 30, 2023, with a weighted-average fair value of $13.68[176] - The company granted 128,005 performance-based restricted stock units (PBRSUs) during the six-month period ended June 30, 2023[175] Tax and Regulatory Compliance - The effective tax rate remained stable at 21% for both 2023 and 2022, influenced by investments in tax-advantaged assets and state tax credits[199] - The actual tax expense for the three months ended June 30, 2023, was $4.219 million, compared to $4.027 million for the same period in 2022, representing a year-over-year increase of 4.8%[171] - The Company and the Bank met all capital adequacy requirements as of June 30, 2023[172] - As of June 30, 2023, the consolidated total capital to risk-weighted assets ratio was 10.7%, exceeding the required 10.5%[173] - The Company’s Tier I capital to risk-weighted assets ratio was 9.6% for both consolidated and Bank levels as of June 30, 2023[173]

CrossFirst Bankshares, Inc. (NASDAQ:CFB) Q2 2023 Earnings Conference Call July 18, 2023 11:00 AM ET Company Participants Mike Daley - Chief Accounting Officer and Head of Investor Relations Mike Maddox - President and Chief Executive Officer Randy Rapp - President Ben Clouse - Chief Financial Officer Conference Call Participants Brady Gailey - KBW Michael Rose - Raymond James Matt Olney - Stephens Andrew Liesch - Piper Sandler Operator Good day, and welcome to the CrossFirst Bankshares, Inc. Second Quarter ...

2 Non-interest-bearing deposits stabilized, decreasing 4% from Q1 2023 Commercial Loan Breakdown by Type Received regulatory approval for previously announced acquisition of Canyon Bancorporation, Inc., which is expected to add low-cost liquidity and deepen our Arizona franchise Loan Mix by Type ($5.8bn) CROSSFIRST BANKSHARES, INC. NASDAQ: CFB FORWARD-LOOKING STATEMENTS. The financial results in this presentation reflect preliminary, unaudited results, which are not final until the Company's Quarterly Repor ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 For the transition period from ______ to ______ Commission file number 001-39028 CROSSFIRST BANKSHARES, INC. (Exact Name of Registrant as Specified in its Charter) Kansas 26-3212879 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 11440 Tomaha ...

Financial Data and Key Metrics Changes - The company reported adjusted net income of $17.3 million or $0.35 per share for Q1 2023, with GAAP net income at $16.1 million or $0.33 per share, reflecting an increase in net interest income partially offset by higher non-interest expenses [53][60] - Average earning assets increased by $521 million compared to the prior quarter, and the yield on loans increased by 63 basis points [7][61] - The net interest margin (NIM) expanded by four basis points to 3.65% compared to the prior quarter, with expectations for NIM to narrow to a range of 3.40% to 3.55% for the remainder of the year [61][68] Business Line Data and Key Metrics Changes - Total loan growth for the quarter was $270 million, with C&I increasing by $59 million and commercial real estate increasing by $198 million [57] - Non-interest income was reported at $4.4 million for the quarter, with increases across several categories including gain on sale of loans [62] - The company reported net charge-offs of $1.6 million, resulting in a charge-off rate of 8 basis points on an annualized basis [5] Market Data and Key Metrics Changes - Average deposits increased by 8.3% to $5.7 billion, up $439 million from the previous quarter [58] - The percentage of demand deposits decreased to 17% of total deposits, down from 25% at the end of 2022, attributed to clients deploying funds that were previously parked in non-interest bearing accounts [46][99] - The company has significant liquidity of approximately $2.3 billion and has expanded its borrowing capacity at both the FHLB and Federal Reserve [78][105] Company Strategy and Development Direction - The company aims to manage growth with a focus on core deposit growth and has a theme of optimization for 2023, focusing on maximizing investments made to benefit clients and shareholders [67][85] - The company is strategically balancing capital deployment for growth while considering share buybacks, maintaining a conservative approach in light of recent market changes [86][87] - The company continues to focus on maintaining asset quality and adhering to credit standards amidst economic uncertainty [55][98] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's positioning and ability to navigate the dynamic economic environment, emphasizing the importance of maintaining strong relationships with clients [70][97] - The management acknowledged the potential for increased loan spreads due to decreased liquidity in the markets and less competition [98] - The company is closely monitoring economic trends and has minimal exposure in higher impacted areas, with positive job creation and population migration in core markets [100] Other Important Information - The company reported a provision expense of $4.4 million, resulting in a provision to charge-off ratio of 269%, driven primarily by loan growth [59] - The company has a diversified balance sheet with significant liquidity to withstand market volatility and is well-capitalized under all ratios [68][78] - The company was recognized by GALLUP as a 2023 Don Clifton Strengths-Based Culture Award Winner, highlighting its commitment to employee development [96] Q&A Session Summary Question: What is the outlook for loan growth and deposit growth? - Management indicated that loan growth will be managed based on deposit growth, with expectations for both to grow at a rate of 8% to 10% [110] Question: How does the company view share buybacks given the stock's trading below tangible book value? - Management stated that while share buybacks are attractive, the focus will be on maintaining enough capital for growth opportunities [86][112] Question: What are the expectations for NIM and expenses for the remainder of the year? - Management clarified that the NIM guidance of 3.40% to 3.55% and expenses of $35 million to $36 million per quarter are for the remainder of the year [113][115]

Completed the Central bank core systems conversion during the quarter Provisioned $4.4 million during the quarter, largely to support loan growth DIVERSE LOAN PORTFOLIO C&I 36% Owner Occupied Real Estate 9% Energy 3% CRE 44% Residential Real Estate 7% Other 1% ASSET QUALITY PERFORMANCE Classified Assets Classified / Total Capital + ACL + RUC 7 Net Charge-offs (Recoveries) / Average Loans(1) Net charge-offs were 0.09% annualized on a trailing 12-month basis $55.2 $55.8 $55.9 $61.8 $4.9 $5.3 $6.7 $65.1 $8.7 $ ...

Loans to Directors, Executive Officers and Principal Stockholders Community ReinvestmentAct ("CRA") FORM 10-K Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒ Indicate by check mark whether the registrant (1) has filed all report ...