Financial Performance - CrossFirst Bankshares reported a net loss of $3.5 million YTD 2020, compared to a net income of $18.8 million in 2019, impacted by COVID-19 provisioning[8, 23] - Pre-tax, pre-provision net income (PTPP) reached $30.9 million YTD 2020, a 14% increase from $27.2 million in the same period in 2019[8, 24] - Q2 2020 operating revenue grew by 20% compared to Q2 2019[8, 24] - The company reported a Q2 2020 net loss of $7.4 million, or ($0.14) per diluted share, including a $21.0 million loan loss provision and a $7.4 million non-cash goodwill impairment[24] Balance Sheet and Capitalization - Total assets amounted to $5.5 billion as of June 30, 2020[8, 21] - Gross loans totaled $4.413 billion, and deposits reached $4.304 billion[23] - The Common Equity Tier 1 (CET1) capital ratio was 11.99%, and the Total Risk-Based Capital ratio was 13.27%[23] Asset Quality - Non-Performing Assets (NPAs) to Assets ratio was 0.74%[23] - Net Charge-Offs (NCOs) to Average Loans ratio was 1.01%[23] - Reserves to Loans ratio stood at 1.61%, and Reserves to Non-Performing Loans (NPLs) ratio was 189%[23] Strategic Initiatives - The company is focused on organic growth in core markets, leveraging its relationship banking team[17] - CrossFirst is pursuing expansion opportunities through market development, including a new branch in Frisco, TX, opened on July 13, and relocating the Kansas City, MO branch[18] - The bank maintains a branch-lite structure and is heavily invested in technology[18]
CrossFirst Bankshares (CFB) Presents At Raymond James 2020 U.S. Bank Conference