The following is a summary of the CrossFirst Bankshares Inc. (CFB) Q1 2024 Earnings Call Transcript:

Financial Performance:

• CrossFirst Bankshares reported Q1 net income of $18.2 million and earnings per share of $0.36.

• Total assets reached a record $7.5 billion with an 8% growth in loans on an annualized basis.

• The bank experienced an increase in earnings due to strong organic loan and deposit growth, expansion of noninterest income, and stable credit quality.

• Year-over-year, fee income had close to 30% increase and balance sheet growth is expected to be moderate at 2% per quarter.

Business Progress:

• The company was recognized with the Don Clifton Strengths-Based Culture Award for two consecutive years.

• Growth opportunities have been identified in their markets and verticals, with a particular focus on loan growth and quality control.

• The growth in the CRE portfolio is largely attributable to two strategic acquisitions made in the last 18 months.

• Future plans include optimizing operations, leveraging key technology investments, managing expenses and focusing on deposit growth, noninterest income opportunities, and increasing loan yields.

• The bank has embarked on renegotiating its core systems contract for savings and plans to maintain controlled expenses.

• Investments have been made in card, treasury, and SBA functions to drive operating revenue and fee income.

• They maintain a robust credit outlook and underwriting process, and any slowdown in deposit growth might impact loan growth.

More details: CrossFirst Bankshares IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.