The earnings call presented a positive outlook with strong earnings growth, improved credit quality, and significant deposit and loan growth. The company is taking strategic actions to enhance efficiency and shareholder value. However, challenges such as increased deposit costs and high CRE exposure are being addressed.

Company Guidance

During the Q2 2024 earnings call, CrossFirst Bankshares provided comprehensive guidance focusing on key financial metrics and strategic priorities. The company reported an increase in net income to $18.6 million, or $0.37 per diluted share, driven by a 2% growth in operating revenue and improved credit quality metrics. Total assets grew by 2% to $7.6 billion, with total loan growth at $95 million, reflecting a 6% annualized growth rate. The average loan yield on new production was 8.93%, while the loan-to-deposit ratio slightly decreased to 94%. The net interest margin remained stable at 3.20%, with expectations for improvement following potential rate cuts. The company also emphasized strategic capital allocation, maintaining a capital return strategy that included share buybacks at an average price below book value. Additionally, CrossFirst is focused on enhancing its efficiency ratio and driving future growth through investments in new markets and technology. The bank's credit metrics showed improvement, with a decrease in the nonperforming assets to total assets ratio to 22 basis points, and a stable allowance for credit losses ratio at 1.2%.

Earnings Growth and Strong Credit Quality

CrossFirst Bankshares reported earnings growth to $18.6 million, or $0.37 per diluted share. The company maintained strong credit quality with improved credit metrics and reserve levels against lower classified assets and manageable nonperforming balances.

Fee Income Growth

Service charge and credit card revenues grew a combined 17% year-over-year through the first 6 months, contributing to steady performance in fee lines.

Deposit and Loan Growth

Total assets grew to $7.6 billion, a 2% increase from the previous quarter, with significant loan growth in Texas, Colorado, and Arizona markets. Deposits increased 2% to $6.7 billion, up $147 million from the previous quarter.

Improved Efficiency

The company completed a successful negotiation of its core services contract, expecting annual run-rate savings of approximately $2 million.

Share Buyback Program

CrossFirst Bankshares repurchased 237,000 shares at a weighted average cost of $12.78, below the tangible book value per share of $14.02, enhancing shareholder value.

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CrossFirst Bankshares (CFB) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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CFB Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jan 27, 2025	2024 (Q4)	0.43 / -	0.39	―	―	―
Oct 22, 2024	2024 (Q3)	0.40 / 0.43	0.37	16.22% (+0.06)	―	―
Jul 15, 2024	2024 (Q2)	0.34 / 0.37	0.35	5.71% (+0.02)
Apr 15, 2024	2024 (Q1)	0.34 / 0.36	0.35	2.86% (+0.01)
Jan 22, 2024	2023 (Q4)	0.36 / 0.39	0.36	8.33% (+0.03)
Oct 16, 2023	2023 (Q3)	0.32 / 0.37	0.349	6.02% (+0.02)
Jul 17, 2023	2023 (Q2)	0.34 / 0.35	0.335	4.48% (+0.01)
Apr 17, 2023	2023 (Q1)	0.32 / 0.35	0.33	6.06% (+0.02)
Jan 23, 2023	2022 (Q4)	0.32 / 0.36	0.4	-10.00% (-0.04)
Oct 17, 2022	2022 (Q3)	0.34 / 0.35	0.506	-31.03% (-0.16)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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CFB Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 22, 2024	$16.00	$15.88	-0.75%
Jul 15, 2024	$15.94	$17.46	+9.54%
Apr 15, 2024	$12.69	$11.89	-6.30%
Jan 22, 2024	$13.54	$13.60	+0.44%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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