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: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.