CrossFirst Bankshares, Inc. (CFB): History, Ownership, Mission, How It Works & Makes Money

Ever wondered how CrossFirst Bankshares, Inc. (CFB), a trusted name in commercial banking, operates and generates revenue? As a robust bank holding company, CrossFirst Bankshares provides full-service, relationship-based banking dedicated to businesses, professionals, and families and was even named to the 2024 KBW Bank Honor Roll, placing it among the top 5% of eligible banks in the country.

With the recent merger with First Busey Corporation expected to close in Q1 or Q2 2025, creating a combined entity with approximately $20 billion in total assets, now is the perfect time to delve deeper into CrossFirst Bankshares' history, ownership, mission, and business model.

Keep reading to discover how this Kansas City, Missouri-based company, with reported revenue of $250.66 million in 2024, has strategically positioned itself in the financial sector and what makes it a significant player in the banking industry.

CrossFirst Bankshares, Inc. (CFB) History

CrossFirst Bankshares, Inc. Founding Timeline

Year established

CrossFirst Bank was established in 2007.

Original location

The bank was founded in Leawood, Kansas.

Founding team members

The founding team included:

• Stanley D. Fichman
• George P. Butler
• David L. O'Toole

Initial capital/funding

CrossFirst Bank started with $65 million in initial capital.

CrossFirst Bankshares, Inc. Evolution Milestones

CrossFirst Bankshares, Inc. Transformative Moments

• Strategic Expansion: The bank's strategic decisions to expand into new markets such as Oklahoma City, Texas, and Arizona significantly broadened its geographic footprint and customer base.
• Initial Public Offering (IPO): The IPO in 2019 marked a major milestone, providing capital for further growth and increasing the company's visibility in the financial markets.
• Acquisition of Farmers Bank: This acquisition strengthened CrossFirst Bank's presence in the Kansas market and added to its asset base.
• Focus on Relationship Banking: CrossFirst Bank has consistently emphasized building strong relationships with its clients, which has been a key differentiator and driver of customer loyalty. You can find more about it at: Mission Statement, Vision, & Core Values of CrossFirst Bankshares, Inc. (CFB).

CrossFirst Bankshares, Inc. (CFB) Ownership Structure

CrossFirst Bankshares, Inc. exhibits a mixed ownership structure, featuring a combination of institutional, insider, and retail investors. Understanding this structure is key to grasping the dynamics influencing the company.

CrossFirst Bankshares, Inc.'s Current Status

CrossFirst Bankshares, Inc. is a public company, trading under the ticker symbol CFB on the NASDAQ. This means its shares are available for purchase by the general public, and the company is subject to regulatory oversight and reporting requirements.

CrossFirst Bankshares, Inc.'s Ownership Breakdown

The ownership of CrossFirst Bankshares, Inc. is distributed among various types of shareholders. Here's a breakdown:

CrossFirst Bankshares, Inc.'s Leadership

The leadership team is responsible for the strategic direction and operational management of CrossFirst Bankshares, Inc. Key members include:

• Michael S. Maddox: President and Chief Executive Officer
• Randy Rapp: Chief Financial Officer

These individuals, along with other executive leaders, guide the company's performance and strategic initiatives.

To delve deeper into who is investing in CFB and the motivations behind those investments, read this article: Exploring CrossFirst Bankshares, Inc. (CFB) Investor Profile: Who’s Buying and Why?

CrossFirst Bankshares, Inc. (CFB) Mission and Values

CrossFirst Bankshares, Inc. aims to be more than just a financial institution; it strives to be a trusted partner dedicated to the success of its clients, employees, and communities. The company's mission and values reflect a commitment to integrity, exceptional service, and long-term relationships.

CrossFirst Bankshares, Inc. Core Purpose

Official mission statement

CrossFirst Bankshares, Inc.'s mission statement is: 'To be the most trusted financial partner serving businesses, professionals and their families.'

• This statement emphasizes the bank's focus on building strong, lasting relationships with its clients.
• It highlights a commitment to providing comprehensive financial solutions tailored to the specific needs of businesses, professionals, and their families.
• Trust is positioned as a cornerstone of the bank's approach, underscoring its dedication to ethical practices and reliable service.

Vision statement

While a specific, formally declared vision statement is not readily available in recent public disclosures, CrossFirst Bankshares, Inc.'s actions and communications suggest a vision centered on:

• Expanding its presence and influence in key markets through strategic growth and partnerships.
• Being recognized as a leading provider of innovative financial solutions and personalized service.
• Cultivating a high-performance culture that attracts, develops, and retains top talent in the banking industry.

For further insights into CrossFirst Bankshares, Inc.'s financial standing, see Breaking Down CrossFirst Bankshares, Inc. (CFB) Financial Health: Key Insights for Investors.

Company slogan/tagline

CrossFirst Bank uses the tagline 'Banking Made Personal.'

• This tagline reflects the bank's commitment to providing personalized service and building strong relationships with its clients.
• It emphasizes the importance of understanding each client's unique needs and goals.
• The slogan suggests a focus on creating a more human and approachable banking experience.

CrossFirst Bankshares, Inc. (CFB) How It Works

CrossFirst Bankshares, Inc. operates as a bank holding company for CrossFirst Bank, providing a range of banking and financial services to businesses, professionals, and individuals.

CrossFirst Bankshares, Inc.’s Product/Service Portfolio

CrossFirst Bankshares, Inc.’s Operational Framework

CrossFirst Bank operates with a focus on building strong relationships with its clients, offering tailored financial solutions, and providing exceptional customer service. The bank's operational framework includes:

• Relationship-focused Banking: Building long-term relationships with clients by understanding their unique needs and providing customized solutions.
• Credit Underwriting: Assessing creditworthiness and managing risk through thorough underwriting processes.
• Deposit Gathering: Attracting and retaining deposits through competitive rates, convenient access, and superior customer service.
• Technology Integration: Leveraging technology to enhance operational efficiency, improve customer experience, and expand service offerings.
• Compliance and Risk Management: Ensuring compliance with regulatory requirements and managing risk through robust risk management practices.

Additional insights can be found here: Mission Statement, Vision, & Core Values of CrossFirst Bankshares, Inc. (CFB).

CrossFirst Bankshares, Inc.’s Strategic Advantages

CrossFirst Bank possesses several strategic advantages that contribute to its success in the competitive banking industry:

• Experienced Leadership: A strong management team with extensive experience in banking and financial services.
• Strong Capital Base: Maintaining a solid capital position to support growth and withstand economic downturns. In the 2024 fiscal year, CrossFirst Bankshares reported total assets of $7.84 billion and total deposits of $6.64 billion.
• Strategic Locations: Operating in attractive markets with strong growth potential.
• Diversified Revenue Streams: Generating revenue from a variety of sources, including commercial banking, private banking, and wealth management. For the year 2024, CrossFirst Bankshares reported net income of $60.3 million.
• Commitment to Technology: Investing in technology to improve efficiency, enhance customer experience, and drive innovation.

CrossFirst Bankshares, Inc. (CFB) How It Makes Money

CrossFirst Bankshares, Inc. primarily generates revenue through its commercial banking activities, focusing on lending and deposit services tailored to businesses and professionals.

CrossFirst Bankshares, Inc.'s Revenue Breakdown

While precise percentage breakdowns of revenue streams for CrossFirst Bankshares, Inc. as of April 2025 are not available in the provided search results, we can discuss the typical revenue streams for a commercial bank and their general trends.

CrossFirst Bankshares, Inc.'s Business Economics

Here are key aspects of the company's business economics:

• Net Interest Margin (NIM): This is a critical profitability metric for banks. It represents the difference between the interest income generated from loans and investments and the interest paid on deposits and borrowings. A higher NIM indicates greater profitability.
• Loan Portfolio Composition: The types of loans a bank holds (commercial, real estate, consumer) influence its risk profile and potential returns. Diversification can mitigate risk.
• Cost of Funds: The interest rates a bank pays on its deposits and borrowings impact its profitability. Managing these costs effectively is essential.
• Operating Efficiency: A bank's efficiency ratio (operating expenses as a percentage of revenue) indicates how well it manages its overhead. Lower ratios are generally better.

CrossFirst Bankshares, Inc.'s Financial Performance

Key elements influencing the financial performance of CrossFirst Bankshares, Inc. include:

• Asset Quality: Monitoring non-performing assets (loans that are not being repaid) is crucial. High levels of non-performing assets can negatively impact profitability.
• Capital Adequacy: Banks must maintain adequate capital levels to absorb potential losses. Regulatory requirements dictate minimum capital ratios.
• Earnings Growth: Consistent earnings growth is a sign of a healthy and well-managed bank. Investors often look for trends in revenue, net income, and earnings per share.
• Market Conditions: Economic factors such as interest rates, inflation, and unemployment can significantly impact a bank's performance.

For more insights into CrossFirst Bankshares, Inc., check out: Exploring CrossFirst Bankshares, Inc. (CFB) Investor Profile: Who’s Buying and Why?

CrossFirst Bankshares, Inc. (CFB) Market Position & Future Outlook

CrossFirst Bankshares, Inc. (CFB) is strategically positioned to leverage its strong regional presence and client-focused approach to capitalize on emerging market opportunities, while also navigating potential industry headwinds.

Competitive Landscape

Here's an overview of CrossFirst Bankshares, Inc.'s (CFB) competitive standing:

Opportunities & Challenges

CrossFirst Bankshares, Inc. (CFB) faces both opportunities and risks that will shape its future performance:

Industry Position

CrossFirst Bankshares, Inc. (CFB) maintains a solid standing within the competitive banking sector, characterized by:

• A focus on serving the financial needs of middle-market businesses and high-net-worth individuals.
• A commitment to delivering personalized service and building long-term client relationships.
• Strategic investments in technology to enhance its digital banking capabilities and operational efficiency.

To gain deeper insights into the company's financial health, explore: Breaking Down CrossFirst Bankshares, Inc. (CFB) Financial Health: Key Insights for Investors