CROSSFIRST BANKSHARES, INC.
crossfirstbank.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q3 FY2024 10-Q, filed Nov 1, 2024. Its latest SEC filing is a 15-12G from Mar 13, 2025.
10-Q for Q3 FY2024, filed Nov 1, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Provides deposit, lending and treasury-management services to businesses, business owners, professionals and consumers.
10-K for FY2023, filed Feb 29, 2024CrossFirst Bankshares, Inc., a Kansas corporation and registered bank holding company (the “Company”), is the holding company for…View ↗
The Bank operates as a regional bank providing a broad offering of deposit and lending products to commercial and consumer clients. The…View ↗
We focus on the following loan categories: (i) commercial and industrial loans, including enterprise value lending; (ii) commercial real…View ↗
We also offer deposit banking products including: (i) personal and business checking and savings accounts; (ii) international banking…View ↗
How Did They Make Money?
The bank earns its largest fee stream from monthly charges on deposit accounts, including maintenance, overdraft and processing fees; charges depend on account type, volume and activity. ATM and card fees follow transaction counts, while international fees are generally paid when a service or transaction is complete.
10-K for FY2023, filed Feb 29, 2024Service charges and fees on client accounts - This category consists of monthly fees for the services rendered on client deposit accounts…View ↗
ATM and credit card interchange income - This category consists of fees charged for use of the Company’s ATMs, as well as an interchange…View ↗
International fees - This category consists of fees earned from foreign exchange transactions and preparation of international…View ↗
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10-K for FY2023, filed Feb 29, 2024
FY2023 revenue by product or service ↗
$15.5M
-
10-K for FY2023, filed Feb 29, 2024
$15.5M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Service charges and fees on client accounts
Recurring
10-K for FY2023, filed Feb 29, 2024 |
53%
FY2020: 34%
|
Service charges and fees on client accounts, FY2023
$8.2M Sources
|
Recurring |
|
ATM and credit card interchange income
Usage-based
10-K for FY2023, filed Feb 29, 2024 |
35%
FY2020: 52%
|
ATM and credit card interchange income, FY2023
$5.5M Sources
|
Usage-based |
|
International fees
Sold outright
10-K for FY2023, filed Feb 29, 2024 |
9.7%
FY2020: 13%
|
International fees, FY2023
$1.5M Sources
|
Sold outright |
|
Other fees
Sold outright
|
2.1%
FY2020: 1.0%
|
Other fees, FY2023
$323K Sources
|
Sold outright |
Who Were Their Customers?
The bank serves businesses, business owners, professionals and consumers through its branch network. Commercial banking teams handle business needs, while consumers can use branches and digital banking.
10-K for FY2023, filed Feb 29, 2024
Did Revenues Turn Into Profits?
Yes. Its net income in FY2023 was larger than its revenue and turned 584 cents into free cash flow.
How Were They Changing?
-
Mar 3, 2025
CrossFirst merged into Busey and its shares were delisted
Busey survived the merger, and CrossFirst common stock was removed from Nasdaq listing.
Sources
8-K, filed Mar 3, 2025
On March 1, 2025, CrossFirst completed its previously announced merger with Busey, pursuant to the Merger Agreement. At the closing of the…View ↗
Grew. Revenue grew 4.8x in 4 years, from $3.2M in FY2019 to $15.5M in FY2023, about 48% a year.
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