CrossFirst Bankshares, Inc. Reports First Quarter 2020 Results
CrossFirst Bankshares, Inc. (CFB)
Last crossfirst bankshares, inc. earnings: 4/23 04:01 pm
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Source: GlobeNewswire
LEAWOOD, Kan., April 23, 2020 (GLOBE NEWSWIRE) -- CrossFirst Bankshares, Inc. (Nasdaq: CFB), the bank holding company for CrossFirst Bank, today reported its results for the first quarter of 2020, including net income of $3.9 million, or $0.07 per diluted share. CrossFirst continued to deliver growth in operating revenue and improve efficiency for the quarter while managing through a declining interest rate environment. During the quarter, the Company's earnings were impacted by a $14.0 million loan loss provision recorded mostly due to increased uncertainty in the portfolio arising from current economic conditions surrounding the COVID-19 pandemic and oil market volatility. "Our overall core performance remains strong, and excluding our provision in the current period, we had one of the Company's strongest quarters. We are on the front end of a possible recession and have taken an additional loan loss provision to strengthen our reserves and help prepare for the potential head
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