CrossFirst Bankshares Inc. (CFB) Tops Q4 EPS by 1c

CrossFirst Bankshares Inc. (NASDAQ: CFB) reported Q4 EPS of $0.22, $0.01 better than the analyst estimate of $0.21. Revenue for the quarter came in at $39.4 million versus the consensus estimate of $39.73 million.

"We are pleased to announce our 23rd consecutive quarter of record operating revenue performance," said CrossFirst CEO and President George F. Jones, Jr. “Despite the headwinds of a declining rate environment, we were able to deliver quarterly operating revenue growth through strong balance sheet growth and by maintaining our net interest margin. Doubling our net income year over year is a tremendous success for our Company. We have built a great organization and I am proud of what we have accomplished during the year.”

2019 Fourth Quarter and Full-Year Highlights:

• Approaching $5 billion of assets with 30% operating revenue growth compared to full-year 2018
• Record quarterly net income of $11.4 million, an increase of 10% from the fourth quarter of 2018
• Record full-year net income of $40.6 million, a year-over-year increase of 107%
• Diluted EPS of $0.83 for full-year 2019, a year-over-year increase of 77%
• Achieved efficiency ratios of 55.6% for the quarter and 58.4% for the year
• Grew loans by $223 million from the previous quarter and $793 million or 26% since year-end December 31, 2018
• Grew deposits by $266 million from the previous quarter and $716 million or 22% since year-end December 31, 2018
• Book value per share of $11.80 at December 31, 2019 compared to $10.21 at December 31, 2018

For earnings history and earnings-related data on CrossFirst Bankshares Inc. (CFB) click here.

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