3
Forward-Looking Information
All statements contained in this quarterly report on Form 10-Q that do not directly and exclusively
relate to historical facts
constitute forward-looking statements. These statements are often, but not always, made through the
use of words or phrases such as
“may,” “might,” “could,” “predict,”
“potential,” “believe,”
“expect,” “continue,”
“will,”
“anticipate,”
“seek,” “estimate,”
“intend,”
“plan,” “projection,”
“goal,” “target,” “outlook,”
“aim,” “would,” “annualized,” “position”
and “outlook,”
or the negative of these words
or other comparable words or phrases of a future or forward-looking nature. For
example, our forward-looking statements include
statements regarding our business plans, expectations, or opportunities
for growth; the impact of the acquisition of Canyon
Bancorporation, Inc. and Canyon Community Bank, N.A. (collectively
“Canyon”); our expense management initiatives and the results
expected to be realized from those initiatives; our anticipated financial results, expenses,
cash requirements and sources of liquidity; and
our capital allocation strategies and plans.
Unless we state otherwise or the context otherwise requires, references in this Form 10-Q
to “we,” “our,”
“us,” and the
“Company” refer to CrossFirst Bankshares, Inc., and its consolidated subsidiaries. References
in this Form 10-Q to “CrossFirst Bank”
and the “Bank”
refer to CrossFirst Bank, our wholly owned consolidated bank subsidiary.
These forward-looking statements are not historical facts, and are based
on current expectations, estimates and projections about
our industry, management’s beliefs and
certain assumptions made by management, many of which, by their nature,
are inherently
uncertain and beyond our control. Accordingly, we caution you that any such forward-looking statements are not a guarantee
of future
performance and are subject to risks, assumptions, estimates and uncertainties that are
difficult to predict. Although we believe that the
expectations reflected in these forward-looking statements are reasonable
as of the date made, actual results may prove to be materially
different from the results expressed or implied by the forward-looking statements
due to a number of factors, including, without
limitation: impacts on us and our clients of a decline in general business and economic conditions
and any regulatory responses thereto,
including uncertainty and volatility in the financial markets; interest rate
fluctuations; our ability to effectively execute our growth
strategy and manage our growth, including identifying and consummating suitable
mergers and acquisitions, entering new lines of
business or offering new or enhanced services or products; our ability to successfully
integrate Canyon; fluctuations in fair value of our
investments due to factors outside of our control; our ability to successfully
manage credit risk and the sufficiency of our allowance;
geographic concentration of our markets; economic impact on our commercial real estate
and commercial-based loan portfolios,
including declines in commercial and residential real estate values; an increase in
non-performing assets; our ability to attract, hire and
retain key personnel; maintaining and increasing customer deposits, funding availability,
liquidity and our ability to raise and maintain
sufficient capital; competition from banks, credit unions and other financial services
providers; the effectiveness of our risk management
framework; accounting estimates; our ability to maintain effective internal control
over financial reporting; our ability to keep pace with
technological changes; cyber incidents or other failures, disruptions or security breaches; employee
error, fraud committed against the
Company or our clients, or incomplete or inaccurate information about clients and
counterparties; mortgage markets; our ability to
maintain our reputation; costs and effects of litigation; environmental liability; risk exposure
from transactions with financial
counterparties; severe weather, natural disasters, pandemics;
acts of war or terrorism or other external events; changes in laws, rules,
regulations, interpretations or policies relating to financial institutions, including stringent
capital requirements, higher FDIC insurance
premiums and assessments, consumer protection laws and privacy laws; volatility in
our stock price; or risks inherent with proposed
business acquisitions and the failure to achieve projected synergies.
Additional discussion of these and other risk factors can be found in
our Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (“2022 Form 10-K”), filed with the Securities and
Exchange Commission (“SEC”) on March 3, 2023, and in our other filings with the SEC.
Except as required by law, the Company undertakes no obligation to update or
revise forward-looking statements to reflect
changed assumptions, the occurrence of unanticipated events or changes in our business,
results of operations or financial condition over
time. Given these risks and uncertainties, readers are cautioned not to place undue reliance
on such forward-looking statements.