CrossFirst Bankshares, Inc (NASDAQ:CFB) Q2 2020 Earnings Conference Call - Final Transcript

Jul 23, 2020 • 05:00 pm ET


CrossFirst Bankshares, Inc (NASDAQ:CFB) Q2 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by and welcome to the CrossFirst Q2 2020 Earnings Call. [Operator Instructions]

I would now like to hand the conference over to your speaker today, Matt Needham. Thank you. Please go ahead.

Matt Needham

Welcome, and thank you for joining us today. On the call are Mike Maddox, President and CEO; Dave O'Toole, Chief Financial Officer; and Randy Rapp, our Chief Credit Officer. As a reminder, a telephonic replay of this call, along with our earnings release and presentation, will be available on our Investor Relations website for an extended period of time.

Before we begin, let me remind everyone that this call may contain certain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We caution investors that actual results may differ materially from the expectations indicated or implied in our forward-looking information. We provide a comprehensive list of risk factors in our SEC filings, which I highly encourage you to review. Any forward-looking statements apply only as of today, and we undertake no obligation to update them, except as required by applicable securities laws. Reconciliations of non-GAAP financial measures to the nearest comparable GAAP measures are included in the release or presentation, copies of which are available on our Investor Relations website. All earnings share metrics discussed on today's call are provided on a diluted share basis.

I'd now like to turn the call over to our new CEO, Mike Maddox.

Mike Maddox

Thank you, Matt. I'm really excited to be here today at the close of my second month as President and CEO of CrossFirst Bankshares to discuss our results as we continue to navigate the pandemic and associated economic uncertainty. I'd like to wish the best to our employees, customers, shareholders and their families, and hopes that they are staying safe and healthy. CrossFirst Bank is committed to doing all we can to contribute to the health and well-being of the communities in which we serve.

I want to take a moment especially to thank George Jones for his leadership the last few years and for making our leadership transition smooth and successful. As a part of the management succession, Steve Peterson, who has been serving as our President of our Wichita location, has been promoted to Chief Banking Officer and will be located in Kansas City. Steve has consistently performed by managing and growing our Wichita market for over 10 years, and we are happy for the leadership he brings to our Company. He will oversee the revenue-generating portion of the bank, which includes marketing and the oversight of our five markets.

As we begin the next chapter of CrossFirst, we want to build on our foundation and continue to drive responsible and profitable growth. While other banks work on branch rationalization strategies, our branch-light model, relationship banking focus, and technological capabilities have allowed us to efficiently serve our customers throughout the pandemic. Over the next couple of years, our organization will be heavily focused