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Initial Public OfferingNASDAQ: CFBAugust 2019 Free Writing Prospectus Filed Pursuant to Rule
433Registration Statement No. 333-232704 Dated August 5, 2019
2 Disclaimer NO OFFER OR SOLICITATION. CrossFirst Bankshares, Inc. (the "Company" or "CrossFirst")
has filed a registration statement (including a prospectus, which is preliminary and subject to change) with the U.S. Securities and Exchange Commission (the “SEC”) for the offering to which this presentation relates. Before you invest in any
securities, you should read the prospectus in that registration statement and the other documents CrossFirst has filed with the SEC for more complete information about CrossFirst and the offering. You may obtain these documents for free by
visiting EDGAR on the SEC website at www.sec.gov. Alternatively, CrossFirst, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by contacting Keefe, Bruyette & Woods,
Inc., toll-free at (800) 966-1559, Raymond James & Associates, Inc., toll-free at (800) 248-8863, or Stephens Inc., toll-free at (800) 643-9691. CrossFirst is not soliciting an offer to buy securities in any jurisdiction where the offer
or sale is not permitted. Neither the SEC nor any state securities commission has approved or disapproved of the securities of CrossFirst or passed upon the accuracy or adequacy of this presentation. Any representation to the contrary is a
criminal offense. CrossFirst's common stock is not a deposit or savings account of CrossFirst's bank subsidiary and is not insured by the Federal Deposit Insurance Corporation or any other governmental agency or
instrumentality.FORWARD-LOOKING STATEMENTS. This presentation and oral statements made during this meeting contain forward-looking statements. These forward-looking statements reflect our current views with respect to, among other things,
future events and our financial performance. These statements are often, but not always, made through the use of words or phrases such as "may," "might," "should," "could," "predict," "potential," "believe," "expect," "continue," "will,"
"anticipate," "seek," "estimate," "intend," "plan," "strive," "projection," "goal," "target," "outlook," "aim," "would," "annualized" and "outlook," or the negative version of those words or other comparable words or phrases of a future or
forward-looking nature. 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 guarantees 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. There are or will be important factors that could cause our actual results to differ materially from those indicated in these forward-looking statements, including, but not limited to,
the following: risks related to general business and economic conditions and any regulatory responses to such conditions; our ability to effectively execute our growth strategy and manage our growth, including identifying and consummating
suitable mergers and acquisitions; the geographic concentration of our markets; fluctuation of the fair value of our investment securities due to factors outside our control; our ability to successfully manage our credit risk and the
sufficiency of our allowance; regulatory restrictions on our ability to grow due to our concentration in commercial real estate lending; our ability to attract, hire and retain qualified management personnel; interest rate fluctuations; our
ability to raise or maintain sufficient capital; competition from banks, credit unions and other financial services providers; the effectiveness of our risk management framework in mitigating risks and losses; our ability to maintain
effective internal control over financial reporting; our ability to keep pace with technological changes; system failures and interruptions, cyber-attacks and security breaches; employee error, fraudulent activity by employees or clients and
inaccurate or incomplete information about our clients and counterparties; our ability to maintain our reputation; costs and effects of litigation, investigations or similar matters; risk exposure from transactions with financial
counterparties; severe weather, acts of god, acts of war or terrorism; compliance with governmental and regulatory requirements; changes in the laws, rules, regulations, interpretations or policies relating to financial institutions,
accounting, tax, trade, monetary and fiscal matters; compliance with requirements associated with being a public company; level of coverage of our business by securities analysts; and future equity issuances.Any forward-looking statement
speaks only as of the date on which it is made, and we do not undertake any obligation to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by
law.NON-GAAP FINANCIAL INFORMATION. This presentation contains certain non-GAAP measures. These non-GAAP measures, as calculated by CrossFirst, are not necessarily comparable to similarly titled measures reported by other companies.
Additionally, these non-GAAP measures are not measures of financial performance or liquidity under GAAP and should not be considered alternatives to the Company's other financial information determined under GAAP. See the Appendix for
reconciliations of certain non-GAAP measures. MARKET AND INDUSTRY DATA. This presentation references certain market, industry and demographic data, forecasts and other statistical information. We have obtained this data, forecasts and
information from various independent, third party industry sources and publications. Nothing in the data, forecasts or information used or derived from third party sources should be construed as advice. Some data and other information are
also based on our good faith estimates, which are derived from our review of industry publications and surveys and independent sources. We believe that these sources and estimates are reliable but have not independently verified them.
Statements as to our market position are based on market data currently available to us. Although we are not aware of any misstatements regarding the economic, employment, industry and other market data presented herein, these estimates
involve inherent risks and uncertainties and are based on assumptions that are subject to change.
3 Offering Summary Issuer Ticker / Exchange Base Offering Size Filing Range Base
Shares Offered Overallotment Option Pro Forma Market Capitalization Lock-Ups Use of Proceeds Joint Bookrunning Managers Expected Pricing Date Co-Manager CrossFirst Bankshares, Inc. CFB / Nasdaq Global Select 180 days
for the company, executive officers, directors and certain pre-IPO stockholders General corporate purposes, including maintenance of required regulatory capital and to support future growth Keefe, Bruyette & Woods, A Stifel Company |
Raymond James | Stephens Inc. Sandler O’Neill + Partners, L.P. Week of August 12th $114 million total, comprised of $92 million primary and $22 million secondary(based on the midpoint of range and excluding the overallotment
option) $15.00 – $17.00 per share 7,111,589 total, comprised of 5,750,000 primary and 1,361,589 secondary shares 15% (all primary shares) $818 million (based on the midpoint of range and excluding the overallotment option)
4 Significant Experience in Management Presenters George F. Jones Jr. – President, CEO
and Director of CrossFirst Joined CrossFirst in 2016 after a short retirement from Texas Capital Bancshares, Inc. (TCBI)Founding executive of TCBI in 1998Led TCBI through 50 consecutive profitable quarters and growth to $12 billion in
assets Other Senior Executives Mike Maddox – President, CEO of CrossFirst Bank and Director of CrossFirst Joined CrossFirst in 2008 after serving as Kansas City regional president for Intrust BankPracticing lawyer for more than six years
before joining Intrust BankGraduate School of Banking at the University of Wisconsin - Madison David O’Toole – CFO, Chief Investment Officer and Director of CrossFirst, CFO of CrossFirst Bank More than 40 years of experience in banking,
accounting, valuation and investment bankingFounding shareholder and director of CrossFirst Bank and became CFO in 2008Co-founder and managing partner of a national bank consulting and accounting firmServed on numerous boards of directors of
banks and private companies, including the Continental Airlines, Inc. travel agency advisory board Randy Rapp – Chief Credit Officer of CrossFirst Bank More than 30 years of experience in banking, primarily as a credit analyst,
commercial relationship manager and credit officerJoined CrossFirst in April 2019 after serving as Executive Vice President and Chief Credit Officer of Texas Capital Bank, National Association from May 2015 until March 2019Mr. Rapp joined
Texas Capital Bank in 2000 Matt Needham – Director of Strategy and Investor Relations of CrossFirst More than 15 years in banking, strategy, accounting and investment banking, five with CrossFirstDeep experience in capital markets including
valuation, mergers, acquisitions and divestituresProvided assurance and advisory services with Ernst & YoungFormer Deputy Bank Commissioner in Kansas and has served on several bank boardsMBA Wake Forest University, obtained CFA
designation and CPA, Graduate School of Banking at the University of Colorado Amy FaussChief Operating Officer of CrossFirst Bank28+ years of banking experience Joined CrossFirst in 2009 Tom RobinsonChief Risk Officer of CrossFirst 35+
years of banking experience Joined CrossFirst in 2011 Aisha ReynoldsGeneral Counsel of CrossFirst and CrossFirst Bank13+ years of experience Joined CrossFirst in 2018 David WilliamsDallas President of CrossFirst Bank 30+ years of experience
Joined CrossFirst in 2016 Approximately 21% ownership amongst the Board, executive management, advisory board members and our employee partners Directors and executive officers current ownership:10.36%
5 As of June 30, 2019.Dollars are in millions.Represents a non-GAAP financial measure. See Non-GAAP
Reconciliation slides in Appendix for additional detail. CrossFirst Overview ng the Financial Highlights (As of and for the Six Months Ended 6/30/19)(2) Assets: $4,473 Stated / Core ROAA(3): 0.88% / 0.83% NPAs /
Assets: 1.18% Gross Loans: $3,467 Stated / Core ROACE(3): 7.87% / 7.43% NCOs / Avg. Loans: 0.04% Deposits: $3,584 Stated / Core Efficiency Ratio(3): 62.1% / 61.7% Reserves / Loans: 1.24% Tier 1 Leverage: 10.87% NIM
(FTE): 3.40% Reserves / NPLs: 85.2% $4.5 billion(1) asset banking operation founded in 2007Branch-lite structure operating 7 branches in key markets alo g the I-35 corridor3rd largest bank headquartered in the Kansas
City MSAHigh-growth commercial banking franchiseHigh quality people, strong culture & relationship-orientedbusiness modelServing businesses, business owners, professionals and their personal networksCore focus on improving profitability
& operatingefficiency
6 Our Locations Dallas, TX Leawood, KS (HQ) Oklahoma City, OK Wichita,
KS Tulsa, OK Leawood, KS Kansas City, MO* * Kansas City branch will be relocated to a new location (as depicted in picture), planned to open in 2020.
7 Our Strategic Approach Attract and develop highest level of talentServe businesses, business
owners, professionals and their personal networksFocus on core markets; grow organically using a “Relationship Banking” modelMaintain branch-lite model with strategically placed locationsImprove profitability and operating
efficiencySelectively pursue opportunities to expand through acquisitions and new market developmentExecute on our high-tech, high-touch banking strategyLeverage technology to provide a high level of convenienceEmploy effective enterprise
risk managementDevelop niche lending verticals: Energy (2014), Enterprise Value Lending (2017), Relational Tribal Nations Lending (2017), Relational High Volume Builder Lending (2017)
8 Our History and
Growth $22 $77 $155 $311 $355 $565 $2,961$2,133$1,574$1,220$847 $4,107 $4,473 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Q2 2019 Total
Assets 2012Expansion into Wichita and Oklahoma City markets 2014Expansion into Energy Lending 2016George F. Jones Jr. joins as Vice Chairman as part of expansion into Dallas market 2010Acquired Leawood, KS-based
Leawood Bancshares (~$72.5mm in Total Assets) 2007Established with initial presence in Kansas City 2018George F. Jones Jr. named CEO of CrossFirst Bankshares, Inc. 2008Formed CrossFirst Bankshares, Inc. Dollars in chart are in
millions. 2017Expansion into Enterprise Value Lending, Relational Tribal Nations Lending and Relational High Volume Builder Lending Since Since 2007 2012 Total Assets 58.5% 37.5% Compound Annual Growth Rates 2013Expansion
into Tulsa market through acquisition of Tulsa National Bancshares, Inc. (~$160mm in Total Assets)
9 As of 6/30/19 (unless otherwise noted) Kansas City Wichita Oklahoma
City Tulsa Dallas U.S. Entered Market 2007 2012 2012 2013 2016 2014 -- Loans ($mm) $1,091 $394 $243 $489 $873 $386 -- Deposits ($mm) $1,731 $518 $351 $520 $404 $60 -- Total Deposits in MSA(2)
($bn) $57.4 $15.7 $30.5 $25.5 $271.0 -- -- Number of Branches 3 1 1 1 1 -- -- Deposits per Location ($mm) $577 $518 $351 $404 -- -- Deposit per Location Rank for Banks in MSA(2) #1 #1 #3 #1 #8 -- -- Market
Demographics(4) Population (mm) 2.2 0.6 1.4 1.0 7.6 -- 329.2 Population Change 2010 - 2019 (%) 7.4 2.7 12.3 6.7 17.9 -- 6.6 Projected Population Change 2019 - 2024 (%) 3.5 1.6 5.1 3.6 7.7 -- 3.6 May 2019 Unemployment
Rate (%) 3.1 3.5 2.9 3.1 2.7 -- 3.8 Median Household Income $66,838 $56,619 $59,019 $54,700 $69,458 -- $63,174 Energy
(Tulsa)(1) Dynamic Market Footprint $580(3) Our energy lending group is based in Tulsa but lends across multiple geographies.Source: S&P
Global Market Intelligence as of June 30, 2018 and is pro forma to reflect pending or recently completed acquisitions as of 7/25/19.Tulsa’s deposits per location include Energy deposits of $60mm.Source: S&P Global Market Intelligence and
Bureau of Labor Statistics.
10 High Growth Loan Portfolio Our loan growth has been nearly all organic and we continue to see
abundant opportunities within our existing markets Diversification remains a core tenet Purchased loan participations totaled $103.0 million and a combination of shared national credits and syndications purchased totaled $270.2 million
at Q2 2019Generally buy only portions of participations or syndicated loans with borrowers with whom we could lead next lending opportunity Unfunded commitments totaled$1.5 billion at Q2 2019, 41% of which are commitments to fund C&I
loans and 59% are other loan commitments Commentary Gross Loans (Net of Unearned
Income) $785 $993 $1,297 $1,996 $3,061 $3,467 $0 $1,000 $2,000 $3,000 $4,000 2014 2015 2016 2017 2018 Q2 2019 Unfunded
Commitments(1) $335 $385 $571 $1,155 $1,365 $1,509 $0 $400 $800 $1,200 $1,600 $2,000 2014 2015 2016 2017 2018 Q2 2019 Dollars in charts are in millions. Amounts shown are as
of the end of the period.(1) Unfunded commitments include commitments to fund C&I loans and other loan commitments.
11 Commercial & Industrial 36% Commercial Real Estate 28% Construction and Land
Development 13% Residential Real Estate 10%Energy 11% Other 1% Land Development 2% Other 2% Retail 15% Hotel 13% Industrial 13% Office 13% 1-4 Family Residential Construction 11% Multi-Family 16% Raw Land
5%Senior Living 4% C-Store 3% Medical 3% Virginia 2% Remaining 14 States 13% Texas 38% Kansas 14% Oklahoma 12% Missouri 9% Colorado 7% Arizona 3% Florida 2% Insurance 2% Health
Care 12% Real Estate Activity8%Recreation 8% Business Loans to Individuals 7% Engineering & Contracting 5% Security Services 6% Manufacturing 6%Motor Vehicle & Parts Dealers5% Retail & Leasing Services 4%Restaurants
4% 5% Merchant Wholesalers 4%Aircraft Professional & Technical Services4% Administrative Services3%Other 17% Diverse Loan Portfolio by Type & Geography(1) Loan Mix by Type* ($3.5bn) C&I Loan Breakdown by Type
($1.3bn) CRE Loans by Geography ($968mm)(2) CRE Loan Portfolio by Segment ($968mm)(2) * Numbers do not add to 100% due to rounding.Data as of June 30, 2019.CRE as defined by regulators (including construction and development).Shown
as a percentage of bank capital. CRE / Capital: 234%(3) Construction / Capital: 91%(3)
12 Asset Quality Formula and Trends Credit quality has remained strong since inceptionIn 2017, the
Bank experienced one significant charge-off of approximately$5 million (0.34% of average loans) on one C&I creditIncrease in Q2 NPAs from one loan negatively impacted by a law change17.5% reserve allocation on creditAs of June 30, 2019,
our Reserves / Loans were 1.24% and our Reserves / NPLs were 85.22% Commentary 0.27% 0.08% 0.20% 0.18% 0.43% 1.18% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 2014 2015 2016 2017 2018 Q2
2019 Net Charge-Offs / Average Loans 0.02% 0.04% 0.11% 0.44% 0.07% 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% 2014 2015 2016 2017 2018 YTD 6/30/19 (1) Ratio is annualized. Pillars of
CrossFirst Asset Quality Proven and comprehensive credit policy and proceduresHighly competent and experienced bankersEffective credit administration processCommitment to diversificationDisciplined and standardized underwritingProactive
problem asset managementDecisive response to market opportunities Nonperforming Assets / Assets 0.04%(1)
13 Savings & MMA 46% TimeDeposits ≤$100,000 15% Time Deposits >$100,000 21% DDA
14% Transaction Deposits 4% Kansas City 48% Wichita 15% Tulsa(3) 16% Oklahoma City 10% Dallas 11% Growing Core Funding Base CrossFirst has generated significant growth in core deposits with modest reliance on wholesale
funding Strategic focus on non-interest bearing deposits and treasury services led by an exceptional group of business and private bankers Brokered deposits of 11.1% of total deposits at June 30, 2019 are utilized to minimize interest rate
risk Commentary Total Deposits(1) $962 $1,295 $1,694 $2,303 $3,208 $3,584 $4,000$3,500$3,000$2,500$2,000$1,500$1,000$500$0 2014 2015 2016 2017 2018 Q2 2019 Deposit Mix by
Geography(2) Deposit Mix by Type(2) Dollars are in millions. (1) Amounts shown are as of the end of the period. (2)(3) Data as of June 30, 2019.Tulsa’s deposits include Energy deposits of $60mm. Our energy lending group is
based in Tulsa but lends across multiple geographies.
14 Net Interest Margin Trends Focus on commercial lending increases the asset sensitivity of our
balance sheet, with approximately 74% floating rate loans or maturing within one year NIM improvement experienced in 2017 was impacted slightly by the tax law change Commentary Yield on Loans and Cost of Total
Deposits 5.01% 4.62% 4.60% 4.89% 5.34% 5.18% 5.70% 0.88% 0.91% 0.87% 0.99% 1.44% 1.31% 1.98% 0.00% 2.00% 4.00% 6.00% 2014 2015 2016 2017 2018 YTD 6/30/18 YTD
6/30/19 Yield on Loans Cost of Total Deposits 3.40% 3.27% 3.24% 3.40% 3.39% 3.28% 3.40% 3.00%2.00%1.00%0.00% Net Interest Margin (FTE)4.00% 2014 2015 2016 2017 2018 YTD
6/30/18 YTD 6/30/19
15 Improving Profitability and Operating Efficiency Since 2010, CrossFirst has invested in talent
and acquisitions to grow its market presence and expand into several new products, such as energy lendingIn Q2 2018, we shifted to a focus on earnings, while still maintaining strong balance sheet growthWe now have four quarters of
performance under new profitability- focused initiativeA branch-lite approach should continue to drive operating leverage and scaleProfitability in the first half of 2018 was impacted by several factors, including:The Company’s start-up
investment in the Dallas marketAdditional personnel required to execute Company-wide plansA number of expense reduction strategies have been implemented, which have contributed to an improved efficiency ratioThe Company’s utilization of
automation, technology and repeatable processes will continue to drive efficiencies Commentary Return on Average Assets(1) 0.03% 1.06% 0.50% 0.70% 0.72% 0.67% 0.91% 0.78% 0.86%
0.89% 1.50%1.20%0.90%0.60%0.30%0.00% Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 ROAA Core ROAA Efficiency Ratio 92.3% 60.2% 72.3% 65.9% 65.5% 62.6% 64.2% 64.2% 60.1%
59.4% 120.0%100.0%80.0%60.0%40.0%20.0%0.0% Q2 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2018Efficiency Ratio Ratios are annualized.Represents a non-GAAP financial measure. See Non-GAAP Reconciliation slides in Appendix for additional
detail. (2) Core Efficiency Ratio(2)
16 YTD ‘18 – YTD ‘19Growth:
36.0% $33.0 $44.6 $57.5 $78.5 $116.5 $52.8 $71.8 $140.0$120.0$100.0$80.0$60.0$40.0$20.0$0.0 $4.1 $7.5 $10.3 $3.9 $0.4 $4.0 ($1.0) $9.7 $19.9 $6.9 $17.7 $30.0$25.0$20.0$15.0$10.0$5.0$0.0
($5.0) Core Operating Income Core Operating Income Adjustments (net) Consistent Operating Revenue and Income Growth with Focus on Shareholder Returns Dollars in charts are in millions.Defined as net interest
income + noninterest income.Represents a non-GAAP financial measure. See Non-GAAP Reconciliation slides in Appendix for additional detail. YTD ‘18 – YTD ‘19Growth: 158.7% Operating Revenue(1) Core Operating Income(2) Our balance
sheet growth, combined with holding a steady net interest margin, has enabled robust operating revenue growth Company redeemed all preferred shares in Q1 2019, which was accretive to EPS Historical growth has required significant building
of the provision that impacted earnings (approximately $44 million over five years) Tangible book value per share CAGR from 2014 to Q2 2019 of 15.8%(2) Commentary
17 Strategic Investing & Growing Profitability Focus on robust organic growth strategy in our
core markets of Kansas City, Wichita, Oklahoma City, Tulsa & Dallas to elevate franchise in placeDallas rapid development phase with exceptional growth but requires additional time to achieve desired profitabilityMaintain superior asset
qualitySelectively pursue opportunities to expand through acquisition or branch expansionOpportunistically pursue expansion efforts in adjacent metropolitan areas or in core markets to create value above and beyond a strong organic growth
modelCurrently evaluating a potential branch in the Frisco, TX(1) marketMaintain branch-lite structure in our marketsGrow with banking teams with people who are proficient and knowledgeable of ourcurrent target client base and fit our culture
of quality growthMaintain earnings growth momentum of the franchise to improve profitability to peer levels and leverage scale potential of current investments (1) We do not have any current plans to establish any other new bank branches.
18 Investment Highlights Experienced and Invested Leadership Established Presence in
Attractive Markets Scalable Infrastructure Designed to Accommodate Significant Growth Customer Base Consists of Sophisticated Businesses and their Owners At Inflection Point of Turning Robust Balance Sheet Growth into Earnings
Growth Sophisticated Suite of Banking Services to Facilitate Full-Service Commercial Relationships Specialized Lending Verticals Disciplined Underwriting and Standardized Credit
Administration
Appendix
20 Securities Portfolio At Q2 2019, the duration of the portfolio was approximately 4.4 years and
fully taxable equivalent yield was 3.42% during Q2 2019 During Q2 2019, new securities were purchased with an average FTE yield of 3.03% Commentary Investment Portfolio Breakout as of June 30, 2019(1) CMO 23% MBS 21% Municipal
55% Other 1% 3.69% 3.72% 3.63% 3.85% 3.62% 3.64% 3.51% 3.00%2.00%1.00%0.00% 4.00% Average Yield on Securities (FTE)5.00% 2014 2015 2016 2017 2018 YTD 6/30/18 YTD 6/30/19 (1)
Based on approximate fair value. Total: $704.8M(1)
21 Pro Forma Capitalization As of June 30, 2019 (dollars in thousands) Actual Pro Forma As
Adjusted(1) Borrowings and repurchase agreementsStockholders' Equity:Common stock, par value $0.01 per share Preferred stock, par value $0.01 per share $ 364,246453- $ 364,246511- Additional
paid-in-capital 430,347 514,810 Accumulated other comprehensive income 13,579 13,579 Retained earnings 54,899 54,899 Other (83) (83) Total stockholders' equity $ 499,195 $ 583,715 Capital Ratios: Total
stockholders' equity to total assets 11.2% 12.8% Tangible common equity to tangible assets(2) 11.0% 12.7% Common equity tier 1 capital ratio 11.0% 12.9% Tier 1 leverage ratio 10.9% 12.6% Tier 1 risk-based capital
ratio 11.0% 13.0% Total risk-based capital ratio 12.0% 13.9% Per Share Data: Book value per share $11.00 $11.42 Tangible book value per share(2) $10.83 $11.27 Assumes 5,750,000 base primary shares offered at the
midpoint of the range, 6.50% underwriting spread and $1.5M in other offering expenses for $84.5M in net proceeds. For regulatory purposes, net proceeds are assumed to be risk-weighted at 20%.Represents a non-GAAP financial measure. See
Non-GAAP Reconciliation slides in Appendix for additional detail.
22 As of or for the Year Ended December 31, 2014 2015 2016 2017 2018 As of or for the Six
Months Ended June 30,2018 2019 $39,320 $54,116 $69,069 $97,816 $156,880 $69,037 $105,509 8,230 11,849 15,016 22,998 46,512 19,952 37,030
31,0903,9151,904 42,2675,9752,365 54,0536,5003,407 74,81812,0003,679 110,36813,5006,083 49,0856,0003,703 68,4795,7003,317 24,640 30,562 40,587 62,089 85,755 4,439 8,095 10,373 4,408 17,196 45,714 44,591 1,074 21,505 296 626 62
(1,441) (2,394) 4,143 7,469 10,311 5,849 19,590 (1,828) 2,716 2,902 18,789 1,485 2,066 2,100 2,100 2,100 1,050 175 2,6584,143 5,4037,469 8,21110,311 3,7499,716 17,49019,940 1,8526,859 18,61417,743 $18,084
375,039785,1939,9058,2011,220,28192,332961,623115,24128,614137,098 $79,418 460,542992,72615,5268,1001,574,346123,4301,294,812112,43030,000160,004 $155,972 593,0121,296,88620,7867,9982,133,106198,0881,694,301216,70930,000214,837 $130,820
703,5811,996,02926,0917,8972,961,118290,9062,303,364357,83730,000287,147 $216,541 663,6783,060,74737,8267,7964,107,215484,2843,208,097388,39130,000490,336 $235,036
812,2472,357,83030,1977,8463,549,126473,9042,805,285387,54330,000342,537 $141,373 704,7763,467,20442,8527,7454,473,182511,8373,584,136364,2460499,195 (Dollars in thousands, except per share data)Income Statement DataInterest income Interest
expense Net interest incomeProvision for loan losses Non-interest income Non-interest expenseIncome before taxesIncome tax expense (benefit) Net incomePreferred stock dividendsNet income available to common stockholders Non-GAAP core
operating income(1)Balance Sheet DataCash and cash equivalents Available-for-sale securitiesGross loans (net of unearned income) Allowance for loan lossesGoodwill and other intangibles Total assetsNon-interest-bearing deposits Total
depositsBorrowings and repurchase agreements Preferred Stock, liquidation valueTotal Stockholders' EquityShare and Per Share Data: Basic earnings per share Diluted earnings per share Book value per shareTangible book value per share(1)Wtd.
avg. common shares out. - basicWtd. avg. common shares out. - diluted Shares outstanding at end of period $0.17 0.176.065.6015,381,95015,611,95017,908,862 $0.29 0.286.616.2018,640,67819,378,29019,661,718 $0.39
0.397.347.0220,820,78421,305,87425,194,872 $0.12 0.128.388.1230,086,53030,963,42430,686,256 $0.48 0.4710.2110.0436,422,61237,492,56745,074,322 $0.06 0.068.808.5831,950,41433,176,00835,496,278 $0.41
0.4011.0010.8345,165,24846,159,82545,367,641 Historical Financials Historic share counts and per share figures reflect 2:1 stock split effected on 12/21/18.(1) Represents a non-GAAP financial measure. See Non-GAAP
Reconciliation slides in Appendix for additional detail.
23 As of or for the Year Ended December 31, 2014 2015 2016 2017 2018 As of or for the Six
Months Ended June 30,2018 2019 Selected Ratios: Credit Quality Ratios: Return on average assets(1) 0.41% 0.53% 0.56% 0.24% 0.56% 0.18% 0.88% Non-GAAP core operating return on average
assets(1)(2) 0.41 0.53 0.56 0.40 0.57 0.43 0.83 Return on average common equity(1) 3.08 4.60 5.51 1.53 5.34 1.41 7.87 Non-GAAP core operating return on average
commonequity(1)(2) 3.08 4.60 5.51 3.11 5.45 4.41 7.43 Yield on earning assets - tax equivalent(3) 4.25 4.14 4.08 4.37 4.77 4.57 5.21 Yield on securities - tax equivalent(3) 3.69 3.72 3.63 3.85 3.62 3.64 3.51 Yield on
loans 5.01 4.62 4.60 4.89 5.34 5.18 5.70 Cost of funds 0.92 0.94 0.91 1.06 1.49 1.37 1.97 Cost of interest-bearing deposits 0.98 1.01 0.96 1.12 1.71 1.52 2.31 Cost of total
deposits 0.88 0.91 0.87 0.99 1.44 1.31 1.98 Net interest margin - tax equivalent(3) 3.40 3.27 3.24 3.40 3.39 3.28 3.40 Non-interest expense to average assets 2.45 2.17 2.21 2.53 2.45 2.84 2.10 Efficiency
ratio(4) 74.68 68.48 70.64 79.10 73.64 86.60 62.11 Non-GAAP core operating efficiency ratio(2) 74.68 68.48 70.64 77.23 69.47 76.09 61.74 Non-interest-bearing deposits to total
deposits 9.60 9.53 11.69 12.63 15.10 16.90 14.28 Loans to deposits 81.65 76.67 76.54 86.66 95.41 84.06 96.74 Allowance for loans losses to total loans 1.26% 1.56% 1.60% 1.30% 1.23% 1.28% 1.24% Nonperforming assets to
total assets 0.27 0.08 0.20 0.18 0.43 0.46 1.18 Nonperforming loans to total loans 0.41 0.12 0.33 0.27 0.58 0.69 1.45 Allowance for loans losses to nonperforming
loans 310.43 1,336.38 493.14 481.68 212.30 185.25 85.22 Net charge-offs to average loans(1) 0.02 0.04 0.11 0.44 0.07 0.18 0.04 Capital Ratios: Total stockholders' equity to total
assets 11.23% 10.16% 10.07% 9.70% 11.94% 9.65% 11.16% Tier 1 leverage ratio 13.51 9.72 10.48 9.71 12.43 9.80 10.87 Common equity tier 1 capital ratio N/A 8.50 9.78 8.62 11.75 9.39 11.02 Tier 1 risk-based capital
ratio 10.58 10.70 11.38 9.70 12.53 10.31 11.04 Total risk-based capital ratio 12.50 11.82 12.51 10.65 13.51 11.24 12.04 Historical Financials Interim periods are annualized.Represents a non-GAAP financial
measure. See Non-GAAP Reconciliation slides in Appendix for additional detail.Tax-exempt income is calculated on a tax equivalent basis. Tax-exempt income includes municipal securities, which is exempt from federal taxation. A tax rate of 21%
is used for fiscal year 2018 and interim periods and a tax rate of 35% is used for fiscal years 2017 and prior.Efficiency ratio is noninterest expense divided by the sum of net interest income and noninterest income.
24 Non-GAAP Reconciliation As of or for the Year Ended December
31, 2014 2015 2016 2017 2018 As of or for the Six Months Ended June 30,2018 2019 $4,1430 $7,4690 $10,3110 $5,8490 $19,590 4,733 $2,902 5,548 $18,7890 0 0 0 0 1,381 1,591 0 00 00 00 01,903 3,352171 3,9570 0424 0 0 0
737 44 0 109 00 00 00 1,1660 127(3,129) 00 315(1,361) 0 0 0 2,701 0 $4,143 $7,469 $10,311 $9,716 $19,940 0 0 $6,859 $17,743 $4,143 4,143 $7,469 7,469 $10,311 10,311 $5,849 9,716 $19,590 19,940 $2,902 6,859 $18,789
17,743 1,003,991 1,410,447 1,839,563 2,452,797 3,494,655 0.41% 0.53% 0.56% 0.24% 0.56% 3,248,537 4,285,768 0.18% 0.88% 0.41% 0.53% 0.56% 0.40% 0.57% 0.43% 0.83% $4,143 4,143 $7,469 7,469 $10,311 10,311 $5,849 9,716 $19,590
19,940 $2,902 6,859 $18,789 17,743 1,485 2,066 2,100 2,100 2,100 1,050 175 2,6582,658 5,4035,403 8,2118,211 3,7497,616 17,49017,840 1,8525,809 18,61417,568 86,273 117,343 149,132 245,193 327,446 3.08% 4.60% 5.51% 1.53%
5.34%3.08% 4.60% 5.51% 3.11% 5.45% 265,429 476,749 1.41% 7.87%4.41% 7.43% $24,640 $30,562 $40,587 $62,089 $85,755 0 0 0 0 4,733 $45,714 $44,591 5,548 0
24,64031,0901,904 30,56242,2672,365 40,58754,0533,407 62,08974,8183,679 81,022110,3686,083 40,16649,0853,703 44,59168,4793,317 0 0 0 1,903 171 32,994 44,632 57,460 80,400 116,622 74.68% 68.48% 70.64% 79.10% 73.64% (Dollars in
thousands)Non-GAAP Core Operating Income:Net IncomeAdd: restructuring chargesLess: Tax effect(1)Restructuring charges, net of taxAdd: fixed asset impairmentsLess: Tax effect(2)Fixed asset impairments, net of taxAdd: State tax credit(3)Add:
2017 Tax Cut and Jobs Act(3) Non-GAAP core operating incomeNon-GAAP Core Operating Return on Average Assets:Net IncomeNon-GAAP core operating income Average AssetsGAAP return on average assets(4)Non-GAAP core operating return on average
assets(4)Non-GAAP Core Operating Return on Average Equity:Net IncomeNon-GAAP core operating income Less: Preferred stock dividendsNet Income available to common stockholders Non-GAAP core operating incomeavailable to common stockholders
Average common equityGAAP return on average common equity(4)Non-GAAP core operating return on average common equity(4)Non-GAAP Core Operating Efficiency Ratio:Non-interest expenseLess: restructuring chargesNon-GAAP non-interest expense
(numerator) Net interest incomeNon-interest incomeAdd: fixed asset impairmentsNon-GAAP Operating revenue (denominator) GAAP efficiency ratioNon-GAAP core operating efficiency ratio 74.68% 68.48% 70.64% 77.23% 69.47% 0 424 52,788 72,220
86.60% 62.11% 76.09% 61.74% Represents the tax impact of the adjustments above at a tax rate of 25.73%,
plus a permanent tax benefit associated with stock-based grants that were exercised prior to our formerCEO’s departure.Represents the tax impact of the adjustments above at a tax rate of 25.73% for fiscal year 2018 and 38.73% for fiscal years
prior to 2018.No tax effect associated with the 2017 Tax Act adjustment or state tax credit.Interim periods have been annualized.
25 Non-GAAP Reconciliation (cont.) As of or for the Three Months Ended (Dollars
in thousands) June 30, 2018 September 30, 2018 December 31, 2018 March 31, 2019 June 30, 2019 Non-GAAP Core Operating Income: Net Income $278 $6,354 $10,334 $9,350 $9,439 Add: restructuring
charges 5,548 0 (815) 0 0 Less: Tax effect(1) 1,591 0 (210) 0 0 Restructuring charges, net of tax 3,957 0 (605) 0 0 Add: fixed asset impairments 0 171 0 0 424 Less: Tax effect(2) 0 44 0 0 109 Fixed
asset impairments, net of tax 0 127 0 0 315 Add: State tax credit(3) 0 0 (3,129) (1,361) 0 Add: 2017 Tax Cut and Jobs Act 0 0 0 0 Non-GAAP core operating income $4,235 $6,481 $6,600 $7,989 $9,754 Non-GAAP Core
Operating Return on Average Assets: Net Income $278 $6,354 $10,334 $9,350 $9,439 Non-GAAP core operating income 4,235 6,481 6,600 7,989 9,754 Average Assets 3,423,674 3,588,876 3,884,642 4,168,243 4,402,002
GAAP return on average assets(4) 0.03% 0.70% 1.06% 0.91% 0.86% Non-GAAP core operating return on average assets(4) 0.50% 0.72% 0.67% 0.78% 0.89% Non-GAAP Core Operating Efficiency Ratio: Non-interest
expense $25,556 $19,875 $20,166 $22,631 $21,960 Less: restructuring charges 5,548 0 (815) 0 0 Non-GAAP non-interest expense (numerator) 20,008 19,875 20,981 22,631 21,960 Net interest
income 25,948 28,967 32,316 33,605 34,874 Non-interest income 1,730 1,185 1,195 1,645 1,672 Add: fixed asset impairments 0 171 0 0 424 Non-GAAP operating revenue (denominator) 27,678 30,323 33,511 35,250 36,970
GAAP efficiency ratio 92.33% 65.91% 60.18% 64.20% 60.09% Non-GAAP core operating efficiency ratio 72.29% 65.54% 62.61% 64.20% 59.40% Represents the tax impact of the adjustments above at a tax rate of 25.73%,
plus a permanent tax benefit associated with stock-based grants that were exercised prior to our formerCEO’s departure.Represents the tax impact of the adjustments above at a tax rate of 25.73%.No tax effect associated with the state tax
credit.Interim periods are annualized.
26 Board of Directors Name State Biography Rod Brenneman(Non-Exec. Chairman) Mr. Brenneman
began his career at Seaboard Corporation in 1989. While at Seaboard, he served in various financial management capacities. In 1999 he became Senior Vice-President & CFO MO of Seaboard Foods and was named President & CEO in 2001. In
2011, he was hired as President & CEO of Butterball LLC, the largest integrated turkey processing company in the U.S. todevelop and implement a three-year turnaround of the company. George Bruce KS Mr. Bruce is the CEO and General
Counsel of Aladdin Petroleum Corporation, where he has been active in domestic oil and gas exploration and production. In his legal career, Mr. Bruce was a law partner of Hall, Pike & Bruce from 1980-1988 before joining Martin, Pringle,
Oliver, Wallace & Bauer, LLP, where he served as managing partner and continues to serve of counsel. His legal banking experience includes significant commercial lending and regulatory experience, including the sale and acquisition of
numerous banks and chartering de novo banks in KS and NV. Steven Caple TX Mr. Caple serves as the President of Unity Hunt, Inc., the company through which the Lamar Hunt family oversees its holdings. Mr. Caple focuses on developing and
implementing the strategic initiatives and oversees Unity Hunt's accounting, finance, investment, legal, operating and tax functions. He previously served as president at numerous firms, including VFT Capital, Novo Networks, and Berliner
Communications Inc. Ron Geist KS Mr. Geist currently serves as the President of Rage Administrative and Marketing Services, large franchisee of restaurants. Jennifer Grigsby OK Ms. Grigsby is the Executive VP and CFO of Ascent
Resources, LLC, an oil and gas exploration and production company located in Oklahoma City, OK. She previously served as CEO and CFO of American Energy - Woodford, LLC and was Senior Vice President of Corporate and Strategic Planning for
Chesapeake Energy Corporation. She is a CPA and Chartered Global Management Accountant. George Hansen, III KS Mr. Hansen serves as CEO & President of the Enterprise Center in Johnson County (the largest venture development organization
in KS). Through his career, he has managed companies for growth in a variety of industries. Mason King, CFA TX Mr. King, CFA is a Principal of Luther King Capital Management (LKCM). He joined the firm in 2004 and serves as a portfolio
manager and small cap analyst. James Kuykendall OK Mr. Kuykendall owns and operates Equipment World Inc., a construction equipment dealership located in Tulsa, OK. Equipment World sells equipment across the country and serves a regional
area providing rentals, parts and services. Mr. Kuykendall joined Equipment World in 1987 and has spent the last 29 years working to build the business. Lance Humphreys OK Mr. Humphreys has served as Manager – Lead Investor of Triad
Marketing Inc., since May 2010. He is also currently Chief Executive Officer of Salt and Light Leadership, Inc., a role he has heldsince May 2018, and Manager of Bluestream Consulting, LLC. George F. Jones Jr. TX See management bios Mike
Maddox KS See management bios David O'Toole KS See management bios Kevin Rauckman KS Mr. Rauckman served as the CFO and Treasurer of Garmin Ltd. from 1999 to 2014. He was named CFO of the Year by the Kansas City Business Journal in
2008. Michael Robinson KS One of the original organizers of CrossFirst, Mr. Robinson is currently the President and COO of CommLink Technology. He previously served as CEO of Leadergy Catalyst. Jay Shadwick KS One of the original
organizers and directors of CrossFirst, Mr. Shadwick has been a partner in the law firm of Duggan, Shadwick, Doerr and Kurlbaum, P.C. since 1994. Mr. Shadwick has practiced law for 31 years with an emphasis in banking, real estate and
business transactions. He provides legal counsel to numerous banking institutions on a number of matters, including commercial lending, lending practices, foreclosures, workouts and bank-related litigation. Grey Stogner TX Mr. Stogner is
the founder and President of Crestview Real Estate, LLC, a commercial real estate development firm in Dallas. Mr. Stogner has personally been involved with the entitlement, development, leasing and construction management of over 7 million
sq. ft. of commercial space. He is also a principal and co-founder of The Cogent Group, a private real estate investment company established to pursue retail development and acquisition opportunities. Stephen Swinson TX Mr. Swinson
currently serves as President and CEO of Thermal Energy Corporation (TECO), a not-for-profit district energy system that provides mission-critical heating, cooling and power to 16 institutions, 48 buildings and more than 21.6 million square
feet of conditioned space on the Texas Medical Center campus in Houston, TX.