CROSSFIRST BANKSHARES, INC.
3
TABLE 4. 2021 - 2022 QUARTERLY ANALYSIS OF
CHANGES IN NET INTEREST INCOME
(UNAUDITED)*
Three Months Ended
September 30,
2022
2021
Average
Balance
Interest
Income /
Expense
Average
Yield /
Rate
(4)
Average
Balance
Interest
Income /
Expense
Average
Yield /
Rate
(4)
(Dollars in thousands)
Interest-earning assets:
Securities - taxable
(1)
$
213,775
$
1,241
2.32
%
$
191,636
$
964
2.01
%
Securities - tax-exempt
(1)(2)
560,541
4,725
3.37
502,107
4,310
3.43
Federal funds sold
-
-
-
-
-
-
Interest-bearing deposits in other banks
231,345
1,193
2.05
313,188
121
0.15
Gross loans, net of unearned income
(3)
4,626,684
59,211
5.08
4,230,553
42,664
4.00
Total interest-earning assets
(1)(2)
5,632,345
$
66,370
4.68
%
5,237,484
$
48,059
3.64
%
Allowance for credit losses
(56,995)
(75,103)
Other non-interest-earning assets
188,997
246,603
Total assets
$
5,764,347
$
5,408,984
Interest-bearing liabilities
Transaction deposits
$
531,999
$
1,539
1.95
%
$
510,823
$
259
0.20
%
Savings and money market deposits
2,519,574
10,568
1.66
2,276,436
1,907
0.33
Time deposits
733,607
2,802
1.52
752,012
2,045
1.08
Total interest-bearing deposits
3,785,180
14,909
1.56
3,539,271
4,211
0.47
FHLB and short-term borrowings
165,196
908
2.18
278,154
1,275
1.82
Trust preferred securities, net of fair value
adjustments
1,037
38
14.58
988
24
9.63
Non-interest-bearing deposits
1,137,626
-
-
909,750
-
-
Cost of funds
5,089,039
$
15,855
1.23
%
4,728,163
$
5,510
0.46
%
Other liabilities
62,102
36,106
Stockholders’ equity
613,206
644,715
Total liabilities and stockholders' equity
$
5,764,347
$
5,408,984
Net interest income
(2)
$
50,515
$
42,549
Net interest spread
(1)(2)
3.45
%
3.18
%
Net interest margin
(1)(2)
3.56
%
3.23
%
(1)
The Company changed the annualization method on the available-for-sale securities portfolio from Actual/Actual to 30/360 and moved the unrealized gain
(loss) on available-for-sale securities from an interest-earning asset to a non-interest-earning asset. All periods presented reflect this change.
(2)
Tax exempt income is calculated on a tax-equivalent basis. Tax-free municipal securities are exempt from federal income taxes. The incremental income tax
rate used is 21.0%.
(3)
Average loan balances include non-accrual loans.
(4)
Actual unrounded values are used to calculate the reported yield or rate disclosed. Accordingly, recalculations using the amounts in thousands as disclosed
in this release may not produce the same amounts.
* As revised October 20, 2022
