The Bank Slate


CrossFirst in Kan. reduces municipal securities holdings

CrossFirst Bankshares in Leawood, Kan., repositioned its securities portfolio to reduce its concentration in municipal securities.


The $7.2 billion-asset company said in a press release that it sold about $80 million of available-for-sale municipal securities at an $800,000 after-tax loss. CrossFirst plans to pay off wholesale borrowings and buy higher-yielding agency mortgage-backed products.


The moves should add about 2 cents to the company’s 2024 earnings per share, so it should take less than a year to earn back the securities loss.

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