CrossFirst Bankshares, Inc. (NASDAQ:CFB) Q4 2024 Earnings Call Transcript

Operator: [Operator Instructions] The next question is from Thomas Wendler of Stephens.

Thomas Wendler: Most of my questions have been answered. But I just wanted to go back to capital for a second. We saw 30 bps increase in total risk-based capital in 4Q ’23. And as you start thinking about buybacks, can you give us an idea of the quarterly increase you’re kind of expecting in your capital moving forward?

Ben Clouse: Sure, Thomas. As we said, we intend to continue building capital. We’d like to see total risk base move from its current level closer to 11.5%. We want to continue to build CET1 a little bit beyond its current level of 10%. As Mike mentioned, next year, we think with this year, 2024, with continued stability in earnings, we want to make sure we’re balancing our capital build with total shareholder return. We’re not going to do that in a way that compromises our ability to continue building that capital toward those targets, but we think there’s a balance there.

Operator: I am showing no other questions at this time, and this will conclude our question-and-answer session. I would like to turn the conference back over to Mike Maddox for any closing remarks.

Mike Maddox: Well, I want to thank you again for joining our fourth quarter and full-year call today. I just want to, again, express my appreciation to our shareholders and also to our team, really, really proud of the effort and the year that we had in 2023 in the face of a very difficult banking environment. But I think we’re all optimistic that as we see rates stabilize and the potential of rates declining, that we’ll have the opportunity to have a very good year this year, and we remain very, very focused on credit quality, but we’re really pleased with the way our portfolio continues to perform. So thank you again, everybody, for joining us today and have a great day.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.