CrossFirst Bankshares Announces Leadership Succession

LEAWOOD, Kan., May 18, 2020 (GLOBE NEWSWIRE) -- The Board of Directors of CrossFirst Bankshares, Inc. (“CrossFirst” or the “Company”) (NASDAQ: CFB), the holding company for CrossFirst Bank (the “Bank”), today announced that George F. Jones, Jr. will transition his role as President & Chief Executive Officer, effective June 1, 2020, to Mike Maddox, the current President and Chief Executive Officer of the Bank.  Mr. Jones will continue to serve on the Company’s Board of Directors through 2021 and will serve as Vice Chairman.

CrossFirst Chairman Rod Brenneman said, “I am excited to welcome Mike as our new CEO for CrossFirst Bankshares.  Mike is a proven leader and an experienced banker who is well-positioned to lead CrossFirst into the future.  Mike has more than 20 years of leadership roles in banking, including as CEO of CrossFirst Bank.  He has a strong track record of initiating and driving results, managing operational risk and strengthening compliance.  Mike’s financial and business acumen, integrity, and commitment to strong talent management are important qualities that were considered by our Nominating Committee.”

Mr. Maddox has served as the Bank President & CEO since 2008 and will continue in that role for the foreseeable future.  During his tenure, he has significantly grown the Bank’s market share in Kansas City and expanded the Bank into four other key markets across Kansas, Oklahoma, Missouri and Texas. 

“It is an honor to continue to lead the team that has grown the Bank to over $5 billion in assets,” said Mr. Maddox. “We are a strong regional bank, and I’m grateful for our employees, clients, and partners who have made it successful.”

“Over the last two years, George successfully executed a strategy to increase profitability and give our stockholders liquidity in the public markets, which has led to strong operating performance despite a challenging external environment," Mr. Brenneman said.  "I am proud of what the CrossFirst team has accomplished and I am confident that we have positioned the Company for success and long-term growth.”

Mr. Jones will continue to be actively involved as a Board member and will transition responsibilities to Mr. Maddox over the next several weeks.  Mr. Jones will continue to support the Company in growing and expanding our Dallas market.  The Company has achieved 24 consecutive quarters of positive operating revenue growth under their combined leadership.