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CrossFirst Bank has promoted Randy Rapp to President, effective July 1, 2022. Previously the Chief Risk Officer and Chief Credit Officer, he will oversee credit and risk management, sales, technology, and operations. Mike Maddox, CEO, highlighted Rapp's significant contributions to improving credit practices and financial performance since joining in 2019. Rapp brings over 30 years of experience in commercial banking, previously serving at Texas Capital Bankshares.
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Promotion of Randy Rapp to President is expected to enhance leadership and accelerate growth.
Rapp's experience in improving credit practices may lead to better financial performance.
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Bank Promotes New Leader from Within
LEAWOOD, Kan.--(BUSINESS WIRE)--
CrossFirst Bank, a subsidiary of CrossFirst Bankshares, Inc. (NASDAQ: CFB), announced today the promotion of Randy Rapp to President of the Bank, effective July 1, 2022. Mr. Rapp most recently served as Chief Risk Officer and Chief Credit Officer.
CrossFirst Bank Promotes Randy Rapp to President. In his new role as President of CrossFirst Bank, Mr. Rapp will oversee the credit and risk management, sales and business development, technology and infrastructure, and operational business lines of the Bank. (Photo: Business Wire)
In his new role as President of CrossFirst Bank, Mr. Rapp will oversee the credit and risk management, sales and business development, technology and infrastructure, and operational business lines of the Bank. He will continue to report to Mike Maddox, CEO of CrossFirst Bank and President and CEO of CrossFirst Bankshares, Inc.
“The promotion of Randy reflects the careful thought of our Board of Directors regarding the future leadership of our company as we position the Bank for future growth,” said Maddox. “It’s our strategy to recruit and retain the best talent and prepare them for success. Since joining CrossFirst in 2019, Randy has made significant contributions to our credit practices leading to improvements in the quality of our loan portfolio and financial performance. Randy has extensive experience in the financial services industry, and I am confident in his leadership abilities to accelerate our company forward.”
Mr. Rapp has more than thirty years of commercial banking experience. Prior to joining CrossFirst, Mr. Rapp served as Chief Credit Officer for Texas Capital Bankshares, Inc. Over the course of his career, Mr. Rapp has held roles of commercial relationship manager, credit approval officer, and Chief Credit Officer for several public banks in the North Texas area.
“I am honored to work alongside a talented group of extraordinary bankers and look forward to the expanded responsibilities of this role,” said Rapp. “Our continued ability to remain keenly focused on our core business model while contributing to the success of our employees, clients, and communities, continues to make CrossFirst Bank a world class organization.”
Mr. Rapp holds a Bachelors of Business Administration in Accounting from the University of Texas at Austin and Masters of Business Administration in Finance from Texas Christian. He is also a licensed Certified Public Accountant. Mr. Rapp is actively involved in the community having served as President of the Tarrant County Bankers Association, President of the Fort Worth Longhorn Club, Chair of the Board of University Christian Church, Chair of the Community Initiative and Core Allocations Committee of the Metropolitan Tarrant County United Way, and as the founding Chair of the McCombs Schoolof Business Parents Council at the University of Texas.
“Given the Bank’s growth over the last 15 years, the Board and I are committed to scaling our organization with experienced executives who support and execute on our strategic initiatives. The promotion of Randy highlights that goal, as well as our responsibilities for succession planning at all levels within our organization,” said Maddox. “By separating the Bank’s President and CEO positions, this promotion will also allow me to focus on our company’s long-term vision to achieve strategic and sustainable growth and address the unique opportunities and challenges of a rapidly-evolving banking landscape.”
About CrossFirst Bank CrossFirst Bank, headquartered in Leawood, Kansas, is a subsidiary of CrossFirst Bankshares, Inc. (Nasdaq: CFB), a Kansas corporation and a registered bank holding company. CrossFirst Bank has nine full-service banking offices in Kansas, Missouri, Oklahoma, Arizona, and Texas. For more information on CrossFirst Bank, visit www.crossfirstbank.com.
Forward-Looking Statements
All statements in this press release that do not directly and exclusively relate to historical facts constitute forward-looking statements. These forward-looking statements are based on the current beliefs, expectations and assumptions of CrossFirst’s management with respect to future events and are subject to a number of significant risks and uncertainties. It is important to note that CrossFirst’s performance, and actual results, financial condition or business could differ materially from those expressed in such forward-looking statements. The words “future,” “position,” “opportunities” or the negative of these words, variations thereof or other similar words and expressions are intended to identify forward-looking statements. For example, these forward-looking statements include, but are not limited to, statements regarding changes to our leadership team, our future financial performance, business strategy and plans, market growth, and our objectives for future operations. Factors that could cause or contribute to such differences include, but are not limited to, the following: risks associated with the current outbreak of the novel coronavirus, or COVID-19; our ability to effectively execute our expansion strategy and manage our growth, including identifying and consummating suitable mergers and acquisitions and integrating merged and acquired companies; business and economic conditions, particularly those affecting our market areas in Kansas, Missouri, Oklahoma, Texas and Arizona, including a decrease in or the volatility of oil and gas prices or agricultural commodity prices within the region; concentrations of loans secured by real estate and energy located in our market areas; risks associated with our commercial loan portfolio, including the risk for deterioration in value of the general business assets that secure such loans; borrower and depositor concentration risks; our ability to maintain our reputation; our ability to successfully manage our credit risk and the sufficiency of our allowance; our ability to attract, hire and retain qualified management personnel; our dependence on our management team, including our ability to retain executive officers and key employees and their customer and community relationships; competition from banks, credit unions and other financial services providers; compliance with governmental and regulatory requirements. Additional discussion of these and other risks, uncertainties and factors affecting CrossFirst’s business is contained in CrossFirst’s filings with the Securities and Exchange Commission (the “SEC”), including in CrossFirst’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, its Quarterly Reports on Form 10-Q for the periods ended March 31, 2022, and its other filings with the SEC. The reader should not place undue reliance on forward-looking statements, since the statements speak only as of the date that they are made. Except as required by law, CrossFirst undertakes no obligation to update or revise forward-looking statements.
What is the significance of Randy Rapp's promotion at CrossFirst Bank?
Randy Rapp's promotion to President is significant as it positions him to lead key areas such as credit and risk management, potentially driving growth and improving financial performance.
Who was appointed as President of CrossFirst Bank?
Randy Rapp was appointed as President of CrossFirst Bank, effective July 1, 2022.
What were Randy Rapp's previous roles before becoming President?
Before his promotion, Randy Rapp served as the Chief Risk Officer and Chief Credit Officer at CrossFirst Bank.
How long has Randy Rapp been with CrossFirst Bank?
Randy Rapp has been with CrossFirst Bank since 2019.
What is the stock symbol for CrossFirst Bankshares, Inc.?
The stock symbol for CrossFirst Bankshares, Inc. is CFB.
