CrossFirst Bankshares Acquires Canyon Bancorporation and Canyon Community Bank

April 21, 2023

CrossFirst Bankshares, Inc. will acquire Canyon Bancorporation, Inc. and its subsidiary Canyon Community Bank, N.A. in a stock-and-cash transaction valued at an estimated $15.1 million. The deal adds a Tucson branch and core deposit base (Canyon Bank: $122M loans, $169M deposits as of March 31, 2023) to CrossFirst's regional banking footprint and is expected to close in H2 2023 subject to regulatory approval.

Buyers
CrossFirst Bankshares, Inc.
Targets
Canyon Bancorporation, Inc., Canyon Community Bank, N.A.
Sellers
Canyon Bancorporation, Inc. shareholders
Location
Arizona, United States
Transaction Type
Buyout

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