First Security Bancorp of Searcy has added to its stake in an out-of-state banking concern: CrossFirst Holdings LLC of Leawood, Kansas. The $2.65 million transaction boosts FSB’s direct ownership from 9.78 percent to 10.8 percent.
CrossFirst recorded total assets of $1.7 billion at March 31. It generated net income of more than $8.1 million in 2015 and $5.5 million in 2014.
CrossFirst also operates branches in Wichita, Kansas; and Oklahoma City, opened in 2012. A Tulsa office was added to the mix in 2013.
Reynie Rutledge, chairman and CEO of the nearly $5 billion-asset FSB, has served as a director at CrossFirst since its launch in October 2007.