CrossFirst Bankshares, Inc. (Nasdaq: CFB) has announced a definitive merger agreement with Canyon Bancorporation, Inc. The merger will involve the combination of Canyon with and into CrossFirst, and Canyon's bank subsidiary, Canyon Community Bank, N.A., merging with and into CrossFirst Bank ("CFB Bank") via a stock and cash transaction. With total loans of $122 million and total deposits of $169 million as of March 31, 2023, Canyon Bank operates one banking location in Tucson, Arizona. The merger will expand CFB Bank's presence in Arizona, with a strategic presence in Tucson adding to its existing presence in the metro Phoenix market. Canyon shareholders will receive a combination of cash and CrossFirst common stock as consideration for their shares of Canyon common stock, with an estimated aggregate transaction value of $15.1 million based on the current CrossFirst stock price. The transaction is expected to close in H2 2023, subject to approval by bank regulatory authorities and other customary closing conditions.