That almost looks like plastic but it is balsa and based on that I'm going to say it is done, forget fixing it. The reason is that even glued, that balsa is going to split again and it will probably happen with a nice fish on and you'll lose it to the crank. I know from seeing a guy in our club trying to glue the bill back in place on a Rapala DT crank, he slapped it off the water to get weeds off and he did it one time too many and the entire front of the bait cane off. Eh used wood glue along with Devcon 2 ton epoxy over top and he let it cure for a week, it took 4 cast for it to fly apart again, so rather than chance it and put all that work into it, just put it in a collector case for retired lures and get a new one.

Got the same model in one of those monthly tackle boxes and it did the same thing as I was running it over a sand flat.  Just toss it and get another one.  The added weight from the glue may cause it to run differently

That bait can be repaired and will last you a long time if done correctly. If you really like the bait then go to the trouble and get it repaired properly. It's not that difficult and I can walk you thru the process. Send me a PM and we can talk about the

step by step instructions. If you don't feel comfortable with the repair then I will do it for you. A good balsa crank is worth the time and effort to save.