News & Events zu Third Coast Bancshares Inc (TCBX)TCBXThird Coast Bancshares Inc

Third Coast Bancshares to Acquire Great Plains Bancshares for Approximately $239.6M

Third Coast Bancshares and Great Plains Bancshares jointly announced the signing of a definitive merger agreement pursuant to which Third Coast will acquire Great Plains in an all-stock transaction valued at approximately $239.6M based on Third Coast's closing stock price as of October 6. On a pro forma basis, the combined company is expected to have approximately $9B in assets following the completion of the transaction. Under the terms of the merger agreement, Thunder Merger Sub, a wholly owned subsidiary of Third Coast, will merge into Great Plains, with Great Plains' shareholders receiving shares of Third Coast common stock in exchange for their shares of Great Plains' common stock. Following the merger, Great Plains will merge into Third Coast and Great Plains National Bank will merge into Third Coast Bank. Great Plains will continue operating under the Great Plains brand as Great Plains Bank, a division of Third Coast Bank. Third Coast will continue to trade on the NYSE and NYSE Texas under the symbol (TCBX). Third Coast expects to issue 5,570,352 shares of its common stock, resulting in pro forma equity ownership of approximately 78% by Third Coast shareholders and 22% by Great Plains shareholders. Two Great Plains representatives will be appointed to the boards of directors of Third Coast and Third Coast Bank, and Russell, Great Plains' CEO, has agreed to continue serving in a leadership role following the closing. The transaction has been unanimously approved by the board of directors of both companies and is expected to close in the first quarter of 2027, subject to customary regulatory approvals and other closing conditions. Closing is also subject to approval of Great Plains' shareholders of the merger agreement and the merger, as well as approval by Third Coast's shareholders of the issuance of Third Coast common stock pursuant to the merger agreement.

Q2 Net Interest Margin Reaches 3.83%

Reports Q2 net interest margin 3.83% vs. 3.67% for Q1 and 4.22% for the year ago quarter of 2025. Q2 tangible book value per common share was $33.08 from $29.69 at previous quarter end. Tier 1 capital ratio was 9.35% from 9.65% in the previous quarter. "Our Q2 results reflect continued execution across our core strategy, with record diluted earnings per share, a double-digit increase in net interest income, disciplined expense management and solid credit performance," said Bart Caraway, CEO. "We remain focused on attracting top talent, growing high-quality loans and deposits, and sustaining this momentum through the second half of the year."

Third Coast Bancshares Approves $30M Share Repurchase Program

Third Coast Bancshares approved the continuation of its share repurchase program. This repurchase program allows the company to buy up to $30M of its common stock and will expire on June 30, 2027.