Welcome to our dedicated page for Third Coast Bancshares news (Ticker: TCBX), a resource for investors and traders seeking the latest updates and insights on Third Coast Bancshares stock.
Third Coast Bancshares, Inc. (TCBX) delivers commercial banking solutions to Texas businesses through its community-focused approach and localized decision-making. This news hub provides investors and business leaders with essential updates about the company's financial developments and market activities.
Access timely reports on earnings announcements, strategic partnerships, leadership changes, and regulatory filings. Our curated collection ensures you stay informed about TCBX's commercial lending initiatives, operational efficiency improvements, and community banking services across Greater Houston, Dallas-Fort Worth, and other key markets.
Bookmark this page for direct access to original press releases and verified news about loan portfolio performance, deposit growth trends, and technological advancements in regional banking services. Regular updates provide insights into how TCBX maintains its competitive position through tailored financial solutions and responsive client support.
Third Coast Bancshares (NASDAQ: TCBX) reported its Q2 2024 financial results. The company achieved record earnings per share (EPS) of $0.70 and diluted EPS of $0.63, up from $0.68 and $0.61 in Q1 2024. Net income rose to $10.8 million, a 3.8% increase from Q1 2024. Return on average assets was 0.97%, while the efficiency ratio improved to 61.39% from 64.11% in Q1 2024.
Gross loans increased modestly by $12 million to $3.76 billion, and noninterest-bearing demand deposits rose 9.5% to $464.5 million. Book value per share grew to $26.99, and tangible book value per share reached $25.60. The company opened its 17th and 18th branches in Austin and The Woodlands, Texas.
Net interest income was $38.9 million, up 2.0% from Q1 2024. Noninterest income increased to $2.9 million, while noninterest expenses decreased to $25.6 million. However, the provision for credit losses was $1.9 million, and nonperforming loans rose to $24.4 million.
Third Coast Bancshares (NASDAQ: TCBX), the parent company of Third Coast Bank, will release its 2024 second quarter financial results on July 24, 2024, after market close. A conference call and webcast to discuss the results is scheduled for July 25, 2024, at 11:00 a.m. Eastern Time. Interested parties can listen in by dialing 201-389-0869 or via the internet. A replay will be available until August 1, 2024, and the webcast will be archived on the company's website for 90 days.
Third Coast Bancshares, the holding company of Third Coast Bank, declared a quarterly cash dividend of $17.0625 per share on its 6.75% Series A Convertible Non-Cumulative Preferred Stock. The dividend will be payable on July 15, 2024, to shareholders who hold the stock as of June 30, 2024. This announcement comes as part of the company's regular dividend schedule.
Stonegate Capital Partners has initiated coverage on Third Coast Bancshares, Inc. (NASDAQ: TCBX). The key takeaways from the announcement include a net income of $10.4 million for the quarter and a year-over-year loan growth of $530.6 million. Additionally, the bank has opened its 17th branch.
Third Coast Bancshares, Inc. celebrates Earth Month 2024 by reinforcing its commitment to impact and sustainability through a companywide sustainable habits initiative. The company has planted over 1,075 trees since 2022, showcasing its dedication to sustainability and environmental consciousness. The corporate strategy focuses on environmental consciousness, human capital management, and community outreach, fostering a culture of corporate responsibility. Third Coast promotes sustainable habits for employees and customers, culminating in a partnership with A Living Tribute to plant 360 trees in the South Texas National Wildlife Refuge Complex. The company operates primarily in the Greater Houston, Dallas-Fort Worth, and Austin-San Antonio markets through its subsidiary Third Coast Bank, SSB.
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