Third Coast Bancshares, Inc. Stock Price, News & Analysis

Third Coast Bancshares, Inc. (NASDAQ: TCBX) reported strong first quarter 2023 financial results, demonstrating growth across key metrics. Loans held for investment increased by $105.8 million, reaching $3.21 billion, while deposits rose by $86.4 million to $3.32 billion. The company recorded net income of $9.2 million, up 25% from the previous quarter, translating to earnings per share of $0.55. The net interest margin improved to 3.79%, supported by a higher yield on loans at 6.90%. Non-performing assets decreased by 16.3%, reflecting a healthy asset quality position. The efficiency ratio improved to 63.47%, indicating better cost management. CEO Bart Caraway expressed confidence in deposit opportunities and anticipates continued loan growth amid market uncertainties. Overall, Third Coast remains well-positioned for future performance.

Third Coast Bancshares, Inc. (NASDAQ: TCBX) announced the release date for its 2023 first quarter financial results, scheduled for April 26, 2023, after the market closes. A conference call to discuss these results will occur on April 27, 2023, at 11:00 a.m. Eastern Time (10:00 a.m. Central). Investors can participate in the call via phone or online. For those unable to attend live, a replay will be available until May 4, 2023. Third Coast operates primarily in the Greater Houston, Dallas-Fort Worth, and Austin-San Antonio markets, holding a robust position with 16 branches and one loan production office since its establishment in 2008.

Third Coast Bancshares, Inc. (NASDAQ: TCBX) has declared a quarterly cash dividend of $16.875 per share on its 6.75% Series A Convertible Non-Cumulative Preferred Stock. This dividend is payable on April 17, 2023, for shareholders on record by the close of business on March 31, 2023. The company is a Texas-based bank holding entity operating in major metropolitan areas such as Greater Houston, Dallas-Fort Worth, and Austin. The announcement reflects the company's commitment to delivering value to its shareholders while highlighting its operational presence in significant markets.

Third Coast Bancshares, Inc. (NASDAQ: TCBX) reported significant growth in its Q4 and full year 2022 financial results. Loans reached $3.11 billion, up 50.2% from 2021, with deposits increasing by 51.1% to $3.24 billion. Total assets rose to $3.77 billion, reflecting a 51% year-over-year growth. Fourth quarter net income was $7.5 million, an increase from $6.8 million in Q3 2022. The bank opened four new branches, enhancing its market presence. While non-performing assets decreased by 29% year-over-year, the efficiency ratio improved significantly to 66.74%. Basic earnings per share were reported at $0.45.

Third Coast Bancshares, Inc. (NASDAQ: TCBX) will report its 2022 fourth quarter and full year financial results on January 26, 2023, after market close. A conference call is scheduled for January 27, 2023, at 11:00 a.m. Eastern Time, to discuss these results. Investors can access the call by phone or online.

For those unable to attend live, a replay is available until February 3, 2023. Third Coast Bancshares operates within the Texas market through Third Coast Bank and has 16 branches across major metropolitan areas.

Third Coast Bancshares, Inc. (NASDAQ: TCBX) announced a quarterly cash dividend of $17.25 per share on its 6.75% Series A Convertible Non-Cumulative Preferred Stock. This dividend is set to be paid on January 17, 2023, to shareholders on record as of December 31, 2022. The company operates primarily in major Texas markets including Greater Houston, Dallas-Fort Worth, and Austin-San Antonio, with a network of 16 branches and one loan production office.

Third Coast Bancshares, Inc. (NASDAQ: TCBX) reported strong third quarter 2022 financial results, with net income of $6.8 million ($0.49 per diluted share), a significant increase from $2.3 million in Q2 2022. Loans rose 8.1% to $2.97 billion, and deposits increased by 3.0% to $2.98 billion. Total assets grew to $3.52 billion, up 4.7% from Q2 2022. Non-performing assets decreased to 0.29% of total assets. The company issued $69.4 million in preferred stock. The net interest margin held steady at 3.77%, bolstered by strong loan growth and increased interest income.