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

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.

Third Coast Bancshares, Inc. (NASDAQ: TCBX) has declared a quarterly cash dividend of $3.1875 per share on its 6.75% Series A Convertible Non-Cumulative Preferred Stock. This dividend is payable on October 17, 2022 to shareholders on record by September 30, 2022. The company operates primarily in the Greater Houston, Dallas-Fort Worth, and Austin-San Antonio areas through its wholly owned subsidiary, Third Coast Bank, SSB.

Third Coast Bancshares, Inc. (NASDAQ: TCBX) will release its 2022 third quarter financial results on October 26, 2022, after market close. Management has scheduled a conference call on October 27, 2022, at 11:00 a.m. Eastern Time to discuss these results. Investors can participate by calling 201-389-0869 or via the web at this link. A replay will be available until November 3, 2022. Third Coast operates primarily in Texas, with 14 branches serving major metropolitan areas.

Third Coast Bancshares, Inc. (NASDAQ: TCBX) has successfully closed a private placement of 69,400 shares of Series A Preferred Stock, raising $69.4 million. The shares were sold to accredited investors at $1,000 per share, with Castle Creek Capital Partners VIII, LP acting as the lead investor. The proceeds will be used for general corporate purposes. Additionally, 175,000 warrants were issued to certain investors for common stock purchases. Piper Sandler & Co. served as the sole placement agent for this offering.

Third Coast Bancshares, Inc. (NASDAQ: TCBX) announced a private placement of $69.4 million in non-cumulative convertible preferred stock with Castle Creek Capital Partners and other investors. The offering, set to close on September 22, 2022, aims to bolster growth strategies and enhance operational capabilities. The Series A Preferred Stock will yield a 6.75% dividend rate, convertible into common stock at $22.50 per share. The move reflects confidence in future profitability and operational growth, with a representative from Castle Creek joining the Board post-closing.