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

Third Coast Bancshares (NASDAQ: TCBX) has partnered with Treasury Prime, a leading Banking-as-a-Service (BaaS) provider, to enhance its embedded finance capabilities. This collaboration aims to streamline connections between fintech clients and Third Coast Bank, set to launch in Q3 2022. The partnership will allow Third Coast to offer a variety of banking services, including accounts and payments, enabling growth in non-interest income streams and low-cost deposits. Third Coast operates primarily in Texas and has secured multiple fintech clients through this initiative.

Third Coast Bancshares (NASDAQ: TCBX) reported strong financial results for Q1 2022, with loans increasing 18.3% quarter-over-quarter to $2.45 billion, and noninterest-bearing demand deposits rising 75.3% to $931.6 million. The company recorded net income of $2.1 million, up from $354,000 in Q4 2021, leading to EPS of $0.16. Asset quality improved, with non-performing loans at a low ratio of 0.44%. However, net interest margin decreased to 4.09%, and noninterest income fell to $1.7 million.

Third Coast Bancshares, Inc. (NASDAQ: TCBX), based in Texas, will report its 2022 first quarter financial results on April 28, 2022, after market close. A conference call is scheduled for April 29, 2022, at 11:00 a.m. Eastern Time to discuss these results. The call can be accessed via phone or online. A replay will be available until May 5, 2022. Third Coast operates in key Texas markets and conducts banking through its 13 branches and one loan production office.

Third Coast Bancshares, Inc. (NASDAQ: TCBX) has initiated a campaign to promote electronic statements (E-Statements) among its customers to reduce paper usage. Currently, only 8% of customers utilize this service, which offers enhanced convenience and security. The campaign includes promotional materials across various platforms urging customers to switch to E-Statements for better environmental sustainability and improved identity security. CEO Bart Caraway emphasizes E-Statements' role in enhancing communication and efficiency in the bank's operations.

Third Coast Bancshares, Inc. (NASDAQ: TCBX) announced the issuance of $82.3 million in 5.500% Fixed-to-Floating Rate Subordinated Notes due 2032. The private placement targets institutional accredited investors and is designed to qualify as Tier 2 capital. The Notes will carry a fixed interest rate initially, changing to a quarterly rate based on the Secured Overnight Financing Rate plus 315 basis points after April 1, 2027. Proceeds will be used for general corporate purposes, and the offering includes a registration rights agreement.

On March 24, 2022, Third Coast Bank SSB announced a partnership with KlariVis, a data analytics provider tailored for financial services. This collaboration aims to enhance the bank's customer experience by offering better insights into customer needs. KlariVis's platform aggregates actionable data into an intuitive dashboard, allowing Third Coast Bank to improve operational efficiency and customer engagement. With over $2.5 billion in assets as of December 31, 2021, Third Coast Bank continues to expand its services across major Texas markets.

Third Coast Bank SSB is expanding with a new branch in Fort Worth, Texas, aimed at enhancing commercial and corporate lending in the area. Currently operating in Dallas and Plano, the bank emphasizes its commitment to the local community. Notably, Third Coast Bank has launched an initial public offering of 3,500,000 shares, now trading under the symbol 'TCBX' on NASDAQ. As of December 31, 2021, the bank reported over $2 billion in assets, serving major metropolitan areas across Texas.

Third Coast Bancshares, Inc. (NASDAQ: TCBX) reported its fourth quarter and full year financial results for 2021. Loans held for investment surged by $456.3 million, or 28.3%, resulting in a 4.78% net interest margin. The company maintained strong asset quality with a low nonperforming loans ratio of 0.75%. However, net income fell to $354,000, with earnings per share dropping to $0.03, primarily due to a $6.1 million loan loss provision. Noninterest income increased significantly, but noninterest expenses also rose by 13.9%. Overall, Third Coast highlighted robust organic growth potential for 2022.