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) is a commercially focused, Texas-based bank holding company for Third Coast Bank, operating primarily in the Greater Houston, Dallas-Fort Worth, and Austin-San Antonio markets. Its news flow reflects both its role as a community-oriented commercial bank and its activities as a publicly traded financial institution.
On this page, readers can find press releases and coverage related to Third Coast’s quarterly and annual financial results, including earnings announcements that detail net income, net interest margin, loan and deposit growth, asset quality metrics, and efficiency ratio trends. These updates provide insight into how the company’s community banking model performs across its Texas markets.
News items also highlight corporate actions and strategic developments. Recent disclosures include the planned transfer of the company’s stock listing from the Nasdaq Global Select Market to the New York Stock Exchange and NYSE Texas, with the common stock continuing to trade under the ticker symbol TCBX. Another significant news theme is mergers and acquisitions, such as the definitive merger agreement under which a wholly owned subsidiary of Third Coast will merge with Keystone Bancshares, Inc., followed by the integration of Keystone and Keystone Bank into Third Coast and Third Coast Bank.
In addition, Third Coast Bancshares’ news includes information on dividends declared on its 6.75% Series A Convertible Non-Cumulative Preferred Stock, as well as recognition for its capital markets activities. For example, the company reported receiving a 2025 North American Transaction of the Year award from Structured Credit Investor for a synthetic risk transfer transaction using real estate development loans as collateral, which reduced commercial real estate concentration risk and generated non-interest income.
Investors and observers can use this news feed to follow earnings releases, conference call schedules, dividend announcements, strategic transactions, and structured credit initiatives that shape the outlook for TCBX and its banking subsidiary.
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.
Third Coast Bancshares (TCBX) reported strong second quarter 2022 results with loans increasing by $301.2 million (12.3%) to $2.75 billion, and total deposits rising by $311.1 million (12.0%) to $2.90 billion. Net income reached $2.3 million, or $0.16 per diluted share. Despite growth, noninterest-bearing deposits fell significantly, and net interest margin decreased to 3.77%. The bank is pursuing a strategic growth plan, realigning leadership and investing in fintech initiatives to boost future revenue. New branches were opened in Georgetown and Ft. Worth, Texas.
Third Coast Bancshares, Inc. (Nasdaq: TCBX) has announced the promotions of Bill Bobbora to Executive Vice President and Chief Banking Officer, and Andrew Novarini to Executive Vice President and President of Community Banking. These appointments position them to drive the Commercial Banking group, leveraging their extensive experience in corporate and community banking across Texas markets such as Greater Houston, Dallas-Fort Worth, and Austin-San Antonio. CEO Bart Caraway expressed confidence in their leadership abilities to impact the bank's future positively.
Third Coast Bancshares, Inc. (NASDAQ: TCBX) announced that it will release its 2022 second quarter financial results on July 27, 2022, after market close. A conference call is scheduled for July 28, 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 August 4, 2022. Third Coast Bancshares operates primarily in Texas, focusing on commercial banking in major metropolitan areas.
Third Coast Bancshares, Inc. (Nasdaq: TCBX) announced an extension of its exchange offer for $82,250,000 in 5.500% Fixed-to-Floating Rate Subordinated Notes due 2032. The offer, initially set to expire on July 8, 2022, will now end on July 18, 2022. As of the last update, approximately 96.7% or $79,500,000 of the Old Notes have been tendered. The notes will be replaced with new notes, registered under the Securities Act of 1933. UMB Bank, N.A. acts as the exchange agent for the offer.
Third Coast Bancshares, Inc. (Nasdaq: TCBX) has joined Alloy Labs, a consortium aimed at enhancing technology adoption in community banks. This partnership allows Third Coast access to cutting-edge FinTech products and collaboration opportunities. The involvement in Alloy Labs positions Third Coast to innovate its technology platform, delivering cost-effective cloud-based solutions to meet customer demands. With over 50 members, Alloy Labs focuses on helping banks compete with larger institutions by modernizing their services and architecture. As of December 31, 2021, Third Coast reported $2.5 billion in assets.
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.
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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.
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