Third Coast Bancshares, Inc. Announces Sale of Third Coast Commercial Capital, Inc. Assets
Rhea-AI Summary
Third Coast Bancshares (NYSE: TCBX) closed the sale of substantially all assets of its subsidiary Third Coast Commercial Capital to Gulf Coast Bank & Trust, effective June 25, 2026, for approximately $27.5 million, generating a $3.5 million gain and a structured ongoing revenue share.
According to Third Coast, it will continue offering factoring solutions through a strategic partnership with Gulf Coast while concentrating on core commercial banking, asset-based lending and specialty lending platforms.
Positive
- Asset sale consideration of approximately $27.5 million at closing
- Recognized gain of about $3.5 million from the transaction
- Structured ongoing revenue share with Gulf Coast following the asset sale
- Capital benefits and refocus toward core commercial, asset-based and specialty lending
Negative
- None.
News Explained
The completed sale converts TCCC’s portfolio into approximately $27.5 million at closing while preserving factoring access through a Gulf Coast partnership.
On
The sale transfers the existing factoring-asset portfolio to Gulf Coast and replaces Third Coast’s ownership of those assets with closing consideration, while the company retains an ongoing factoring relationship through the partnership.
Using the first-quarter operating cash outflow as the comparison basis, the
The release does not quantify the revenue-share amount or timing, so the ongoing economics of that arrangement remain unspecified in this disclosure.
Sources and calculations
- Third Coast Bancshares Announces Sale of Third Coast Commercial Capital Assets (2026-07-13)
- Third Coast Bancshares first-quarter 2026 financial results (2026-03-31)
- Offering gross vs quarterly operating cash outflow, in days of cash use $27,500,000 / ($38,700,000 / 90) = [object Object]
- Cash and equivalents vs quarterly operating cash outflow, in days of cash use $425,174,000 / ($38,700,000 / 90) = [object Object]
News Market Reaction – TCBX
In the Jul 13 session, TCBX gained 2.01%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jul 02 | Share repurchase plan | Positive | +1.1% | Board approved up to $30M common stock repurchase through June 30, 2027. |
| Jul 01 | Earnings date notice | Neutral | -2.3% | Set dates for 2Q26 earnings release and follow-up conference call. |
| Jun 18 | Preferred dividend | Positive | -0.5% | Declared $17.0625 per-share dividend on 6.75% Series A preferred stock. |
| Apr 24 | Analyst update | Neutral | +0.5% | Stonegate reviewed 1Q26 results and Keystone merger costs and synergies. |
| Apr 22 | 1Q26 earnings | Positive | -4.7% | Reported Q1 2026 financials and completion of Keystone merger with added assets. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent news has often seen share price moves diverge from seemingly shareholder-friendly announcements like buybacks and dividends.
Key Terms
factoring solutions financial
asset-based lending financial
accounts receivable financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
"This transaction represents an important step in the continued evolution of our balance sheet strategy," said Bart Caraway, Founder, Chairman, President and CEO of Third Coast. "The sale of our TCCC assets allows us to monetize the existing portfolio while maintaining a meaningful ongoing relationship with a strong, experienced partner. We believe this structure provides immediate capital benefits while preserving our ability to continue supporting clients who value access to factoring solutions."
The transaction provides for total consideration of approximately
Additionally, Third Coast will continue to focus on its core commercial banking, asset-based lending and specialty lending platforms, where the Company sees opportunities for continued growth and differentiation.
About Third Coast Bancshares, Inc.
Third Coast Bancshares, Inc. is a commercially focused,
About Gulf Coast Bank & Trust Company
With over
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties and are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. These statements are often, but not always, made through the use of words or phrases such as "may," "should," "could," "predict," "potential," "believe," "looking ahead," "will likely result," "expect," "continue," "will," "anticipate," "seek," "estimate," "intend," "plan," "projection," "would" and "outlook," or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about our industry, management's beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. There are or will be important factors that could cause our actual results to differ materially from those indicated in these forward-looking statements, including, but not limited to, the following: interest rate risk and fluctuations in interest rates; market conditions and economic trends generally and in the banking industry; our ability to maintain important deposit relationships; our ability to grow or maintain our deposit base; our ability to implement our expansion strategy; our ability to pay dividends on our Series A Preferred Stock; credit risk associated with our business; and changes in key management personnel. For a discussion of additional factors that could cause our actual results to differ materially from those described in the forward-looking statements, please see the risk factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2025 filed with the U.S. Securities and Exchange Commission (the "SEC"), and our other filings with the SEC.
The foregoing factors should not be construed as exhaustive and should be read together with the other cautionary statements included in this press release. If one or more events related to these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may differ materially from what we anticipate. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and we do not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. New factors emerge from time to time, and it is not possible for us to predict which will arise. In addition, we cannot assess the impact of each factor on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.
Contact:
Ken Dennard / Natalie Hairston
Dennard Lascar Investor Relations
(713) 529-6600
TCBX@dennardlascar.com
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SOURCE Third Coast Bancshares