Third Coast Celebrates its 1,000th day as a Nasdaq listed company by Ringing the Nasdaq Closing Bell

Rhea-AI Summary

Third Coast Bancshares (NASDAQ: TCBX) is celebrating its 1,000th day as a Nasdaq-listed company by ringing the closing bell at the Nasdaq MarketSite in Times Square, New York on August 6, 2024. Since its IPO on November 12, 2021, the company has experienced significant growth:

• Assets increased from $2.5 billion to $4.5 billion
• Total loans grew from $2.1 billion to $3.8 billion
• Total deposits rose from $2.1 billion to $3.9 billion
• Community banking offices expanded from 11 to 18

CEO Bart Caraway expressed gratitude to stakeholders and confidence in the company's future growth and profitability. Third Coast Bank operates primarily in the Greater Houston, Dallas-Fort Worth, and Austin-San Antonio markets.

Completed successful IPO on November 12, 2021

Expanded community banking offices from 11 in 2021 to 18 today

HOUSTON, Aug. 6, 2024 /PRNewswire/ -- Third Coast Bancshares, Inc. (NASDAQ: TCBX) (the "Company," "Third Coast," "we," "us," or "our"), the bank holding company for Third Coast Bank operating primarily in the Greater Houston, Dallas-Fort Worth, and Austin-San Antonio markets, today announced that its Chairman and Chief Executive Officer, Bart Caraway, and other members of the Third Coast management team will ring the closing bell at the Nasdaq MarketSite in Times Square, New York on Tuesday, August 6, 2024.

"Today we celebrate another milestone for our Company," said Mr. Caraway. "This closing bell ceremony marks an important moment for Third Coast's team as we mark our 1,000^th day as a Nasdaq listed company, which has played a key role in broadening the exposure of our Company within the investment community. Since our IPO on November 12, 2021, we have almost doubled in size from $2.5 billion to $4.5 billion in assets, our total loans have grown from $2.1 billion at December 31, 2021 to $3.8 billion at June 30, 2024, and our total deposits have increased from $2.1 billion to $3.9 billion over that same period. 

"I want to thank our stockholders, employees, board of directors, and communities for their commitment and dedication to Third Coast Bank. We are confident that our continued achievements will accelerate our growth and profitability, delivering long-term value to all of our stakeholders," concluded Caraway.

About Third Coast Bancshares, Inc.

Third Coast Bancshares, Inc. is a commercially focused, Texas-based bank holding company operating primarily in the Greater Houston, Dallas-Fort Worth, and Austin-San Antonio markets through its wholly owned subsidiary, Third Coast Bank. Founded in 2008 in Humble, Texas, Third Coast Bank conducts banking operations through 18 branches encompassing the four largest metropolitan areas in Texas. Please visit https://www.thirdcoast.bank for more information.

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, 2023 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

FAQ

When did Third Coast Bancshares (TCBX) go public?

Third Coast Bancshares (TCBX) completed its successful IPO on November 12, 2021.

How much has Third Coast Bancshares (TCBX) grown since its IPO?

Since its IPO, Third Coast Bancshares (TCBX) has nearly doubled in size, with assets growing from $2.5 billion to $4.5 billion, total loans increasing from $2.1 billion to $3.8 billion, and total deposits rising from $2.1 billion to $3.9 billion as of June 30, 2024.

How many community banking offices does Third Coast Bancshares (TCBX) currently operate?

As of August 6, 2024, Third Coast Bancshares (TCBX) operates 18 community banking offices, up from 11 in 2021.

What markets does Third Coast Bancshares (TCBX) primarily serve?

Third Coast Bancshares (TCBX) primarily operates in the Greater Houston, Dallas-Fort Worth, and Austin-San Antonio markets.

What event is Third Coast Bancshares (TCBX) celebrating on August 6, 2024?

Third Coast Bancshares (TCBX) is celebrating its 1,000th day as a Nasdaq-listed company by ringing the closing bell at the Nasdaq MarketSite in Times Square, New York on August 6, 2024.