Third Coast Bancshares, Inc.

Listed Company

TCBXCIK 0001781730NYSEEmerging GrowthSavings Institutions, Not Federally CharteredTexasFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$66.29M

Total Assets

$5.34B

Equity

—

Shares Out

13.89M

Op. Cash Flow

$50.84M

Business

Third Coast Bancshares, Inc. is a bank holding company that provides commercial banking solutions to small and medium-sized businesses and professionals through its banking subsidiaries. It offers lending and deposit products, treasury management, merchant services, retail and commercial online and mobile banking, debit and credit cards, and investment and borrowing capabilities. The company operates through its bank subsidiary and related credit and risk-management functions, including underwriting, special assets, loan review, ALCO and enterprise risk management. It serves customers primarily in the Greater Houston, Dallas–Fort Worth and Austin–San Antonio metropolitan markets, with an additional branch in Detroit, Texas, and acquires deposits via branch, digital, direct marketing and national wholesale channels.

Summary from filing dated 2025-03-05

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loans, including fees	316	295	249	146	99
Investment securities available-for-sale	24	17	8	4	1
Investment securities held-to-maturity	7	—	—	—	—
Federal funds sold and other	7	16	9	4	686,000
Total interest income	354	328	267	154	101
Deposit accounts	150	160	115	31	9
FHLB advances and other borrowings	8	8	12	7	2
Total interest expense	159	168	127	37	—
Net interest (expense) income	195	161	140	116	91
Provision for credit losses	8	6	6	12	10
Net interest income after provision for credit losses	188	155	133	104	81
Services charges and fees	11	7	3	3	2
Earnings on bank-owned life insurance	3	2	2	1	567,000
(Loss) gain on sale of investment securities available-for-sale	−610,000	−4,000	482,000	0	—
Gain on sales of SBA loans	74,000	30,000	440,000	950,000	586,000
Other	413,000	1	2	2	538,000
Total noninterest income	14	11	8	7	5
Salaries and employee benefits	77	65	62	57	49
Occupancy and equipment expense	11	11	10	9	5
Legal and professional	7	6	8	7	5
Data processing and network expense	5	5	5	4	3
Regulatory assessments	5	4	3	3	1
Advertising and marketing	2	2	3	2	2
Software purchases and maintenance	5	5	4	1	852,000
Loan operations and other real estate owned expense	1	904,000	673,000	—	—
Telephone and communications	550,000	585,000	510,000	496,000	595,000
Other	5	5	5	4	2
Total noninterest expense	119	104	100	88	71
Net income before income tax expense	83	61	42	23	14
Income tax expense	17	14	8	5	3
Net income	66	48	33	19	11
Preferred stock dividends declared	5	5	5	−1	—
Net income available to common shareholders	62	43	29	17	11
Basic earnings per share	4.45	3.14	2.11	1.28	1.45
Diluted earnings per share	3.79	2.78	1.98	1.25	1.4

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	175	371	297	330	327
Federal funds sold	6	50	115	2	292,000
Total cash and cash equivalents	181	421	412	332	327
Interest bearing time deposits in other banks	267,000	356,000	—	—	131,000
Investment securities available for sale	383	384	178	176	26
Investment securities held-to-maturity	192	0	—	—	—
Loans, net of allowance for credit losses of $40,304 and $37,022 at December 31, 2025 and 2024, respectively	4,351	3,926	3,602	—	—
Accrued interest receivable	29	26	23	18	10
Premises and equipment, net	25	26	29	29	19
Other real estate owned	8	862,000	—	—	—
Bank-owned life insurance	76	68	66	61	27
Non-marketable equity securities, at cost	16	16	16	15	8
Deferred tax asset, net	6	11	9	6	4
Derivative assets	3	6	9	9	—
Right-of-use asset - operating leases	17	20	21	18	—
Goodwill and other intangible assets	19	19	19	—	—
Other assets	33	17	12	13	8
Total assets	5,341	4,942	4,396	3,773	2,499
Noninterest bearing	495	602	460	486	531
Interest bearing	4,132	3,708	3,344	2,750	1,610
Total deposits	4,627	4,310	3,803	3,236	2,141
Accrued interest payable	6	6	5	3	437,000
Derivative liabilities	3	9	11	9	—
Lease liability - operating leases	18	21	22	18	—
Other liabilities	37	24	24	14	7
Line of credit - Senior Debt	38	31	39	31	1
Note payable - Subordinated Debentures, net	81	81	81	80	—
Total liabilities	4,810	4,482	3,984	3,391	2,200
Commitments and contingent liabilities - See Notes 10 and 19	—	—	—	—	—
Series A Convertible Non-Cumulative Preferred Stock, $1 par value; 69,400 shares authorized and outstanding at December 31, 2025 and 2024, respectively	69,000	69,000	69,000	69,000	—
Common stock, $1 par value; 50,000,000 shares authorized; 13,969,517 and 13,848,242 issued; and 13,891,055 and 13,769,780 outstanding at December 31, 2025 and 2024, respectively	14	14	14	14	13
Additional paid-in capital	324	322	320	318	249
Retained earnings	183	122	79	53	36
Accumulated other comprehensive income	11	5	933,000	−2	1
Treasury stock: at cost; 78,462 shares at December 31, 2025 and 2024, respectively	−1	−1	−1	−1	−1
Total shareholders' equity	531	461	412	382	299
Total liabilities & shareholders' equity	5,341	4,942	4,396	3,773	2,499

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income	66	48	33	19	11
Changes in deferred tax, net	3	−3	−3	−1	−380,000
Share based compensation expense	2	2	2	1	659,000
(Write-up) write-down of other real estate owned	−219,000	57,000	0	—	—
Write-down of fixed assets	9,000	—	—	—	—
Accretion of discount on securities, net	−2	−1	−409,000	392,000	34,000
Accretion of gain on terminated cash flow hedges	−3	−3	−2	−401,000	−180,000
Accretion of SBA Paycheck Protection Program fees	—	—	−23,000	−2	−19
Accretion of loan fees	−17	−8	−4	−3	—
Amortization of subordinated debt origination costs	206,000	206,000	205,000	154,000	—
Depreciation and amortization	5	5	4	3	—
Net change in operating leases	27,000	196,000	504,000	337,000	—
Net change in derivative assets and liabilities	579,000	−298,000	310,000	8,000	—
Accrued interest receivable and other assets	−21	−8	−4	−13	—
Accrued interest payable and other liabilities	12	504,000	10	8	337,000
Net cash provided by operating activities	51	35	39	22	5
Net decrease (increase) in interest bearing deposits in other banks	89,000	−356,000	—	131,000	−2,000
Net (purchase) sale of non-marketable equity securities	−444,000	61,000	−1	−8	−3
Purchases	−5,234	−4,278	−3,117	−2,159	−1,997
Sales	74	36	14	—	—
Maturities, calls and principal paydowns	5,170	4,039	3,104	2,002	1,997
Purchases of investment securities held-to-maturity	−192	—	—	—	—
Proceeds from termination of derivative instruments	2	6	5	3	945,000
Net originations on loans held for investment	−423	−322	−528	−1,034	−494
Net additions to bank premises and equipment	−3	−2	−3	—	—
Proceeds from sales of foreclosed assets	655,000	—	—	—	1
Purchase of bank owned life insurance	−5	—	−3	−33	—
Net cash used in investing activities	−610	−521	−530	−1,240	−500
Net increase in deposits	316	507	567	1,095	508
Net proceeds from (repayment of) line of credit - senior debt	7	−8	8	30	−20
Registration costs for securities issued in private placement	—	−65,000	—	—	—
Proceeds from stock warrants exercised	—	—	47,000	—	19,000
Forfeiture of restricted stock grants withheld to satisfy tax obligations	−32,000	−42,000	−22,000	—	—
Proceeds from stock options exercised	779,000	656,000	—	672,000	995,000
Dividends paid on Series A preferred stock	−5	−5	−5	−221,000	—
Net cash provided by financing activities	319	495	570	1,223	619
Change in cash and cash equivalents	−240	9	80	5	123
Cash paid for interest	159	166	125	35	11
Cash paid for federal income taxes	22	15	9	—	—
Cash paid for state income taxes, net of refunds	821,000	597,000	—	—	—
Loans transferred to other real estate owned, net	8	919,000	—	—	—
Right of use lease assets obtained in exchange for operating lease liabilities	381,000	877,000	6	19	—
Reclassification of investment securities from held-to-maturity to available-for-sale	14	—	—	—	—

Filings

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