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Third Coast Bancshares, Inc. operates as the bank holding company for Third Coast Bank that provides various commercial banking solutions to small and medium-sized businesses and professionals in Texas, the United States. The company's deposit products include checking, money market, savings, and individual retirement accounts, as well as certificates of deposit. Its loan portfolio consists of commercial and residential real estate loans; construction, development and other loans; commercial and industrial loans; and farmland, consumer, and agricultural loans, as well as lease financing and bond anticipation notes, as well as financial products and services. The company also provides retail and commercial online banking platforms, mobile banking apps, treasury management solutions, merchant card services, and customer digital solutions, as well as debit and credit cards. In addition, it offers state and municipal and mortgage-backed securities, agency collateralized mortgage obligations, the U.S. treasury bonds, and corporate bonds. The company was founded in 2008 and is headquartered in Humble, Texas.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $208M | - | $66M | $48M | 12.5% | 21.9% | 39.1% |
| 2024 | $170M | - | $48M | $33M | 10.3% | 15.9% | 42.7% |
| 2023 | $147M | - | $33M | $36M | 8.1% | 19.9% | 79.0% |
| 2022 | $123M | - | $19M | $10M | 4.9% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 122.69 | 147.06 | 170.47 | 207.74 |
| Pretax Income | 23.17 | 41.61 | 61.35 | 82.75 |
| Tax Provision | 4.51 | 8.21 | 13.68 | 16.45 |
| Net Income | 18.66 | 33.40 | 47.67 | 66.29 |
| Net Income Common Stockholders | 17.24 | 28.66 | 42.92 | 61.54 |
| Interest Expense | 37.49 | 127.02 | 167.60 | 158.81 |
| Interest Income | 153.95 | 266.54 | 328.36 | 354.03 |
| Selling General And Administration | 58.42 | 64.84 | 66.82 | 79.33 |
| Normalized Income | 18.66 | 33.40 | 47.67 | 66.29 |
| Basic EPS | 1.28 | 2.11 | 3.14 | 4.45 |
| Diluted EPS | 1.25 | 1.98 | 2.78 | 3.79 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.20 | 0.20 | 0.22 | 0.20 |
| Total Unusual Items | -0.35 | 0 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | -0.35 | 0 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | 18.66 | 33.40 | 47.67 | 66.29 |
| Reconciled Depreciation | 2.56 | 3.95 | 4.62 | 4.75 |
| Net Interest Income | 116.45 | 139.53 | 160.76 | 195.22 |
| Net Income From Continuing And Discontinued Operation | 18.66 | 33.40 | 47.67 | 66.29 |
| Diluted Average Shares | 13.75 | 16.88 | 17.13 | 17.48 |
| Basic Average Shares | 13.47 | 13.58 | 13.66 | 13.84 |
| Diluted NI Availto Com Stockholders | 17.24 | 28.66 | 42.92 | 61.54 |
| Preferred Stock Dividends | 1.42 | 4.74 | 4.75 | 4.75 |
| Net Income Including Noncontrolling Interests | 18.66 | 33.40 | 47.67 | 66.29 |
| Net Income Continuous Operations | 18.66 | 33.40 | 47.67 | 66.29 |
| Gain On Sale Of Security | 0 | 0.48 | 0 | -0.61 |
| Selling And Marketing Expense | 1.91 | 2.63 | 1.71 | 2.14 |
| General And Administrative Expense | 56.51 | 62.22 | 65.12 | 77.19 |
| Other Gand A | 0 | 0 | 0 | 0 |
| Salaries And Wages | 56.51 | 62.22 | 65.12 | 77.19 |
| Operating Revenue | 122.69 | 147.06 | 170.47 | 207.74 |
| Occupancy And Equipment | 9.54 | 13.66 | 15.98 | 15.89 |
| Professional Expense And Contract Services Expense | 6.99 | 7.78 | 5.63 | 7.46 |
| Other Non Interest Expense | 12.37 | 12.84 | 14.99 | 14.72 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Third Coast Bancshares, Inc.this co. | TCBX | $617M | 9.58↓ discount | 0.95 | 12.5% | - |
| Shore Bancshares, Inc. | SHBI | $640M | 10.17 | 1.08 | 10.1% | - |
| GCM Grosvenor Inc. | GCMG | $637M | 25.52 | 24.09 | 35.6% | 7.26 |
| Hingham Institution for Savings | HIFS | $620M | 11.47 | 1.29 | 11.4% | - |
| Red River Bancshares, Inc. | RRBI |
| $614M |
| 14.63 |
| 1.68 |
| 11.7% |
| - |
| Greenlight Capital Re, Ltd. | GLRE | $609M | 8.38 | 0.87 | 10.6% | 6.88 |
| Northpointe Bancshares, Inc. | NPB | $600M | 7.76 | 1.05 | 14.7% | - |
| California BanCorp | BCAL | $598M | 10.16 | 1.05 | 10.9% | - |
| Arrow Financial Corporation | AROW | $596M | 13.61 | 1.37 | 10.2% | - |
| Peer Median | - | 10.82 | 1.19 | 11.2% | 7.07 | |