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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% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 122.69 | 147.06 | 170.48 | 207.74 |
| Operating Revenue | - | 122.69 | 147.06 | 170.48 | 207.74 |
| Selling General And Administration | - | 58.42 | 64.84 | 66.82 | 79.33 |
| Interest Income | - | 153.95 | 266.54 | 328.36 | 354.03 |
| Interest Expense | - | 37.49 | 127.02 | 167.60 | 158.81 |
| Net Interest Income | - | 116.45 | 139.52 | 160.76 | 195.22 |
| Pretax Income | - | 23.17 | 41.61 | 61.35 | 82.74 |
| Tax Provision | - | 4.51 | 8.21 | 13.68 | 16.45 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 18.66 | 33.40 | 47.67 | 66.29 |
| Net Income From Continuing And Discontinued Operation | - | 18.66 | 33.40 | 47.67 | 66.29 |
| Net Income From Continuing Operation Net Minority Interest | - | 18.66 | 33.40 | 47.67 | 66.29 |
| Net Income | - | 18.66 | 33.40 | 47.67 | 66.29 |
| Net Income Common Stockholders | - | 17.24 | 28.66 | 42.92 | 61.54 |
| Net Income Including Noncontrolling Interests | - | 18.66 | 33.40 | 47.67 | 66.29 |
| Normalized Income | - | 18.66 | 33.40 | 47.67 | 66.29 |
| Diluted NI Availto Com Stockholders | - | 17.24 | 28.66 | 42.92 | 61.54 |
| Basic Average Shares | - | 13.47 | 13.58 | 13.66 | 13.84 |
| Diluted Average Shares | - | 13.75 | 16.88 | 17.13 | 17.48 |
| Reconciled Depreciation | - | 2.56 | 3.95 | 4.62 | 4.75 |
| Total Unusual Items | -0.34 | -0.35 | 0 | - | - |
| Total Unusual Items Excluding Goodwill | -0.34 | -0.35 | 0 | - | - |
| Preferred Stock Dividends | - | 1.42 | 4.74 | 4.75 | 4.75 |
| Gain On Sale Of Security | - | 0 | 0.48 | 0 | -0.61 |
| General And Administrative Expense | - | 56.51 | 62.22 | 65.12 | 77.19 |
| Other Gand A | 5.61 | - | - | - | - |
| Salaries And Wages | - | 56.51 | 62.22 | 65.12 | 77.19 |
| Selling And Marketing Expense | - | 1.91 | 2.63 | 1.71 | 2.14 |
| 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 | $652M | 9.84↓ discount | 1.23 | 12.5% | - |
| Community West Bancshares | CWBC | $661M | 17.31 | 1.61 | 9.3% | - |
| Tiptree Inc. | TIPT | $656M | 18.79 | 1.29 | 6.9% | - |
| Bit Digital, Inc. | BTBT | $646M | -8.04 | 0.90 | -11.2% | -14.07 |
| GCM Grosvenor Inc. | GCMG | $644M |
| - |
| - |
| - |
| - |
| - |
| - |
| 14.19 |
| 23.85 |
| 168.1% |
| 4.84 |
| Heritage Insurance Holdings, Inc. | HRTG | $642M | 3.28 | 1.27 | 38.7% | - |
| Hippo Holdings Inc. | HIPO | $635M | 11.01 | 1.46 | 13.2% | - |
| Hingham Institution for Savings | HIFS | $634M | 11.62 | 1.32 | 11.4% | - |
| Washington Trust Bancorp, Inc. | WASH | $633M | 12.12 | 1.17 | 9.6% | - |
| Peer Median | - | 11.87 | 1.31 | 10.5% | -4.62 | |