Loan & DebtMay 1, 2026, 04:34 PM
Third Coast Bancshares Extends Loan to 2028; Commitment to $70M
AI Summary
Third Coast Bancshares, Inc. entered into an Amendment to its Loan Agreement with American National Bank & Trust, effective March 10, 2026. The amendment extends the loan's maturity date from March 10, 2026, to March 10, 2028. Additionally, it increases the maximum commitment under the loan agreement from $55,000,000 to $70,000,000. As of the effective date, the company had outstanding borrowings of $54,875,000, collateralized by all issued and outstanding capital stock of Third Coast Bank.
Key Highlights
- Loan maturity date extended from March 10, 2026, to March 10, 2028.
- Maximum loan commitment increased from $55,000,000 to $70,000,000.
- Outstanding borrowings as of March 10, 2026, were $54,875,000.
- The loan is collateralized by 100% of Third Coast Bank's common stock.
- Quarterly interest payments will commence on June 10, 2026.