DivestmentJul 13, 2026, 08:11 AM
Third Coast Bancshares Sells TCCC Assets for $27.5M, Gains $3.5M
AI Summary
Third Coast Bancshares, Inc. announced the sale of substantially all of the assets of its wholly-owned subsidiary, Third Coast Commercial Capital, Inc. (TCCC), to Gulf Coast Bank & Trust Company. The transaction, effective June 25, 2026, provided approximately $27.5 million in consideration at closing and resulted in a $3.5 million gain. Third Coast will maintain a strategic partnership with Gulf Coast for factoring solutions and will concentrate on its core commercial banking, asset-based lending, and specialty lending platforms.
Key Highlights
- Third Coast Bancshares completed the sale of substantially all assets of its subsidiary, Third Coast Commercial Capital, Inc. (TCCC).
- The transaction was effective as of June 25, 2026.
- Total consideration received at closing was approximately $27.5 million.
- The company recognized a gain of $3.5 million from the sale.
- Third Coast will continue to offer factoring solutions through a strategic partnership with Gulf Coast Bank & Trust Company.
- The company will focus on its core commercial banking, asset-based lending, and specialty lending platforms.
Price Impact
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