Third Coast Bancshares, Inc.

Third Coast Bancshares, Inc. reported strong financial results for the second quarter of 2026, with net income reaching $22.0 million and diluted earnings per share of $1.08, marking a record. The company achieved a double-digit increase in net interest income and significant loan and deposit growth. Additionally, Third Coast Bancshares completed the sale of Third Coast Commercial Capital, Inc., recognizing a $3.5 million gain.

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.

Third Coast Bancshares, Inc. announced that its Board of Directors approved the continuation of its share repurchase program. Under this program, the company is authorized to repurchase up to $30 million of its common stock. The program is set to expire on June 30, 2027, and management has informed the Federal Reserve Bank of Dallas.

Third Coast Bancshares, Inc. announced that its Board of Directors has declared a quarterly cash dividend of $17.0625 per share on its 6.75% Series A Convertible Non-Cumulative Preferred Stock. The dividend is scheduled to be paid on July 15, 2026, to shareholders of record at the close of business on June 30, 2026.

Third Coast Bancshares, Inc. shareholders approved the Amended and Restated 2019 Omnibus Incentive Plan at the Annual Meeting. This plan increases the number of shares reserved for issuance by 375,000 and adds new provisions like minimum vesting requirements and prohibitions on stock option repricing. Additionally, shareholders elected five directors to the board and ratified Whitley Penn LLP as the independent registered public accounting firm for 2026.

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.

Third Coast Bancshares, Inc. announced its financial results for the quarter ended March 31, 2026, through a press release issued on April 22, 2026. The company plans to host an investor call and webcast on Thursday, April 23, 2026, at 10:00 a.m. Central Time to discuss these results. A presentation containing additional financial information for analysts and investors has also been provided.