1. Investment Snapshot
2. Thesis
3. Valuation & Price Target
4. Business & Product Moat
5. People & Governance
6. Market & Macro
7. Financial Quality
8. Risk Register
9. Prediction Market
10. 𝕏 Posts
Discussion
1. Investment Snapshot
2. Thesis
3. Valuation & Price Target
4. Business & Product Moat
5. People & Governance
6. Market & Macro
7. Financial Quality
8. Risk Register
9. Prediction Market
10. 𝕏 Posts
Discussion
1. Investment Snapshot
2. Valuation
Discussion
Symbol
TCBX
Event Date
2021-11-09
Sector
Financials
Subsector
Banks
Offer Range
$25.00-$25.00
Shares Offered
3.5M
13.35M
$331.5M
26.2%
Implied Upside vs Midpoint
Description
We are a commercially-focused, Texas-based bank holding company operating primarily in the Greater Houston, Dallas-Fort Worth, and Austin-San Antonio markets through our wholly owned subsidiary, Third Coast Bank, SSB, or the Bank, a Texas state savings bank, and the Bank’s wholly owned subsidiary, Third Coast Commercial Capital, Inc., or TCCC, a Texas corporation and commercial finance company. Since the Bank’s founding in 2008, we have been able to successfully execute our organically-focused strategic plan by attracting talented professionals and providing superior banking services through our relationship managers. We currently operate twelve branch locations, with seven branches in the Greater Houston market, two branches in the Dallas-Fort Worth market, two branches in the Austin-San Antonio market, and one branch in Detroit, Texas. As of June 30, 2021, we had, on a consolidated basis, total assets of $2.01 billion, total loans of $1.55 billion, total deposits of $1.78 billion and total shareholders’ equity, including ESOP-owned shares, of $137.8 million. Our management team and board of directors are led by our founder, Chairman, President and Chief Executive Officer, Bart O. Caraway. Under Mr. Caraway’s leadership, we have experienced substantial and consistent growth. We believe our team-oriented culture, combined with a diverse suite of financial products and services, delivers the sophistication of a larger financial institution and allows our relationship managers to attract and retain customers and drive growth. We strive to know our customers better than our competition and believe our greatest opportunities for organic growth stem from the ability of our relationship managers to provide a greater level of attentiveness to customers and prospects than larger banks and our peers. As a result of consolidation among Texas metropolitan banks, we believe we are one of the few remaining locally-based banks in our markets that are dedicated to providing personalized service to small and medium-sized businesses with sophisticated banking needs. We intend to focus on continued quality organic growth, profitability enhancement through the leveraging of our current staff and infrastructure, engaging in strategic hiring of experienced bankers, expanding our markets through de novo branching and strategic whole-bank and branch acquisitions to increase shareholder value. --- Our principal executive offices are located at 20202 Highway 59 North, Suite 190, Humble, Texas 77338, and our telephone number at that address is (281) 446-7000. Our website is www.tcbssb.com.
Third Coast Bancshares, Inc. annual income statement and balance sheet, FY 2022 to FY 2025, as reported in SEC filings.
| Metric | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Net income | $18.7M | $33.4M | $47.7M | — |
| Metric | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Total assets | — | — | $4.9B | $5.3B |
| Total liabilities | — | — | $4.5B | $4.8B |
| Total equity | — | $412M | $461M | $531M |
| Cash & equivalents | — | — | $371M | $175M |