Monitor the Great Plains deal timeline—shareholder votes and S-4 filing will be key catalysts. The Q4 margin guidance of ~3.80% and expected securitization with better fee income could provide upside. Underlying loan growth and NIB deposit momentum are positive, but elevated merger expenses and NIM compression warrant caution.
Price Chart
Executive Summary
Third Coast Bancshares reported Q3 2026 net income of $19.0M ($0.93 diluted EPS), down from $22.0M in Q2 due to $3.2M in merger-related expenses and a $3.5M prior-quarter gain on sale of factoring business. Excluding those items, adjusted net income was $21.6M ($1.06 diluted). The company is actively pursuing its all-stock acquisition of Great Plains Bancshares (~$239.6M value), expected to close between February and April 2027, which would create a ~$9B asset franchise. Underlying loan growth was strong at $144M+ (ex-securitization), and tangible book value per share hit a new high of $33.31.
Key Financial Metrics
Key Facts
- Q3 2026 net income of $19.0M vs $22.0M in Q2 2026 and $18.1M in Q3 2025
- Diluted EPS of $0.93 vs $1.08 in Q2 2026 and $1.03 in Q3 2025
- Adjusted net income (ex-$3.2M merger costs) was $21.6M or $1.06 diluted EPS
- Net interest margin of 3.70% vs 3.83% in Q2 2026 and 4.10% in Q3 2025
- Gross loans of $5.49B; underlying growth of $144M+ excluding $87M securitization sale
- Non-interest-bearing deposits rose $78M to $721M, 12.2% of total deposits
- Tangible book value per share reached $33.31, a new high
- All-stock acquisition of Great Plains Bancshares valued at ~$239.6M, expected close Q1 2027
- Combined pro forma assets of ~$9B
- Credit stable: NPLs 0.53% of loans, net recoveries for third consecutive quarter
Financial Impact
Q3 net income of $19.0M; adjusted net income of $21.6M; Great Plains deal valued at ~$239.6M in stock
Risk Factors
- Great Plains deal may close later than expected (April 1 vs Feb 1) or face regulatory hurdles
- Net interest margin compression continued to 3.70% from 4.10% YoY; Q4 guidance of 3.80% may not hold
- Merger-related expenses will persist through deal close, pressuring near-term earnings
- Loan growth may slow as integration focus diverts management attention
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 425 Filing (Primary) | 0001193125-26-430506 |
| Document: 0001193125-26-430506-index-headers.html | 0001193125-26-430506 |
| Document: 0001193125-26-430506-index.html | 0001193125-26-430506 |
| Document: 0001193125-26-430506.txt | 0001193125-26-430506 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 3d ago | 425 | $39.80 | awaiting T+1 | — | $40.33 (+1.34%) |
Oct 21, 2026 5d ago | 425 | $40.00 $39.80 | ▲ +0.50% | ▼ −0.02% | $40.33 (−0.84%) |
Oct 21, 2026 5d ago | 8-K | $40.00 $39.80 | ▼ −0.50% | ▲ +0.02% | $40.33 (+0.84%) |
Oct 13, 2026 13d ago | 425 | $41.20 $41.40 | ▲ +0.49% | ▲ +0.20% | $40.33 (−2.10%) |
Oct 13, 2026 13d ago | 8-K | $41.20 $41.40 | ▲ +0.49% | ▲ +0.20% | $40.33 (−2.10%) |
Oct 9, 2026 17d ago | 425 | $41.70 $41.78 | ▲ +0.19% | ▲ +0.20% | $40.33 (−3.27%) |
Oct 9, 2026 17d ago | 425 | $41.70 $41.78 | ▲ +0.19% | ▲ +0.20% | $40.33 (−3.27%) |
Oct 7, 2026 20d ago | 425 | $41.27 $41.77 | ▲ +1.21% | ▲ +1.63% | $40.33 (−2.27%) |
Oct 7, 2026 20d ago | 8-K | $41.27 $41.77 | ▲ +1.21% | ▲ +1.63% | $40.33 (−2.27%) |
Sep 18, 2026 5w ago | 8-K | $44.05 $43.56 | ▼ −1.11% | ▼ −1.10% | $40.33 (−8.43%) |
US Market Status
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