Monitor regulatory approval timeline and Great Plains' Adjusted Equity calculation at closing, as the Exchange Ratio is subject to downward adjustment if equity falls below $153.3 million. The 27.6% locked-up vote significantly de-risks shareholder approval.
Price Chart
Executive Summary
Third Coast Bancshares (TCBX) has entered into a definitive agreement to acquire Great Plains Bancshares, an Oklahoma-based bank holding company, in an all-stock transaction valued at approximately 5.57 million TCBX shares. The deal is structured as a tax-free reorganization and is expected to close by September 30, 2027, subject to regulatory and shareholder approvals. Great Plains shareholders holding ~27.6% of outstanding stock have already agreed to vote in favor via a voting agreement.
Key Financial Metrics
Key Facts
- TCBX to acquire Great Plains Bancshares in an all-stock merger valued at 5,570,352 shares of TCBX common stock
- Great Plains shareholders owning ~27.6% of outstanding stock have entered into a voting agreement to support the deal
- Minimum Adjusted Equity condition of $153.3 million for Great Plains; closing threshold of $141.3 million
- Termination fee of $11,981,827 payable by Great Plains under certain circumstances
- Deal expected to close by September 30, 2027, subject to regulatory and shareholder approvals
- TCBX and Third Coast Bank will each add two directors from Great Plains' board post-closing
- Great Plains' phantom stock and salary continuation agreements to be terminated at closing
Financial Impact
All-stock acquisition of Great Plains Bancshares for 5,570,352 TCBX shares; deal value not explicitly stated but based on fixed share count
Risk Factors
- Regulatory approval risk from Federal Reserve, FDIC, and OCC
- Downward adjustment to Exchange Ratio if Great Plains' Adjusted Equity falls below $153.3 million
- Integration risk combining two bank holding companies across Texas and Oklahoma
- Shareholder approval risk for TCBX share issuance
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-420491 |
| Document: d160832d8k.htm | 0001193125-26-420491 |
| Document: d160832dex101.htm | 0001193125-26-420491 |
| Document: d160832dex102.htm | 0001193125-26-420491 |
| Document: 0001193125-26-420491-index-headers.html | 0001193125-26-420491 |
| Document: 0001193125-26-420491-index.html | 0001193125-26-420491 |
| Document: 0001193125-26-420491.txt | 0001193125-26-420491 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 4d ago | 425 | $40.12 $40.17 | ▲ +0.12% | ▼ −0.44% | $40.17 (+0.12%) |
Oct 21, 2026 6d ago | 425 | $40.00 $39.80 | ▲ +0.50% | ▼ −0.02% | $40.17 (−0.42%) |
Oct 21, 2026 6d ago | 8-K | $40.00 $39.80 | ▼ −0.50% | ▲ +0.02% | $40.17 (+0.42%) |
Oct 13, 2026 14d ago | 425 | $41.20 $41.40 | ▲ +0.49% | ▲ +0.20% | $40.17 (−2.50%) |
Oct 13, 2026 14d ago | 8-K | $41.20 $41.40 | ▲ +0.49% | ▲ +0.20% | $40.17 (−2.50%) |
Oct 9, 2026 18d ago | 425 | $41.70 $41.78 | ▲ +0.19% | ▲ +0.20% | $40.17 (−3.67%) |
Oct 9, 2026 18d ago | 425 | $41.70 $41.78 | ▲ +0.19% | ▲ +0.20% | $40.17 (−3.67%) |
Oct 7, 2026 20d ago | 425 | $41.27 $41.77 | ▲ +1.21% | ▲ +1.63% | $40.17 (−2.67%) |
Oct 7, 2026 20d ago | 8-K | $41.27 $41.77 | ▲ +1.21% | ▲ +1.63% | $40.17 (−2.67%) |
Sep 18, 2026 5w ago | 8-K | $44.05 $43.56 | ▼ −1.11% | ▼ −1.10% | $40.17 (−8.81%) |
US Market Status
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