Completed successful IPO on November 12, 2021
Expanded community banking offices from 11
in 2021 to 18 today
HOUSTON, Aug. 6, 2024
/PRNewswire/ -- Third Coast Bancshares, Inc. (NASDAQ: TCBX)
(the "Company," "Third Coast," "we," "us," or "our"), the bank
holding company for Third Coast Bank operating primarily in the
Greater Houston, Dallas-Fort Worth, and Austin-San Antonio markets, today announced that
its Chairman and Chief Executive Officer, Bart Caraway, and other members of the Third
Coast management team will ring the closing bell at the Nasdaq
MarketSite in Times Square, New
York on Tuesday, August 6,
2024.
"Today we celebrate another milestone for our Company," said Mr.
Caraway. "This closing bell ceremony marks an important moment for
Third Coast's team as we mark our 1,000th day as a
Nasdaq listed company, which has played a key role in broadening
the exposure of our Company within the investment community. Since
our IPO on November 12, 2021, we have
almost doubled in size from $2.5
billion to $4.5 billion in
assets, our total loans have grown from $2.1
billion at December 31, 2021
to $3.8 billion at June 30, 2024, and our total deposits have
increased from $2.1 billion to
$3.9 billion over that same
period.
"I want to thank our stockholders, employees, board of
directors, and communities for their commitment and dedication to
Third Coast Bank. We are confident that our continued achievements
will accelerate our growth and profitability, delivering long-term
value to all of our stakeholders," concluded Caraway.
About Third Coast Bancshares, Inc.
Third Coast Bancshares, Inc. is a commercially focused,
Texas-based bank holding company
operating primarily in the Greater
Houston, Dallas-Fort Worth,
and Austin-San Antonio markets
through its wholly owned subsidiary, Third Coast Bank. Founded in
2008 in Humble, Texas, Third Coast
Bank conducts banking operations through 18 branches encompassing
the four largest metropolitan areas in Texas. Please visit
https://www.thirdcoast.bank for more information.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
that are subject to risks and uncertainties and are made pursuant
to the safe harbor provisions of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. These forward-looking statements reflect our
current views with respect to, among other things, future events
and our financial performance. These statements are often, but not
always, made through the use of words or phrases such as "may,"
"should," "could," "predict," "potential," "believe," "looking
ahead," "will likely result," "expect," "continue," "will,"
"anticipate," "seek," "estimate," "intend," "plan," "projection,"
"would" and "outlook," or the negative version of those words or
other comparable words or phrases of a future or forward-looking
nature. These forward-looking statements are not historical facts,
and are based on current expectations, estimates and projections
about our industry, management's beliefs and certain assumptions
made by management, many of which, by their nature, are inherently
uncertain and beyond our control. Accordingly, we caution you that
any such forward-looking statements are not guarantees of future
performance and are subject to risks, assumptions and uncertainties
that are difficult to predict. Although we believe that the
expectations reflected in these forward-looking statements are
reasonable as of the date made, actual results may prove to be
materially different from the results expressed or implied by the
forward-looking statements. There are or will be important factors
that could cause our actual results to differ materially from those
indicated in these forward-looking statements, including, but not
limited to, the following: interest rate risk and fluctuations in
interest rates; market conditions and economic trends generally and
in the banking industry; our ability to maintain important deposit
relationships; our ability to grow or maintain our deposit base;
our ability to implement our expansion strategy; our ability to pay
dividends on our Series A Preferred Stock; credit risk associated
with our business; and changes in key management personnel. For a
discussion of additional factors that could cause our actual
results to differ materially from those described in the
forward-looking statements, please see the risk factors discussed
in our Annual Report on Form 10-K for the year ended December 31, 2023 filed with the U.S. Securities
and Exchange Commission (the "SEC"), and our other filings with the
SEC.
The foregoing factors should not be construed as exhaustive
and should be read together with the other cautionary statements
included in this press release. If one or more events related to
these or other risks or uncertainties materialize, or if our
underlying assumptions prove to be incorrect, actual results may
differ materially from what we anticipate. Accordingly, you should
not place undue reliance on any such forward-looking statements.
Any forward-looking statement speaks only as of the date on which
it is made, and we do not undertake any obligation to publicly
update or review any forward-looking statement, whether as a result
of new information, future developments or otherwise. New factors
emerge from time to time, and it is not possible for us to predict
which will arise. In addition, we cannot assess the impact of each
factor on our business or the extent to which any factor, or
combination of factors, may cause actual results to differ
materially from those contained in any forward-looking
statements.
Contact:
Ken Dennard / Natalie Hairston
Dennard Lascar Investor
Relations
(713) 529-6600
TCBX@dennardlascar.com
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content:https://www.prnewswire.com/news-releases/third-coast-celebrates-its-1-000th-day-as-a-nasdaq-listed-company-by-ringing-the-nasdaq-closing-bell-302211238.html
SOURCE Third Coast Bancshares