Third Coast Bancshares Inc
For the period ended Mar 31, 2024. Filed May 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 7, 2024
TCBX$38.69-1.0%Stored close · as of Nov 6, 2026
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Consolidated Balance Sheets
| March 31, | December 31, | |
|---|---|---|
| (Dollars in thousands, except share and per share data) | 2024 | 2023 |
| ASSETS · (unaudited) | ||
| Cash and cash equivalents: | ||
| Cash and due from banks | $367,831 | $296,926 |
| Federal funds sold | 130,429 | 114,919 |
| Total cash and cash equivalents | 498,260 | 411,845 |
| Investment securities available-for-sale | 246,291 | 178,087 |
| Loans, net of allowance for credit losses of $38,140 and $37,022 at March 31, 2024 and December 31, 2023, respectively | 3,708,038 | 3,601,766 |
| Accrued interest receivable | 25,769 | 23,120 |
| Premises and equipment, net | 26,844 | 28,554 |
| Bank-owned life insurance | 66,443 | 65,861 |
| Non-marketable equity securities, at cost | 16,095 | 16,041 |
| Deferred tax asset, net | 8,712 | 9,227 |
| Derivative assets | 11,015 | 8,828 |
| Right-of-use asset - operating leases | 20,729 | 21,439 |
| Core Deposit Intangible, net | 929 | 969 |
| Goodwill | 18,034 | 18,034 |
| Other assets | 13,244 | 12,303 |
| Total assets | $4,660,403 | $4,396,074 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||
| Deposits: | ||
| Noninterest bearing | $424,019 | $459,553 |
| Interest bearing | 3,626,653 | 3,343,595 |
| Total deposits | 4,050,672 | 3,803,148 |
| Accrued interest payable | 3,927 | 4,794 |
| Derivative liabilities | 8,253 | 10,687 |
| Lease liability - operating leases | 21,647 | 22,280 |
| Other liabilities | 27,806 | 23,763 |
| Line of credit - Senior Debt | 43,875 | 38,875 |
| Note payable - Subordinated Debentures, net | 80,605 | 80,553 |
| Total liabilities | 4,236,785 | 3,984,100 |
| Shareholders' equity: | ||
| Preferred stock, $1 par value; 1,000,000 shares authorized | ||
| Series A Convertible Non-Cumulative Preferred Stock, $1 par value; 69,400 shares authorized and outstanding at March 31, 2024 and December 31, 2023 | 69 | 69 |
| Series B Convertible Perpetual Preferred Stock, $1 par value; 69,400 shares authorized at March 31, 2024 and December 31, 2023 | — | — |
| Common stock, $1 par value; 50,000,000 shares authorized; 13,731,350 and 13,683,127 issued; and 13,652,888 and 13,604,665 outstanding at March 31, 2024 and December 31, 2023, respectively | 13,731 | 13,683 |
| Common stock - non-voting, $1 par value; 3,500,000 shares authorized at March 31, 2024 and December 31, 2023 | — | — |
| Additional paid-in capital | 320,077 | 319,613 |
| Retained earnings | 87,971 | 78,775 |
| Accumulated other comprehensive income | 2,869 | 933 |
| Treasury stock: at cost; 78,462 shares at March 31, 2024 and December 31, 2023 | (1,099) | (1,099) |
| Total shareholders' equity | 423,618 | 411,974 |
| Total liabilities and shareholders' equity | $4,660,403 | $4,396,074 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.