Third Coast Bancshares Inc
For the period ended Sep 30, 2024. Filed Nov 5, 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.
Sep 30, 2024 · Filed Nov 5, 2024
TCBX$39.58-0.6%Stored close · as of Nov 10, 2026
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Consolidated Statements of Comprehensive Income
| For the Three Months EndedSeptember 30, | For the Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| (Dollars in thousands) | 2024 | 2023 | 2024 | 2023 |
| Net income | $12,775 | $5,578 | $33,938 | $23,712 |
| Other comprehensive income (loss): | ||||
| Unrealized income (loss) on securities: | ||||
| Unrealized holding gain (loss) arising during the period | 5,014 | 353 | 3,757 | (2,861) |
| Reclassification for net losses (gains) realized through the sale of securities | 480 | (364) | 200 | (461) |
| Income tax (expense) benefit | (1,154) | 3 | (831) | 698 |
| Other comprehensive income (loss) on securities | 4,340 | (8) | 3,126 | (2,624) |
| Unrealized gain (loss) on derivatives: | ||||
| Unrealized holding (loss) gain arising during the period | (188) | — | 1,353 | — |
| Gain on termination of derivative instruments | — | — | 5,412 | 5,007 |
| Reclassification adjustment for accretion of gain on terminated cash flow hedges recorded in interest expense during the period | (756) | (450) | (2,029) | (1,219) |
| Income tax benefit (expense) | 200 | 94 | (994) | (796) |
| Other comprehensive (loss) income on derivatives | (744) | (356) | 3,742 | 2,992 |
| Total other comprehensive income (loss) | 3,596 | (364) | 6,868 | 368 |
| Total comprehensive income | $16,371 | $5,214 | $40,806 | $24,080 |
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