Third Coast converts to a Texas Banking
Association
HOUSTON, March 14,
2024 /PRNewswire/ -- Third Coast Bancshares,
Inc. (NASDAQ: TCBX) (the "Company," "Third Coast," or "our"), the
holding company of Third Coast Bank (the "Bank"), today announced
that the Bank has successfully converted its charter from a
Texas state savings bank to a
Texas banking association. The
strategic charter conversion became effective on March 13, 2024.
"The charter conversion allows us to expand our commercial loan
portfolio while continuing to provide the same extensive array of
business and personal banking products and high-quality,
relationship–based service customers have experienced at the Bank
since it was founded in 2008," said Bart
Caraway, Chairman, President and CEO of Third Coast. "As we
grew and our strategic plan evolved, we determined that a
Texas banking association would
allow us to better align our goals with the needs of commercial and
retail customers."
Prior to the charter conversion, the Bank was a state savings
bank chartered and regulated by the Texas Department of Savings and
Mortgage Lending. The conversion was successfully completed on
March 13, 2024, and the Bank is now a Texas banking association chartered and
regulated by the Texas Department of Banking. The Bank will
continue to be a member bank of the Federal Reserve System and
maintain FDIC deposit insurance.
Accordingly, the Bank has removed the "SSB" from its name and
logo, and the Company will update its website URL and email
addresses effective March 16, 2024.
The new website URL will become www.thirdcoast.bank and the new
email address will be @thirdcoast.bank.
For more information on this change, including frequently asked
questions, please visit www.tcbssb.com.
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 16 branches encompassing
the four largest metropolitan areas in Texas. Please visit www.tcbssb.com 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; credit risk
associated with our business; our ability to navigate increased
regulatory requirements; our ability to manage increased
examination fees, compliance expenses, and mandated corrective
programs; 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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SOURCE Third Coast Bancshares