$TCBX
Third Coast Bancshares, Inc.
CIK:0001781730|SEC Filings
Consolidated Statements of Income (unaudited) - USD ($) |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| Interest income: | ||||
| Loans, including fees | $ 94,584,000 | $ 79,706,000 | $ 180,477,000 | $ 152,793,000 |
| Investment securities available-for-sale | 6,482,000 | 5,505,000 | 12,589,000 | 11,198,000 |
| Investment securities held-to-maturity | 2,549,000 | 1,607,000 | 4,947,000 | 1,607,000 |
| Federal funds sold and other | 2,374,000 | 1,844,000 | 5,362,000 | 3,830,000 |
| Total interest income | 105,989,000 | 88,662,000 | 203,375,000 | 169,428,000 |
| Interest expense: | ||||
| Deposit accounts | 43,384,000 | 37,535,000 | 84,868,000 | 73,761,000 |
| FHLB advances and other borrowings | 2,329,000 | 1,753,000 | 4,586,000 | 3,496,000 |
| Total interest expense | 45,713,000 | 39,288,000 | 89,454,000 | 77,257,000 |
| Net interest income | 60,276,000 | 49,374,000 | 113,921,000 | 92,171,000 |
| Provision for credit losses | 2,069,000 | 2,130,000 | 2,649,000 | 2,580,000 |
| Net interest income after provision for credit losses | 58,207,000 | 47,244,000 | 111,272,000 | 89,591,000 |
| Noninterest income: | ||||
| Service charges and other fees | 3,174,000 | 2,125,000 | 6,349,000 | 4,402,000 |
| Earnings on bank-owned life insurance | 748,000 | 743,000 | 1,498,000 | 1,420,000 |
| Loss on sale of investment securities available-for-sale | (93,000) | (110,000) | (104,000) | (338,000) |
| Gain on sale of factored receivables | 3,463,000 | 3,463,000 | ||
| Gain on sales of SBA loans | 44,000 | 74,000 | ||
| Other | 425,000 | (152,000) | 544,000 | 199,000 |
| Total noninterest income | 7,717,000 | 2,650,000 | 11,750,000 | 5,757,000 |
| Noninterest expense: | ||||
| Salaries and employee benefits | 24,804,000 | 18,179,000 | 49,612,000 | 36,520,000 |
| Occupancy and equipment expense | 3,259,000 | 2,783,000 | 6,608,000 | 5,617,000 |
| Legal and professional | 2,271,000 | 1,927,000 | 5,492,000 | 3,358,000 |
| Data processing and network expense | 1,595,000 | 1,162,000 | 3,009,000 | 2,282,000 |
| Regulatory assessments | 1,331,000 | 1,203,000 | 2,541,000 | 2,509,000 |
| Advertising and marketing | 737,000 | 503,000 | 1,376,000 | 912,000 |
| Software purchases and maintenance | 1,421,000 | 1,149,000 | 2,840,000 | 2,408,000 |
| Loan operations and other real estate owned expense | 656,000 | 439,000 | 1,193,000 | 708,000 |
| Telephone and communications | 158,000 | 115,000 | 302,000 | 290,000 |
| Other | 2,192,000 | 1,386,000 | 3,554,000 | 2,350,000 |
| Total noninterest expense | 38,424,000 | 28,846,000 | 76,527,000 | 56,954,000 |
| Net income before income tax expense | 27,500,000 | 21,048,000 | 46,495,000 | 38,394,000 |
| Income tax expense | 5,513,000 | 4,301,000 | 8,140,000 | 8,058,000 |
| Net income | 21,987,000 | 16,747,000 | 38,355,000 | 30,336,000 |
| Preferred stock dividends declared | 1,184,000 | 1,185,000 | 2,355,000 | 2,356,000 |
| Net income available to common shareholders | $ 20,803,000 | $ 15,562,000 | $ 36,000,000 | $ 27,980,000 |
| Earnings per common share: | ||||
| Basic earnings per share | $ 1.25 | $ 1.12 | $ 2.29 | $ 2.03 |
| Diluted earnings per share | $ 1.08 | $ 0.96 | $ 1.97 | $ 1.74 |