Solid 2026 Third Quarter Results While Advancing Long-Term Growth Strategy

HOUSTON, Oct. 21, 2026 /PRNewswire/ -- Third Coast Bancshares, Inc. (NYSE and NYSE Texas: TCBX) (the "Company," "Third Coast," "we," "us," or "our"), the bank holding company for Third Coast Bank (the "Bank"), today reported its 2026 third quarter financial results.

2026 Third Quarter Financial and Operational Highlights

Return on average assets of 1.13% annualized for the third quarter of 2026 compared to 1.34% annualized for the second quarter of 2026 and 1.41% annualized for the third quarter of 2025. Return on average assets as adjusted (non-GAAP)⁽¹⁾ annualized for the third quarter of 2026 was 1.29%.
Net interest margin of 3.70% for the third quarter of 2026 compared to 3.83% for the second quarter of 2026 and 4.10% for the third quarter of 2025.
Net income for the third quarter of 2026 totaled $19.0 million, or $1.07 and $0.93 per basic and diluted share, respectively, compared to $22.0 million, or $1.25 and $1.08 per basic and diluted share, respectively, for the second quarter of 2026 and $18.1 million, or $1.22 and $1.03 per basic and diluted share, respectively, for the third quarter of 2025. Excluding $3.2 million of acquisition-related expenses in the third quarter of 2026, the net income as adjusted (non-GAAP)⁽¹⁾ for the third quarter of 2026 was $21.6 million, or $1.06 per diluted share as adjusted (non-GAAP)⁽¹⁾.
Efficiency ratio of 63.10% for the third quarter of 2026 compared to 56.51% for the second quarter of 2026 and 53.03% for the third quarter of 2025.
Gross loans grew to $5.49 billion as of September 30, 2026, from $5.44 billion reported as of June 30, 2026.
Book value per common share and tangible book value per common share⁽¹⁾increased to $36.53 and $33.31, respectively, as of September 30, 2026, compared to $36.34 and $33.08, respectively, as of June 30, 2026 and $32.25 and $30.91, respectively, as of September 30, 2025.
Noninterest bearing demand deposits increased $78.4 million to $721.2 million, or 12.2% of total deposits as of September 30, 2026, compared to 11.0% of total deposits as of June 30, 2026.
On October 7, 2026, the Company announced a definitive merger agreement to acquire Great Plains Bancshares, Inc. ("Great Plains"), the parent company of Great Plains National Bank, in an all-stock transaction valued at approximately $239.6 million based on the Company's closing stock price as of October 6, 2026. The transaction is expected to close in the first quarter of 2027.

"The third quarter reflects the underlying strength of our franchise and our continued focus on disciplined, relationship-driven growth," said Bart Caraway, Founder, Chairman, President, and Chief Executive Officer of Third Coast. "We saw healthy loan activity, continued progress in our funding base, stable credit performance, and another high in tangible book value per share. Additionally, our agreement to merge with Great Plains builds on the progress of our strategy and brings together two organizations with complementary strengths and shared values. We believe the transaction positions us to build an even stronger franchise capable of producing durable earnings and long-term stakeholder value."

Operating Results

Net Income and Earnings Per Common Share

Net income totaled $19.0 million for the third quarter of 2026, compared to $22.0 million for the second quarter of 2026 and $18.1 million for the third quarter of 2025. Net income available to common shareholders totaled $17.8 million for the third quarter of 2026, compared to $20.8 million for the second quarter of 2026 and $16.9 million for the third quarter of 2025. The quarter-over-quarter decrease from the second quarter of 2026 was primarily due to the reduction of gain on sale of factored receivables from the second quarter of 2026 and an increase in merger and acquisition-related expenses during the third quarter of 2026. Dividends on our Series A Convertible Non-Cumulative Preferred Stock ("Series A Preferred Stock") totaled $1.2 million for each of the quarters ended September 30, 2026, June 30, 2026 and September 30, 2025.

Basic and diluted earnings per common share were $1.07 per share and $0.93 per share, respectively, in the third quarter of 2026, compared to $1.25 per share and $1.08 per share, respectively, in the second quarter of 2026 and $1.22 per share and $1.03 per share, respectively, in the third quarter of 2025. In the third quarter of 2026, diluted earnings per common share as adjusted (non-GAAP)⁽¹⁾ was $1.06, compared to $0.98 diluted earnings per common share as adjusted (non-GAAP)⁽¹⁾ in the second quarter of 2026.

Net Interest Margin and Net Interest Income

The net interest margin for the third quarter of 2026 was 3.70%, compared to 3.83% for the second quarter of 2026 and 4.10% for the third quarter of 2025. The yield on loans for the third quarter of 2026 was 6.95%, compared to 7.06% for the second quarter of 2026 and 7.79% for the third quarter of 2025. The cost of interest-bearing deposits for the third quarter of 2026 was 3.49%, compared to 3.41% for the second quarter of 2026 and 3.98% for the third quarter of 2025.

Net interest income totaled $59.5 million for the third quarter of 2026, a decrease of 1.2% from $60.3 million for the second quarter of 2026 and an increase of 17.1% from $50.8 million for the third quarter of 2025. Interest income totaled $106.7 million for the third quarter of 2026, an increase of 0.7% from $106.0 million for the second quarter of 2026 and an increase of 15.4% from $92.5 million for the third quarter of 2025. Interest expense was $47.2 million for the third quarter of 2026, an increase of $1.5 million, or 3.2%, from $45.7 million for the second quarter of 2026, and an increase of $5.5 million, or 13.3%, from $41.7 million for the third quarter of 2025.

Noninterest Income and Noninterest Expense

Noninterest income totaled $6.3 million for the third quarter of 2026, compared to $7.7 million for the second quarter of 2026 and $3.6 million for the third quarter of 2025. The quarter-over-quarter decrease from the second quarter of 2026 was primarily due to the reduction of gain on sale of factored receivables from the second quarter of 2026 partially offset by increased service charges and fees during the third quarter of 2026. Noninterest expense increased to $41.6 million for the third quarter of 2026, compared to $38.4 million for the second quarter of 2026 and $28.9 million for the third quarter of 2025. The quarter-over-quarter increase from the second quarter of 2026 was primarily due to merger and acquisition-related costs of $3.2 million. At September 30, 2026, the number of employees decreased to 499, compared to 504 at June 30, 2026.

The efficiency ratio was 63.10% for the third quarter of 2026, compared to 56.51% for the second quarter of 2026 and 53.03% for the third quarter of 2025.

Balance Sheet Highlights

Loan Portfolio and Composition

For the quarter ended September 30, 2026, gross loans increased to $5.49 billion, an increase of $57.1 million, or 1.1%, from $5.44 billion as of June 30, 2026, and an increase of $1.33 billion, or 31.9%, from $4.17 billion as of September 30, 2025. The Bank completed a securitization of $87.5 million of commercial real estate loans during the third quarter of 2026. Real estate loans accounted for the majority of the loan growth for the third quarter of 2026, with real estate loans increasing $67.1 million from the second quarter of 2026, partially offset by municipal and other loans decreasing $9.2 million from the second quarter of 2026.

Asset Quality

Nonperforming loans at September 30, 2026 were $29.0 million, compared to $27.1 million at June 30, 2026 and $21.7 million at September 30, 2025. The increase in nonperforming loans during the third quarter of 2026 was primarily due to $2.3 million in SBA loans placed on nonaccrual. As of September 30, 2026, the nonperforming loans to total loans ratio was 0.53%, compared to 0.50% as of June 30, 2026 and 0.52% as of September 30, 2025.

The provision for credit losses recorded for the third quarter of 2026 was $540,000, and the allowance for credit losses of $54.4 million represented 0.99% of the $5.49 billion in gross loans outstanding as of September 30, 2026. The provision for credit losses recorded for the second quarter of 2026 was $2.1 million, and the allowance for credit losses of $53.6 million represented 0.99% of the $5.44 billion in gross loans outstanding as of June 30, 2026.

The Company recorded net recoveries of $27,000 and $17,000 for the three months ended September 30, 2026 and September 30, 2025, respectively.

Deposits and Composition

Deposits totaled $5.92 billion as of September 30, 2026, an increase of 1.2% from $5.86 billion as of June 30, 2026, and an increase of 35.5% from $4.37 billion as of September 30, 2025. Noninterest-bearing demand deposits increased from $642.7 million as of June 30, 2026 to $721.2 million as of September 30, 2026 and represented 12.2% and 11.0% of total deposits as of September 30, 2026 and June 30, 2026, respectively. As of September 30, 2026, interest-bearing demand deposits decreased $141.1 million, or 3.3%, time deposits increased $126.1 million, or 14.6%, and savings accounts increased $5.9 million, or 21.1%, respectively, from June 30, 2026.

The average cost of deposits was 3.09% for the third quarter of 2026, representing a 4-basis point increase from the second quarter of 2026 and a 47-basis point decrease from the third quarter of 2025. The quarter-over-quarter increase was primarily due to the increase in rates paid on interest-bearing demand deposits.

Earnings Conference Call

Third Coast has scheduled a conference call to discuss its 2026 third quarter results, which will be broadcast live over the Internet, on Thursday, October 22, 2026, at 11:00 a.m. Eastern Time / 10:00 a.m. Central Time. To participate in the call, dial 201-389-0869 and ask for the Third Coast Bancshares, Inc. call at least 10 minutes prior to the start time, or access it live over the Internet at https://ir.thirdcoast.bank/events-and-presentations/events/ For those who cannot listen to the live call, a replay will be available through October 29, 2026, and may be accessed by dialing 201-612-7415 and using passcode 13757906#. Also, an archive of the webcast will be available shortly after the call at https://ir.thirdcoast.bank/events-and-presentations/events/ for 90 days.

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 20 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 (the "Securities Act"), 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; economic conditions affecting the real estate market; prepayment risks associated with commercial real estate loans; liquidity risks in the securitization market; operational risks related to the administration of securitized assets; changes in key management personnel; the occurrence of any event, change or other circumstance that could give rise to the right of one or both of the parties to terminate the definitive merger agreement providing for the acquisition of Great Plains by Third Coast; the outcome of any legal proceedings that may be instituted against Third Coast or Great Plains; the possibility that the transaction does not close when expected or at all because required regulatory, shareholder or other approvals and other conditions to closing are not received or satisfied on a timely basis or at all (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the transaction); the risk that the benefits from the transaction may not be fully realized or may take longer to realize than expected, including as a result of changes in, or problems arising from, general economic and market conditions, interest and exchange rates, monetary policy, laws and regulations and their enforcement, and the degree of competition in the geographic and business areas in which Third Coast and Great Plains operate; disruption to the parties' businesses as a result of the announcement and pendency of the transaction; the risk that the integration of each party's operations will be materially delayed or will be more costly or difficult than expected or that the parties are otherwise unable to successfully integrate each party's businesses into the other's businesses; the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; reputational risk and potential adverse reactions of Third Coast's or Great Plains' customers, suppliers, employees or other business partners, including those resulting from the announcement or completion of the transaction; the dilution caused by Third Coast's issuance of additional shares of its common stock in connection with the transaction; a material adverse change in the financial condition of Third Coast or Great Plains; the diversion of management's attention and time from ongoing business operations and opportunities on merger-related matters; and other factors that may affect future results of Third Coast and Great Plains including changes in asset quality and credit risk, the inability to sustain revenue and earnings growth, changes in interest rates and capital markets, inflation, customer borrowing, repayment, investment and deposit practices, the impact, extent and timing of technological changes, capital management activities and other actions of the Board of Governors of the Federal Reserve System and legislative and regulatory actions and reforms. 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, 2025 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.

Non-GAAP Financial Measures

This press release contains certain non-GAAP financial measures, including Tangible Common Equity, Tangible Book Value Per Common Share, Tangible Common Equity to Tangible Assets, Return on Average Tangible Common Equity, Return on Average Assets as Adjusted (Non-GAAP), Return on Average Common Equity as Adjusted (Non-GAAP), Return on Average Tangible Common Equity as Adjusted (Non-GAAP), Net Income as Adjusted (Non-GAAP), and Diluted Earnings Per Common Share as Adjusted (Non-GAAP), which are supplemental measures that are not required by, or are not presented in accordance with GAAP. Please refer to the table titled "GAAP Reconciliation and Management's Explanation of Non-GAAP Financial Measures" at the end of this press release for a reconciliation of these non-GAAP financial measures.

(1)	Non-GAAP financial measure. Please refer to the table titled "GAAP Reconciliation and Management's Explanation of Non-GAAP Financial Measures" at the end of this news release for a reconciliation of these non-GAAP financial measures.

Third Coast Bancshares, Inc. and Subsidiary
Financial Highlights
(unaudited)

	2026						2025
(Dollars in thousands)	September 30		June 30		March 31		December 31		September 30

ASSETS
Cash and cash equivalents:
Cash and due from banks	$	359,763	$	404,165	$	425,174	$	175,202	$	116,383
Federal funds sold		6,051		6,732		6,133		6,027		6,629
Total cash and cash equivalents		365,814		410,897		431,307		181,229		123,012

Interest bearing time deposits in other banks		276		273		270		267		265
Investment securities available-for-sale		461,524		405,251		435,846		383,192		376,719
Investment securities held to maturity		191,924		191,952		191,980		192,008		206,037
Loans held for investment		5,493,503		5,436,414		5,251,458		4,394,751		4,165,116
Less: allowance for credit losses		(54,418)		(53,591)		(51,455)		(43,949)		(42,563)
Loans held for investment, net		5,439,085		5,382,823		5,200,003		4,350,802		4,122,553
Accrued interest receivable		32,083		30,306		31,385		29,236		29,537
Premises and equipment, net		40,645		40,178		40,558		24,789		24,718
Other real estate owned		26,999		27,321		8,388		8,388		8,388
Bank-owned life insurance		77,100		77,856		77,107		76,357		75,547
Non-marketable securities, at cost		24,860		23,538		21,759		16,424		26,157
Deferred tax asset, net		26,644		23,843		7,493		6,450		6,989
Derivative assets		5,307		2,594		2,350		2,544		2,803
Right-of-use assets - operating leases		16,833		16,953		17,615		17,066		17,677
Core deposit intangibles, net		7,655		8,081		8,516		646		686
Goodwill		46,079		46,079		46,367		18,034		18,034
Other assets		42,792		47,556		61,129		33,327		22,686
Total assets	$	6,805,620	$	6,735,501	$	6,582,073	$	5,340,759	$	5,061,808

LIABILITIES
Deposits:
Noninterest bearing	$	721,194	$	642,748	$	577,217	$	495,000	$	450,013
Interest bearing		5,203,574		5,212,718		5,137,860		4,131,888		3,922,728
Total deposits		5,924,768		5,855,466		5,715,077		4,626,888		4,372,741

Accrued interest payable		6,910		5,872		7,205		5,957		7,153
Derivative liabilities		10,368		4,289		3,517		3,142		3,521
Lease liability - operating leases		17,887		18,011		18,676		18,130		18,735
Other liabilities		27,260		39,647		48,177		36,775		32,040
Line of credit - Senior Debt		62,375		60,375		57,875		37,875		32,875
Note payable - Subordinated Debentures, net		81,120		81,068		81,016		80,965		80,913
Total liabilities		6,130,688		6,064,728		5,931,543		4,809,732		4,547,978

SHAREHOLDERS' EQUITY
Series A Convertible Non-Cumulative Preferred Stock		69		69		69		69		69
Series B Convertible Perpetual Preferred Stock		-		-		-		-		-
Common stock		16,742		16,718		16,641		13,970		13,958
Common stock - non-voting		-		-		-		-		-
Additional paid-in capital		431,086		429,931		428,815		323,929		323,491
Retained earnings		237,045		219,238		198,435		183,238		166,537
Accumulated other comprehensive (loss) income		(8,911)		5,916		7,669		10,920		10,874
Treasury stock, at cost		(1,099)		(1,099)		(1,099)		(1,099)		(1,099)
Total shareholders' equity		674,932		670,773		650,530		531,027		513,830
Total liabilities and shareholders' equity	$	6,805,620	$	6,735,501	$	6,582,073	$	5,340,759	$	5,061,808

Third Coast Bancshares, Inc. and Subsidiary
Financial Highlights
(unaudited)

	Three Months Ended										Nine Months Ended
	2026						2025				2026		2025
(Dollars in thousands, except per share data)	September 30		June 30		March 31		December 31		September 30		September 30		September 30

INTEREST INCOME:
Loans, including fees	$	94,593	$	94,584	$	85,893	$	81,368	$	82,054	$	275,070	$	234,847
Investment securities available-for-sale		7,020		6,482		6,107		6,464		6,289		19,609		17,487
Investment securities held-to-maturity		2,359		2,549		2,398		2,681		2,882		7,306		4,489
Federal funds sold and other		2,754		2,374		2,988		1,586		1,278		8,116		5,108
Total interest income		106,726		105,989		97,386		92,099		92,503		310,101		261,931

INTEREST EXPENSE:
Deposit accounts		44,709		43,384		41,484		37,530		39,030		129,577		112,791
FHLB advances and other borrowings		2,471		2,329		2,257		2,372		2,624		7,057		6,120
Total interest expense		47,180		45,713		43,741		39,902		41,654		136,634		118,911

Net interest income		59,546		60,276		53,645		52,197		50,849		173,467		143,020

Provision for credit losses		540		2,069		580		2,245		2,763		3,189		5,343

Net interest income after credit loss expense		59,006		58,207		53,065		49,952		48,086		170,278		137,677

NONINTEREST INCOME:
Service charges and fees		4,293		3,174		3,175		3,518		2,839		10,642		7,241
Earnings on bank-owned life insurance		797		748		750		811		786		2,295		2,206
Loss on sale of investment securities available-for-sale		-		(93)		(11)		(272)		-		(104)		(338)
Gain on sale of factored receivables		-		3,463		-		-		-		3,463		-
Gain on sale of SBA loans		-		-		-		-		-		-		74
Other		1,231		425		119		204		10		1,775		209
Total noninterest income		6,321		7,717		4,033		4,261		3,635		18,071		9,392

NONINTEREST EXPENSE:
Salaries and employee benefits		24,981		24,804		24,808		21,109		19,560		74,593		56,080
Occupancy and equipment expense		3,414		3,259		3,349		2,845		2,861		10,022		8,478
Legal and professional		4,869		2,271		3,221		2,850		1,254		10,361		4,612
Data processing and network expense		1,578		1,595		1,414		1,087		1,203		4,587		3,485
Regulatory assessments		1,430		1,331		1,210		1,172		1,152		3,971		3,661
Advertising and marketing		799		737		639		733		499		2,175		1,411
Software purchases and maintenance		1,573		1,421		1,419		1,067		1,094		4,413		3,502
Loan operations and other real estate owned expense		1,018		656		537		397		29		2,211		737
Telephone and communications		166		158		144		126		134		468		424
Other		1,733		2,192		1,362		1,305		1,106		5,287		3,456
Total noninterest expense		41,561		38,424		38,103		32,691		28,892		118,088		85,846

NET INCOME BEFORE INCOME TAX EXPENSE		23,766		27,500		18,995		21,522		22,829		70,261		61,223

Income tax expense		4,762		5,513		2,627		3,624		4,772		12,902		12,830

NET INCOME		19,004		21,987		16,368		17,898		18,057		57,359		48,393

Preferred stock dividends declared		1,197		1,184		1,171		1,197		1,197		3,552		3,553

NET INCOME AVAILABLE TO COMMON SHAREHOLDERS	$	17,807	$	20,803	$	15,197	$	16,701	$	16,860	$	53,807	$	44,840

EARNINGS PER COMMON SHARE:
Basic earnings per share	$	1.07	$	1.25	$	1.03	$	1.21	$	1.22	$	3.36	$	3.24
Diluted earnings per share	$	0.93	$	1.08	$	0.88	$	1.02	$	1.03	$	2.90	$	2.77

Third Coast Bancshares, Inc. and Subsidiary
Financial Highlights
(unaudited)

	Three Months Ended															Nine Months Ended
	2026									2025						2026			2025
(Dollars in thousands, except share and per share data)	September 30			June 30			March 31			December 31			September 30			September 30			September 30

Earnings per common share, basic	$	1.07		$	1.25		$	1.03		$	1.21		$	1.22		$	3.36		$	3.24
Earnings per common share, diluted	$	0.93		$	1.08		$	0.88		$	1.02		$	1.03		$	2.90		$	2.77
Dividends on common stock	$	-		$	-		$	-		$	-		$	-		$	-		$	-
Dividends on Series A Convertible Non-Cumulative Preferred Stock	$	17.25		$	17.06		$	16.88		$	17.25		$	17.25		$	51.19		$	51.19

Return on average assets ^(A)		1.13	%		1.34	%		1.08	%		1.36	%		1.41	%		1.19	%		1.32	%
Return on average common equity ^(A)		11.49	%		13.96	%		11.29	%		14.42	%		15.14	%		12.27	%		14.13	%
Return on average tangible common equity ^{(A) (B)}		12.59	%		15.36	%		12.23	%		15.03	%		15.81	%		13.42	%		14.79	%
Net interest margin ^{(A) (C)}		3.70	%		3.83	%		3.67	%		4.10	%		4.10	%		3.73	%		4.05	%
Efficiency ratio ^(D)		63.10	%		56.51	%		66.06	%		57.90	%		53.03	%		61.65	%		56.32	%

Capital Ratios
Third Coast Bancshares, Inc. (consolidated):
Total common equity to total assets		8.95	%		8.98	%		8.88	%		8.70	%		8.84	%		8.95	%		8.84	%
Tangible common equity to tangible assets ^(B)		8.22	%		8.24	%		8.11	%		8.38	%		8.51	%		8.22	%		8.51	%
Estimated Common equity tier 1 (to risk weighted assets)		9.20	%		8.82	%		8.84	%		8.65	%		8.85	%		9.20	%		8.85	%
Estimated Tier 1 capital (to risk weighted assets)		10.28	%		9.89	%		9.96	%		9.97	%		10.25	%		10.28	%		10.25	%
Estimated Total capital (to risk weighted assets)		12.45	%		12.01	%		12.13	%		12.48	%		12.90	%		12.45	%		12.90	%
Estimated Tier 1 capital (to average assets)		9.55	%		9.35	%		9.65	%		9.65	%		9.55	%		9.55	%		9.55	%

Third Coast Bank:
Estimated Common equity tier 1 (to risk weighted assets)		12.56	%		12.10	%		12.23	%		12.23	%		12.59	%		12.56	%		12.59	%
Estimated Tier 1 capital (to risk weighted assets)		12.56	%		12.10	%		12.23	%		12.23	%		12.59	%		12.56	%		12.59	%
Estimated Total capital (to risk weighted assets)		13.41	%		12.91	%		13.02	%		13.14	%		13.53	%		13.41	%		13.53	%
Estimated Tier 1 capital (to average assets)		11.66	%		11.44	%		11.84	%		11.84	%		11.75	%		11.66	%		11.75	%

Other Data
Weighted average common shares:
Basic		16,655,357			16,591,144			14,814,661			13,889,497			13,860,149			16,027,130			13,824,963
Diluted		20,435,618			20,334,205			18,560,056			17,552,204			17,524,288			19,783,163			17,452,385
Period end common shares outstanding		16,664,058			16,639,127			16,562,268			13,891,055			13,879,099			16,664,058			13,879,099
Book value per common share	$	36.53		$	36.34		$	35.28		$	33.47		$	32.25		$	36.53		$	32.25
Tangible book value per common share ^(B)	$	33.31		$	33.08		$	31.97		$	32.12		$	30.91		$	33.31		$	30.91


(A) Interim periods annualized.
(B) Refer to the calculation of these non-GAAP financial measures and a reconciliation to their most directly comparable GAAP financial measures at the end of this news release.
(C) Net interest margin represents net interest income divided by average interest-earning assets.
(D) Represents total noninterest expense divided by the sum of net interest income plus noninterest income. Taxes and provision for credit losses are not part of this calculation.

Third Coast Bancshares, Inc. and Subsidiary
Financial Highlights
(unaudited)

	Three Months Ended
	September 30, 2026					June 30, 2026					September 30, 2025
(Dollars in thousands)	Average Outstanding Balance		Interest Earned/ Paid⁽³⁾		Average Yield/ Rate⁽⁴⁾	Average Outstanding Balance		Interest Earned/ Paid⁽³⁾		Average Yield/ Rate⁽⁴⁾	Average Outstanding Balance		Interest Earned/ Paid⁽³⁾		Average Yield/ Rate⁽⁴⁾

Assets
Interest-earnings assets:
Loans, gross	$	5,396,683	$	94,593	6.95 %	$	5,371,846	$	94,584	7.06 %	$	4,179,027	$	82,054	7.79 %
Investment securities available- for-sale		492,929		7,020	5.65 %		432,863		6,482	6.01 %		410,073		6,289	6.08 %
Investment securities held-to- maturity		192,152		2,359	4.87 %		191,970		2,549	5.33 %		206,055		2,882	5.55 %
Federal funds sold and other interest- earning assets		299,444		2,754	3.65 %		315,434		2,374	3.02 %		123,680		1,278	4.10 %
Total interest-earning assets		6,381,208		106,726	6.64 %		6,312,113		105,989	6.73 %		4,918,835		92,503	7.46 %
Less: allowance for credit losses		(53,612)					(52,533)					(40,427)
Total interest-earning assets, net of allowance		6,327,596					6,259,580					4,878,408
Noninterest-earning assets		325,704					330,121					213,210
Total assets	$	6,653,300				$	6,589,701				$	5,091,618

Liabilities and Shareholders' Equity
Interest-bearing liabilities:
Interest-bearing deposits	$	5,084,277	$	44,709	3.49 %	$	5,108,166	$	43,384	3.41 %	$	3,892,726	$	39,030	3.98 %
Note payable and line of credit		142,832		2,155	5.99 %		139,733		2,091	6.00 %		113,560		1,754	6.13 %
FHLB advances		31,986		316	3.92 %		24,719		238	3.86 %		73,476		870	4.70 %
Total interest-bearing liabilities		5,259,095		47,180	3.56 %		5,272,618		45,713	3.48 %		4,079,762		41,654	4.05 %
Noninterest-bearing deposits		654,281					599,000					453,980
Other liabilities		58,749					54,236					49,842
Total liabilities		5,972,125					5,925,854					4,583,584
Shareholders' equity		681,175					663,847					508,034
Total liabilities and shareholders' equity	$	6,653,300				$	6,589,701				$	5,091,618
Net interest income			$	59,546				$	60,276				$	50,849
Net interest spread ⁽¹⁾					3.08 %					3.25 %					3.41 %
Net interest margin ⁽²⁾					3.70 %					3.83 %					4.10 %


(1) Net interest spread is the average yield on interest earning assets minus the average rate on interest-bearing liabilities.
(2) Net interest margin represents net interest income divided by average interest-earning assets.
(3) Interest earned/paid includes accretion of deferred loan fees, premiums and discounts.
(4) Annualized.

Third Coast Bancshares, Inc. and Subsidiary
Financial Highlights
(unaudited)

	Nine Months Ended
	September 30, 2026					September 30, 2025
(Dollars in thousands)	Average Outstanding Balance		Interest Earned/ Paid⁽³⁾		Average Yield/ Rate⁽⁴⁾	Average Outstanding Balance		Interest Earned/ Paid⁽³⁾		Average Yield/ Rate⁽⁴⁾

Assets
Interest-earnings assets:
Loans, gross	$	5,248,655	$	275,070	7.01 %	$	4,060,615	$	234,847	7.73 %
Investment securities available-for-sale		443,053		19,609	5.92 %		396,919		17,487	5.89 %
Investment securities held-to-maturity		192,041		7,306	5.09 %		108,575		4,489	5.53 %
Federal funds sold and other interest-earning assets		325,802		8,116	3.33 %		159,941		5,108	4.27 %
Total interest-earning assets		6,209,551		310,101	6.68 %		4,726,050		261,931	7.41 %
Less: allowance for credit losses		(51,673)					(40,550)
Total interest-earning assets, net of allowance		6,157,878					4,685,500
Noninterest-earning assets		309,434					207,355
Total assets	$	6,467,312				$	4,892,855

Liabilities and Shareholders' Equity
Interest-bearing liabilities:
Interest-bearing deposits	$	4,985,877	$	129,577	3.47 %	$	3,771,393	$	112,791

Third Coast Bancshares, Inc. Reports 2026 Third Quarter Financial Results