A regional bank for Texas, like a smaller, Texas-only U.S. Bancorp.

A community and commercial bank for Texas, operating like a Texas-exclusive PNC Financial.

Major Products and Services of Third Coast Bancshares (TCBX)

• Deposit Accounts: Attracting and holding funds from individuals and businesses in various account types, including checking, savings, money market, and certificates of deposit.
• Lending Services: Providing credit to individuals and businesses through commercial, real estate, construction, and consumer loans.
• Treasury Management: Offering cash flow and financial operations solutions for businesses, such as remote deposit capture, ACH, and wire transfers.
• Digital Banking: Enabling convenient access to banking services through online and mobile platforms.

Third Coast Bancshares (TCBX) operates as a bank holding company, with its primary subsidiary being Third Coast Bank, SSB. As a community bank, TCBX primarily sells its financial products and services to businesses, specifically targeting small to medium-sized enterprises. However, due to the nature of banking and client confidentiality, specific major customer companies are not publicly disclosed by name.

Therefore, to best describe its major customers, the following categories represent its key customer segments:

• Small to Medium-sized Businesses (SMBs): This is a core focus for Third Coast Bancshares. They provide commercial loans, lines of credit, treasury management, and various deposit accounts tailored for business operations across diverse industries.
• Professionals and Entrepreneurs: The bank actively serves professionals (e.g., medical, legal, accounting firms) and entrepreneurs who require both business banking services and personal financial management solutions.
• Individuals and Consumers: TCBX also serves individuals and consumers within its market areas by offering a full suite of personal banking services, including checking and savings accounts, residential mortgages, and consumer loans.

• nCino, Inc. (NCNO)
• NYMBUS

Bart O. Caraway, Founder, Chairman, President and Chief Executive Officer

Mr. Caraway is the founder of Third Coast Bank, SSB (2008) and Third Coast Bancshares, Inc. (2013). He began his career in the early 1990s in banking and public accounting and is a Texas licensed attorney and Certified Public Accountant. Prior to founding Third Coast Bank, he held executive roles at several other community banks. Mr. Caraway also developed the financial institution and consulting practice for Briggs & Veselka Co. (merged into Crowe LLP), which included services like bank audit, internal audit, loan reviews, risk assessments, de novo bank chartering, and consulting for mergers and acquisitions.

R. John McWhorter, Senior Executive Vice President & Chief Financial Officer

Mr. McWhorter has served as Chief Financial Officer of Third Coast Bancshares since April 2015 and as Senior Executive Vice President and Chief Financial Officer of Third Coast Bank since January 2021. He brings over 34 years of experience in banking, bank auditing, and public accounting and is a Certified Public Accountant. Previously, Mr. McWhorter was Executive Vice President and Chief Financial Officer of Cadence Bancorp LLC from March 2010 to June 2012. He also served as Senior Vice President and Controller of Amegy Bank from April 1990 to June 2003, where he contributed to taking the bank public and growing its assets to over $5 billion. He has been involved in completing nine acquisitions and several capital offerings.

Vicki Alexander, Executive Vice President, Chief Risk and Operations Officer

Ms. Alexander was appointed Executive Vice President, Chief Risk and Operations Officer, effective March 1, 2024. She initially joined the Company as Chief Compliance and Risk Officer in September 2022. Prior to Third Coast, she was a Managing Director at Protiviti, Inc., a global business consulting company, from December 2020 to July 2022. From July 2014 to January 2020, Ms. Alexander was the Chief Compliance Officer of FIS Global, overseeing compliance for a Fortune 500 technology and operations company. Her experience also includes roles as Corporate Compliance Officer at SunTrust Bank and Global Technology and Operations Compliance Executive at Bank of America.

Liz Eber, Executive Vice President & Chief Legal Officer

Ms. Eber was named Chief Legal Officer, effective March 1, 2024, having joined Third Coast Bank as Head of Legal in January 2023. She provides legal support across various areas including transactional, commercial, payments, privacy, employment, litigation, regulatory, and compliance matters. Before joining Third Coast, Ms. Eber spent seven years at FIS Global as a senior member of their Regulatory & Compliance Legal Team.

Audrey A. Spaulding, Senior Executive Vice President and Chief Credit Officer

Ms. Spaulding, formerly Ms. Audrey A. Duncan, has served as Senior Executive Vice President and Chief Credit Officer of Third Coast Bank since January 2021, and previously as Executive Vice President and Chief Credit Officer from June 2015 to January 2021. She is responsible for the Credit Administration Department, including loan operations, problem loan workout, and credit underwriting, as well as loan loss reserve analysis and Credit Policy. Ms. Spaulding brings over 34 years of banking and bank regulatory experience. Before joining Third Coast, she was with LegacyTexas Bank, where her roles included Senior Vice President and Credit Officer, Executive Vice President and Chief Credit Officer, and Director of Credit Risk Management. From 1989 to 2000, she served as a Senior and Commissioned Bank Examiner with the Federal Reserve Bank of Dallas.

1. Interest Rate Risk and Fluctuations: The company is exposed to the risk of changes in interest rates, which can impact its net interest margin and overall profitability. Fluctuations in interest rates can affect the value of its assets and liabilities, as well as the demand for its loan products and deposits.
2. Credit Risk: As a financial institution, Third Coast Bancshares is inherently exposed to credit risk, which is the risk of loss arising from a borrower's failure to repay a loan or meet contractual obligations. This risk is associated with the business's lending activities, including commercial real estate loans, and can be influenced by economic conditions affecting the real estate market. While the company has taken steps to mitigate credit risk, such as completing a commercial real estate loan securitization to reduce construction and land development loan concentrations, it remains a fundamental risk.
3. Market Conditions, Economic Trends, and Deposit Concentration: General market conditions and economic trends, particularly within the banking industry and the specific geographic areas Third Coast Bancshares operates in (primarily Texas), pose a significant risk. Economic downturns can lead to reduced demand for loans, increased loan defaults, and challenges in maintaining and growing its deposit base. The ability to maintain important deposit relationships and grow its deposit base is crucial for funding and liquidity.

1. **Rise of Digital-Only Banks (Neobanks/Challenger Banks):** These institutions offer highly digital, often lower-cost banking experiences that attract customers away from traditional branch-based models, particularly younger demographics and small businesses seeking convenience and advanced mobile features.

2. **Expansion of Fintech Lenders and Embedded Finance:** Specialized online lenders provide faster, often algorithm-driven loan approvals, while non-financial companies integrate financial services directly into their platforms (e.g., e-commerce, software), bypassing traditional banks for deposits, payments, and lending.

3. **Big Tech's Entry into Financial Services:** Companies like Apple, Google, and Amazon are leveraging their massive user bases and data capabilities to offer banking-like products (e.g., savings accounts, payment solutions), presenting a strong challenge to customer relationships and trust built by traditional banks.

Commercial Banking Market in Texas: The market size for the Commercial Banking industry in Texas is estimated to be $108.7 billion in 2025.

U.S. Small Business Lending Market: The estimated total lending volume to small businesses in the U.S. for 2025 is $760 billion. While Third Coast Bancshares focuses on Texas, a specific market size for small business lending solely within Texas was not identified. The broader U.S. market size provides context for their small business loan offerings.

U.S. Commercial Banking Market (Broader Context): The overall U.S. commercial banking market size stands at USD 732.5 billion in 2025 and is forecasted to reach USD 915.45 billion by 2030, reflecting a 4.56% Compound Annual Growth Rate (CAGR). Commercial lending accounted for 44.34% of the U.S. commercial banking market share in 2024.

Third Coast Bancshares (TCBX) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

1. Continued Loan Growth: Third Coast Bancshares has demonstrated robust loan growth, with gross loans reaching $4.17 billion as of September 30, 2025. The company's management has stated that they have recently hired new employees who are expected to be significant contributors to both loan and deposit growth in future quarters. Furthermore, the company is targeting loan growth of $50-$100 million in Q4 2025. This focus on prudent loan growth, particularly in the commercial and industrial (C&I) and specialty finance sectors, is anticipated to enhance operating leverage.
2. Deposit Base Expansion: Growth in deposits is crucial for funding loan origination and, consequently, revenue growth. Third Coast Bancshares saw deposits increase by $92 million in Q3 2025. In the fourth quarter of 2024, deposits grew by $316 million (7.9%), contributing to a full-year increase of $507.4 million (13.3%). The company expects new hires to aid in deposit growth.
3. Strategic Mergers and Acquisitions: A significant driver for future revenue growth is the anticipated merger with Keystone Bancshares by Q1 2026. This merger is projected to increase Third Coast Bancshares' total assets to over $6 billion, which would substantially expand its revenue-generating capacity.
4. Net Interest Margin (NIM) Management: While the net interest margin can fluctuate with market conditions, Third Coast Bancshares aims to optimize it. The net interest income for Q3 2025 increased by 3.0% from the previous quarter, largely due to a better-than-expected net interest margin and growth in average earning assets. The company has also engaged in securitization transactions to enhance liquidity and capital management, which can indirectly support NIM by allowing for more effective deployment of capital into new lending opportunities.
5. Expansion within Core Texas Markets and Relationship Banking: Third Coast Bancshares operates primarily in the economically strong Greater Houston, Dallas-Fort Worth, and Austin-San Antonio markets. The company emphasizes its relationship-banking strategy, leveraging its regional presence and customer relationships to expand its lending and deposit base. This regional focus, coupled with the opening of new branch locations, like those in Austin and The Woodlands, supports organic growth by deepening its market penetration.

Share Repurchases

• In June 2025, Third Coast Bancshares' Board of Directors authorized a new share repurchase program of up to $30 million of its common stock.
• This repurchase program is set to expire on May 22, 2026.

Share Issuance

• Around September-October 2022, Third Coast Bancshares announced a private placement that secured $69.4 million in funding from Castle Creek Capital LLC and other investors.
• As part of the definitive merger agreement with Keystone Bancshares announced in October 2025, Keystone shareholders may elect to receive Third Coast Bancshares common stock as consideration.

Inbound Investments

• Third Coast Bancshares announced a private placement of $69.4 million from Castle Creek Capital LLC and other investors around September-October 2022.

Outbound Investments

• In October 2025, Third Coast Bancshares announced a definitive merger agreement to acquire Keystone Bancshares for approximately $123 million, with the closing targeted for the first quarter of 2026.
• In April 2025, Third Coast Bank, a subsidiary, originated a $200 million commercial real estate loan and subsequently created and sold participation interests in this loan to reduce risk-weighted assets.

Capital Expenditures

• Third Coast Bancshares reported quarterly capital expenditures of $258,000 for June 2025.