Third Coast Bancshares, Inc. announces strategic charter conversion
Third Coast Bancshares, Inc. (NASDAQ: TCBX), the parent company of Third Coast Bank, has announced the successful conversion of its charter from a Texas state savings bank to a Texas banking association, effective March 13, 2024. This move aims to expand the Bank’s commercial loan portfolio while maintaining its comprehensive range of business and personal banking products and services. Bart Caraway, Chairman, President, and CEO of Third Coast, highlighted the conversion’s role in aligning the Bank’s strategic plan with the commercial and retail customers’ needs.
Previously regulated by the Texas Department of Savings and Mortgage Lending, Third Coast Bank is now chartered and regulated by the Texas Department of Banking. Despite the conversion, it remains a Federal Reserve System member bank and continues to provide FDIC deposit insurance. Serving the Greater Houston, Dallas-Fort Worth, and Austin-San Antonio markets, Third Coast Bancshares operates through its wholly owned subsidiary, Third Coast Bank, with 16 branches across Texas’s four largest metropolitan areas.
The strategic conversion to a Texas banking association marks a significant milestone for Third Coast Bancshares, Inc., reflecting its growth and evolving strategic plan. The transition is expected to enable the Bank to better serve its commercial and retail customer base by offering an expanded commercial loan portfolio alongside its existing array of banking products and services.
Founded in 2008 in Humble, Texas, Third Coast Bank has built a reputation for providing high-quality, relationship-based services. This charter conversion underscores the Bank’s commitment to continuing this tradition, ensuring that customers continue to receive the same level of service they have come to expect since the Bank’s inception.
The charter conversion of Third Coast Bank represents a forward-looking step by Third Coast Bancshares, Inc. to align its operations more closely with customer needs and market demands.
As the Bank transitions into its new charter, it remains dedicated to delivering exceptional banking services to its commercial and retail customers across Texas’s major metropolitan areas.
The strategic decision by Third Coast Bancshares, Inc. to convert Third Coast Bank into a Texas banking association is a pivotal move that underscores the company’s adaptability and commitment to growth. By aligning its charter with its strategic objectives, Third Coast sets a precedent for other banks considering similar transitions to meet evolving customer demands and market conditions. This move not only enhances Third Coast Bank’s ability to expand its commercial loan portfolio but also reaffirms its dedication to providing comprehensive banking solutions.