Third Coast to Acquire Great Plains in $239.6M All-Stock Deal, Creating $9B Texas-Oklahoma Bank
TCBX sits 20% above its 52-week low of $35.73.
Summary
Third Coast Bancshares agreed to acquire Great Plains Bancshares for ~$239.6M in stock, creating a ~$9B-asset bank spanning Texas and Oklahoma. The deal is projected to be ~14% accretive to 2028 EPS with ~5% TBV dilution.
Updates
· SEC 425 — CEO Bart Caraway said negotiations began in February and the deal is expected to close in Q1 2027.
Key Events · M&A and Partnerships · TCBX
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Definitive Merger Agreement Signed
Third Coast will acquire Great Plains Bancshares in an all-stock deal valued at ~$239.6M, issuing 5,570,352 shares of TCBX common stock based on the October 6, 2026 closing price.
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Combined $9B Asset Base
Pro forma combined assets of ~$9.0B, with ~$7.3B gross loans and ~$7.8B deposits; Great Plains contributes $1.9B in assets, $1.7B in loans, and $1.7B in deposits.
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Financial Impact Projections
Management projects ~14% EPS accretion by 2028, ~5% tangible book value dilution with a 2.5-year earnback, and 25%+ IRR, supported by $17.1M in cost savings (20% of Great Plains' 2027E non-interest expense).
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Ownership and Governance
Pro forma ownership split of 78% Third Coast / 22% Great Plains shareholders; two Great Plains representatives will join the TCBX board, and CEO Mark Russell will retain a senior leadership role.
Analysis · TCBX · Finance
Third Coast Bancshares is acquiring Great Plains Bancshares in an all-stock transaction valued at approximately $239.6 million, issuing 5,570,352 shares of TCBX common stock. The deal expands Third Coast's footprint into Oklahoma and deepens its North Texas presence, with the combined entity expected to hold roughly $9 billion in assets. Management projects ~14% EPS accretion by 2028 and a manageable ~5% tangible book value dilution with a 2.5-year earnback, supported by $17.1 million in targeted cost savings. The transaction requires shareholder and regulatory approvals and is expected to close in early Q1 2027.
How filings like this one have moved
In the 30 days to Oct 9, 2026, 36.7% of the 1045 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.63%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, TCBX was trading at $43.02 on NYSE in the Finance sector, with a market capitalization of approximately $716.5M. The 52-week trading range was $35.73 to $46.36. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.