The Bank Slate


Third Coast in Texas could raise $75M from planned IPO

Third Coast Bancshares in Humble, Texas, could raise $75 million as part of a planned initial public offering.

The $2 billion-asset parent of Third Coast Bank filed its registration statement with the Securities and Exchange Commission on Friday. The company did not disclose how many shares it will sell or the potential pricing; it said the amount of capital was provided for calculating the registration fee.

Third Coast said it plans to use net proceeds from the offering to support organic growth and other purposes that could include maintaining required capital levels and potential acquisitions. The company does not have any definitive agreements in place right now for acquisitions.

Third Coast earned $12.1 million in 2020.

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