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Third Coast Bancshares (TCBX) Financials

Third Coast Bancshares logo
$39.75 -0.09 (-0.23%)
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Annual Income Statements for Third Coast Bancshares

Annual Income Statements for Third Coast Bancshares

This table shows Third Coast Bancshares' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 17 29 43
Consolidated Net Income / (Loss)		 19 33 48
Net Income / (Loss) Continuing Operations		 19 33 48
Total Pre-Tax Income 		23 42 61
Total Revenue		 124 148 171
Net Interest Income / (Expense)		 116 140 161
Total Interest Income		 154 267 328
Loans and Leases Interest Income		 146 249 295
Investment Securities Interest Income		 3.93 8.31 17
Federal Funds Sold and Securities Borrowed Interest Income		 3.60 9.32 16
Total Interest Expense		 37 127 168
Deposits Interest Expense		 31 115 160
Long-Term Debt Interest Expense		 6.80 12 7.85
Total Non-Interest Income		 7.22 8.21 11
Other Service Charges		 4.96 5.18 8.12
Net Realized & Unrealized Capital Gains on Investments		 0.95 0.92 0.03
Other Non-Interest Income		 1.31 2.10 2.48
Provision for Credit Losses		 12 6.32 5.70
Total Non-Interest Expense		 88 100 104
Salaries and Employee Benefits		 57 62 65
Net Occupancy & Equipment Expense		 8.53 11 13
Marketing Expense		 1.91 2.63 1.71
Property & Liability Insurance Claims		 6.99 7.78 5.63
Other Operating Expenses		 14 16 19
Income Tax Expense		 4.51 8.21 14
Preferred Stock Dividends Declared		 1.42 4.74 4.75
Basic Earnings per Share		 $1.28 $2.11 $3.14
Weighted Average Basic Shares Outstanding		 13.58M 13.61M 13.79M
Diluted Earnings per Share		 $1.25 $1.98 $2.78
Weighted Average Diluted Shares Outstanding		 13.58M 13.61M 13.79M
Weighted Average Basic & Diluted Shares Outstanding		 13.58M 13.61M 13.79M

Quarterly Income Statements for Third Coast Bancshares

This table shows Third Coast Bancshares' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 6.77 6.11 8.07 7.71 4.39 8.49 9.20 9.61 12 13
Consolidated Net Income / (Loss)		 6.77 7.53 9.24 8.89 5.58 9.69 10 11 13 14
Net Income / (Loss) Continuing Operations		 6.77 7.53 9.24 8.89 5.58 9.69 10 11 13 14
Total Pre-Tax Income 		8.27 9.33 11 11 7.01 12 13 14 16 18
Total Revenue		 34 34 35 36 37 39 40 42 43 46
Net Interest Income / (Expense)		 31 32 33 34 35 37 38 39 40 43
Total Interest Income		 43 51 57 63 69 77 79 81 83 86
Loans and Leases Interest Income		 40 48 54 59 65 70 71 73 75 76
Investment Securities Interest Income		 1.37 1.39 1.55 2.03 1.99 2.75 3.09 4.49 4.53 4.94
Federal Funds Sold and Securities Borrowed Interest Income		 1.24 1.68 1.92 1.39 2.02 4.00 5.11 3.63 2.72 4.58
Total Interest Expense		 12 19 25 29 34 40 41 42 42 42
Deposits Interest Expense		 9.73 16 22 25 30 38 39 40 40 40
Long-Term Debt Interest Expense		 2.02 3.32 2.46 3.68 3.77 2.07 2.10 1.96 1.93 1.87
Total Non-Interest Income		 2.54 1.75 1.90 2.28 1.87 2.16 2.34 2.89 2.52 2.87
Other Service Charges		 1.39 1.13 1.33 1.75 0.85 1.25 1.57 2.18 2.35 2.02
Net Realized & Unrealized Capital Gains on Investments		 0.73 0.12 0.10 0.00 0.48 0.35 0.19 0.12 -0.48 0.20
Other Non-Interest Income		 0.42 0.50 0.48 0.53 0.54 0.56 0.58 0.59 0.65 0.66
Provision for Credit Losses		 2.90 1.95 1.20 1.40 2.62 1.10 1.56 1.90 1.09 1.16
Total Non-Interest Expense		 23 23 22 24 28 26 26 26 26 27
Salaries and Employee Benefits		 15 14 14 15 17 16 17 16 16 17
Net Occupancy & Equipment Expense		 2.23 2.59 2.63 2.85 2.93 2.88 3.05 3.15 3.23 3.29
Marketing Expense		 0.44 0.58 0.69 0.81 0.52 0.61 0.36 0.41 0.42 0.53
Property & Liability Insurance Claims		 1.35 1.89 1.93 1.55 2.00 2.31 1.39 1.62 1.04 1.59
Other Operating Expenses		 3.99 3.10 3.08 3.59 4.71 4.50 4.63 4.54 5.19 4.81
Income Tax Expense		 1.50 1.80 2.25 2.25 1.43 2.29 2.58 3.42 3.49 4.19
Preferred Stock Dividends Declared		 0.00 1.42 1.17 1.18 1.18 1.20 1.17 1.18 1.20 1.20
Basic Earnings per Share		 $0.50 $0.45 $0.60 $0.57 $0.32 $0.62 $0.68 $0.70 $0.85 $0.91
Weighted Average Basic Shares Outstanding		 - 13.58M 13.58M 13.61M 13.60M 13.61M 13.65M 13.67M 13.68M 13.79M
Diluted Earnings per Share		 $0.49 $0.45 $0.55 $0.53 $0.32 $0.58 $0.61 $0.63 $0.74 $0.80
Weighted Average Diluted Shares Outstanding		 - 13.58M 13.58M 13.61M 13.60M 13.61M 13.65M 13.67M 13.68M 13.79M
Weighted Average Basic & Diluted Shares Outstanding		 - 13.58M 13.58M 13.61M 13.60M 13.61M 13.65M 13.67M 13.68M 13.79M

Annual Cash Flow Statements for Third Coast Bancshares

This table details how cash moves in and out of Third Coast Bancshares' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 4.99 80 9.36
Net Cash From Operating Activities		 22 39 35
Net Cash From Continuing Operating Activities		 22 39 35
Net Income / (Loss) Continuing Operations		 19 33 48
Consolidated Net Income / (Loss)		 19 33 48
Provision For Loan Losses		 12 6.32 5.70
Depreciation Expense		 2.56 3.95 4.62
Amortization Expense		 -2.49 -4.62 -8.74
Non-Cash Adjustments to Reconcile Net Income		 -3.98 -5.17 -6.98
Changes in Operating Assets and Liabilities, net		 -5.15 5.19 -7.14
Net Cash From Investing Activities		 -1,240 -530 -521
Net Cash From Continuing Investing Activities		 -1,240 -530 -521
Purchase of Property, Leasehold Improvements and Equipment		 -12 -3.44 -1.77
Purchase of Investment Securities		 -3,226 -3,647 -4,600
Sale of Property, Leasehold Improvements and Equipment		 1.33 0.00 0.00
Sale and/or Maturity of Investments		 2,005 3,122 4,081
Other Investing Activities, net		 -7.88 -1.42 0.06
Net Cash From Financing Activities		 1,223 570 495
Net Cash From Continuing Financing Activities		 1,223 570 495
Net Change in Deposits		 1,095 567 507
Issuance of Debt		 110 8.00 -8.00
Issuance of Preferred Equity		 66 0.00 0.00
Issuance of Common Equity		 0.86 0.05 0.00
Repayment of Debt		 -50 0.00 0.00
Repurchase of Common Equity		 0.00 0.00 0.00
Payment of Dividends		 -0.22 -4.74 -4.75
Other Financing Activities, Net		 0.67 -0.02 0.55
Cash Interest Paid		 35 125 166
Cash Income Taxes Paid		 7.07 8.57 16

Quarterly Cash Flow Statements for Third Coast Bancshares

This table details how cash moves in and out of Third Coast Bancshares' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Change in Cash & Equivalents		 -102 114 -21 -43 19 125 86 -244 17 151
Net Cash From Operating Activities		 11 6.18 7.98 11 3.07 18 9.43 7.30 22 -3.63
Net Cash From Continuing Operating Activities		 11 6.18 7.98 11 3.07 18 9.43 7.30 22 -3.63
Net Income / (Loss) Continuing Operations		 6.77 7.53 9.24 8.89 5.58 9.69 10 11 13 14
Consolidated Net Income / (Loss)		 6.77 7.53 9.24 8.89 5.58 9.69 10 11 13 14
Provision For Loan Losses		 2.90 1.95 1.20 1.40 2.62 1.10 1.56 1.90 1.09 1.16
Depreciation Expense		 -0.58 3.24 0.22 0.07 -0.25 3.90 -0.29 -0.65 -1.00 6.56
Amortization Expense		 0.08 -2.75 0.18 -0.16 0.05 -4.69 -0.18 -0.39 -0.17 -8.00
Non-Cash Adjustments to Reconcile Net Income		 1.28 -1.49 -0.25 -1.61 -1.61 -1.70 -1.27 -1.67 0.00 -4.04
Changes in Operating Assets and Liabilities, net		 0.12 -2.29 -2.63 1.91 -3.32 9.23 -0.77 -2.68 9.34 -13
Net Cash From Investing Activities		 -248 -144 -114 -138 -227 -50 -174 -48 -138 -160
Net Cash From Continuing Investing Activities		 -248 -144 -114 -138 -227 -50 -174 -48 -138 -160
Purchase of Investment Securities		 -1,856 -532 -119 -1,838 -242 -1,449 -182 -1,871 -755 -1,793
Sale and/or Maturity of Investments		 1,604 399 4.43 1,706 10 1,402 7.86 1,822 625 1,626
Other Investing Activities, net		 - - -0.13 -5.94 4.89 -0.24 -0.05 -0.05 -8.18 8.35
Net Cash From Financing Activities		 135 252 85 85 242 158 251 -203 133 314
Net Cash From Continuing Financing Activities		 135 252 85 85 242 158 251 -203 133 314
Net Change in Deposits		 86 252 86 86 239 156 248 -195 139 316
Issuance of Debt		 -0.12 -0.00 0.00 - 5.00 3.00 5.00 -7.00 -5.00 -1.00
Payment of Dividends		 - -0.22 -1.20 -1.17 -1.18 -1.18 -1.20 -1.17 -1.19 -1.20
Other Financing Activities, Net		 0.56 - 0.00 - -0.01 -0.01 0.16 - -0.08 0.47
Cash Interest Paid		 11 19 25 27 33 39 42 41 41 43
Cash Income Taxes Paid		 1.50 1.82 0.00 3.88 2.34 2.35 0.00 3.21 0.00 13

Annual Balance Sheets for Third Coast Bancshares

This table presents Third Coast Bancshares' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Total Assets		 3,773 4,396 4,942
Cash and Due from Banks		 330 297 371
Federal Funds Sold		 2.15 115 50
Interest Bearing Deposits at Other Banks		 - 0.00 0.36
Trading Account Securities		 200 203 406
Loans and Leases, Net of Allowance		 0.00 0.00 0.00
Premises and Equipment, Net		 29 29 26
Goodwill		 18 19 19
Other Assets		 116 3,734 4,069
Total Liabilities & Shareholders' Equity		 3,773 4,396 4,942
Total Liabilities		 3,391 3,984 4,482
Non-Interest Bearing Deposits		 486 460 602
Interest Bearing Deposits		 2,750 3,344 3,708
Short-Term Debt		 31 39 31
Accrued Interest Payable		 2.55 4.79 6.28
Long-Term Debt		 80 81 81
Other Long-Term Liabilities		 41 57 53
Commitments & Contingencies		 - 0.00 0.00
Total Equity & Noncontrolling Interests		 382 412 461
Total Preferred & Common Equity		 382 412 461
Preferred Stock		 0.07 0.07 0.07
Total Common Equity		 382 412 461
Common Stock		 332 333 336
Retained Earnings		 53 79 122
Treasury Stock		 -1.10 -1.10 -1.10
Accumulated Other Comprehensive Income / (Loss)		 -2.10 0.93 4.51

Quarterly Balance Sheets for Third Coast Bancshares

This table presents Third Coast Bancshares' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024
Total Assets		 3,860 3,963 4,216 4,660 4,474 4,628
Cash and Due from Banks		 309 245 142 368 242 258
Federal Funds Sold		 1.79 23 144 130 12 12
Interest Bearing Deposits at Other Banks		 - - - - 0.35 0.35
Trading Account Securities		 195 215 228 273 310 322
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 29 29 29 27 28 27
Goodwill		 18 18 18 18 19 0.00
Intangible Assets		 1.09 1.05 1.01 0.93 0.00 0.00
Other Assets		 129 135 132 135 3,863 3,989
Total Liabilities & Shareholders' Equity		 3,860 3,963 4,216 4,660 4,474 4,628
Total Liabilities		 3,473 3,568 3,815 4,237 4,039 4,177
Non-Interest Bearing Deposits		 517 529 500 424 464 490
Interest Bearing Deposits		 2,806 2,879 3,147 3,627 3,391 3,505
Short-Term Debt		 31 31 36 44 37 32
Accrued Interest Payable		 1.64 3.52 4.32 3.93 5.67 7.28
Long-Term Debt		 80 80 81 81 81 81
Other Long-Term Liabilities		 37 44 48 58 60 63
Total Equity & Noncontrolling Interests		 387 396 400 424 435 451
Total Preferred & Common Equity		 387 396 400 424 435 451
Preferred Stock		 0.07 0.07 0.07 0.07 0.07 0.07
Total Common Equity		 387 396 400 424 435 450
Common Stock		 332 332 333 334 334 335
Retained Earnings		 58 66 70 88 98 109
Treasury Stock		 -1.10 -1.10 -1.10 -1.10 -1.10 -1.10
Accumulated Other Comprehensive Income / (Loss)		 -2.12 -1.37 -1.74 2.87 4.21 7.80

Annual Metrics And Ratios for Third Coast Bancshares

This table displays calculated financial ratios and metrics derived from Third Coast Bancshares' official financial filings.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - -
Revenue Growth		 29.60% 19.45% 16.01%
EBITDA Growth		 63.09% 76.21% 39.79%
EBIT Growth		 59.97% 79.61% 47.44%
NOPAT Growth		 63.33% 79.01% 42.72%
Net Income Growth		 63.33% 79.01% 42.72%
EPS Growth		 -10.71% 58.40% 40.40%
Operating Cash Flow Growth		 375.37% 79.32% -10.08%
Free Cash Flow Firm Growth		 -10.04% 95.98% 234.45%
Invested Capital Growth		 40.86% 7.79% 7.71%
Revenue Q/Q Growth		 6.21% 3.93% 4.15%
EBITDA Q/Q Growth		 -22.11% 3.48% 10.19%
EBIT Q/Q Growth		 61.70% 6.79% 10.74%
NOPAT Q/Q Growth		 62.43% 6.93% 9.27%
Net Income Q/Q Growth		 62.43% 6.93% 9.27%
EPS Q/Q Growth		 119.30% 7.03% 8.59%
Operating Cash Flow Q/Q Growth		 27.44% 40.96% -37.58%
Free Cash Flow Firm Q/Q Growth		 0.00% 98.97% 340.34%
Invested Capital Q/Q Growth		 0.00% 2.84% 1.64%
Profitability Metrics		 - - -
EBITDA Margin		 18.79% 27.71% 33.40%
EBIT Margin		 18.73% 28.17% 35.80%
Profit (Net Income) Margin		 15.09% 22.61% 27.82%
Tax Burden Percent		 80.54% 80.27% 77.70%
Interest Burden Percent		 100.00% 100.00% 100.00%
Effective Tax Rate		 19.46% 19.73% 22.30%
Return on Invested Capital (ROIC)		 4.43% 6.52% 8.64%
ROIC Less NNEP Spread (ROIC-NNEP)		 4.43% 6.52% 8.64%
Return on Net Nonoperating Assets (RNNOA)		 1.05% 1.89% 2.29%
Return on Equity (ROE)		 5.48% 8.42% 10.93%
Cash Return on Invested Capital (CROIC)		 -29.50% -0.98% 1.22%
Operating Return on Assets (OROA)		 0.74% 1.02% 1.31%
Return on Assets (ROA)		 0.59% 0.82% 1.02%
Return on Common Equity (ROCE)		 5.48% 8.41% 10.92%
Return on Equity Simple (ROE_SIMPLE)		 4.89% 8.11% 10.35%
Net Operating Profit after Tax (NOPAT)		 19 33 48
NOPAT Margin		 15.09% 22.61% 27.82%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 54.13% 51.53% 46.41%
Operating Expenses to Revenue		 71.40% 67.55% 60.88%
Earnings before Interest and Taxes (EBIT)		 23 42 61
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 23 41 57
Valuation Ratios		 - - -
Price to Book Value (P/BV)		 0.65 0.66 1.01
Price to Tangible Book Value (P/TBV)		 0.69 0.69 1.05
Price to Revenue (P/Rev)		 2.01 1.83 2.71
Price to Earnings (P/E)		 14.43 9.43 10.82
Dividend Yield		 0.00% 0.00% 0.00%
Earnings Yield		 6.93% 10.60% 9.24%
Enterprise Value to Invested Capital (EV/IC)		 0.06 0.00 0.27
Enterprise Value to Revenue (EV/Rev)		 0.23 0.00 0.90
Enterprise Value to EBITDA (EV/EBITDA)		 1.21 0.00 2.70
Enterprise Value to EBIT (EV/EBIT)		 1.21 0.00 2.52
Enterprise Value to NOPAT (EV/NOPAT)		 1.51 0.00 3.24
Enterprise Value to Operating Cash Flow (EV/OCF)		 1.29 0.00 4.40
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 23.00
Leverage & Solvency		 - - -
Debt to Equity		 0.29 0.29 0.24
Long-Term Debt to Equity		 0.21 0.20 0.18
Financial Leverage		 0.24 0.29 0.26
Leverage Ratio		 9.21 10.29 10.70
Compound Leverage Factor		 9.21 10.29 10.70
Debt to Total Capital		 22.56% 22.47% 19.50%
Short-Term Debt to Total Capital		 6.26% 7.32% 5.39%
Long-Term Debt to Total Capital		 16.30% 15.16% 14.11%
Preferred Equity to Total Capital		 0.01% 0.01% 0.01%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00%
Common Equity to Total Capital		 77.43% 77.51% 80.48%
Debt to EBITDA		 4.79 2.92 1.95
Net Debt to EBITDA		 -9.50 -7.14 -5.42
Long-Term Debt to EBITDA		 3.46 1.97 1.41
Debt to NOPAT		 5.96 3.58 2.34
Net Debt to NOPAT		 -11.83 -8.75 -6.50
Long-Term Debt to NOPAT		 4.31 2.41 1.69
Noncontrolling Interest Sharing Ratio		 0.01% 0.02% 0.02%
Liquidity Ratios		 - - -
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 -124 -5.00 6.72
Operating Cash Flow to CapEx		 200.60% 1,136.89% 1,989.58%
Free Cash Flow to Firm to Interest Expense		 -3.32 -0.04 0.04
Operating Cash Flow to Interest Expense		 0.58 0.31 0.21
Operating Cash Flow Less CapEx to Interest Expense		 0.29 0.28 0.20
Efficiency Ratios		 - - -
Asset Turnover		 0.04 0.04 0.04
Fixed Asset Turnover		 5.18 5.16 6.26
Capital & Investment Metrics		 - - -
Invested Capital		 493 531 572
Invested Capital Turnover		 0.29 0.29 0.31
Increase / (Decrease) in Invested Capital		 143 38 41
Enterprise Value (EV)		 28 -22 155
Market Capitalization		 249 270 464
Book Value per Share		 $28.27 $30.28 $33.68
Tangible Book Value per Share		 $26.85 $28.88 $32.30
Total Capital		 493 531 572
Total Debt		 111 119 112
Total Long-Term Debt		 80 81 81
Net Debt		 -221 -292 -310
Capital Expenditures (CapEx)		 11 3.44 1.77
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 111 119 112
Total Depreciation and Amortization (D&A)		 0.07 -0.67 -4.12
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 $1.28 $2.11 $3.14
Adjusted Weighted Average Basic Shares Outstanding		 13.58M 13.61M 13.79M
Adjusted Diluted Earnings per Share		 $1.25 $1.98 $2.78
Adjusted Weighted Average Diluted Shares Outstanding		 13.58M 13.61M 13.79M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 13.58M 13.61M 13.79M
Normalized Net Operating Profit after Tax (NOPAT)		 19 33 48
Normalized NOPAT Margin		 15.09% 22.61% 27.82%
Pre Tax Income Margin		 18.73% 28.17% 35.80%
Debt Service Ratios		 - - -
EBIT to Interest Expense		 0.62 0.33 0.37
NOPAT to Interest Expense		 0.50 0.26 0.28
EBIT Less CapEx to Interest Expense		 0.33 0.30 0.36
NOPAT Less CapEx to Interest Expense		 0.21 0.24 0.27
Payout Ratios		 - - -
Dividend Payout Ratio		 1.18% 14.18% 9.96%
Augmented Payout Ratio		 1.18% 14.18% 9.96%

Quarterly Metrics And Ratios for Third Coast Bancshares

This table displays calculated financial ratios and metrics derived from Third Coast Bancshares' official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 47.58% 27.11% 29.23% 25.42% 9.56% 16.47% 16.38% 14.76% 15.53% 17.28%
EBITDA Growth		 157.13% -40.20% 413.78% 231.05% -12.40% 14.01% 4.95% 19.17% 121.86% 47.29%
EBIT Growth		 175.27% 1,817.29% 326.27% 286.71% -15.20% 28.38% 12.71% 27.61% 132.00% 49.70%
NOPAT Growth		 183.83% 2,027.17% 342.88% 290.47% -17.61% 28.76% 12.16% 21.43% 129.02% 41.74%
Net Income Growth		 183.83% 2,027.17% 342.88% 290.47% -17.61% 28.76% 12.16% 21.43% 129.02% 41.74%
EPS Growth		 75.00% 295.65% 266.67% 231.25% -34.69% 28.89% 10.91% 18.87% 131.25% 37.93%
Operating Cash Flow Growth		 261.28% 315.92% 804.65% 152.53% -71.01% 183.81% 18.15% -30.45% 618.83% -120.68%
Free Cash Flow Firm Growth		 203.59% 0.00% 86.91% 84.34% -293.45% 78.81% 30.08% 48.70% 93.42% 5.20%
Invested Capital Growth		 0.00% 40.86% 15.16% 17.64% 0.00% 7.79% 9.99% 8.92% 8.98% 7.71%
Revenue Q/Q Growth		 16.86% 0.03% 2.44% 4.73% 2.08% 6.34% 2.37% 3.28% 2.76% 7.95%
EBITDA Q/Q Growth		 132.49% 26.40% 21.18% -7.04% -38.48% 64.51% 11.56% 5.56% 14.53% 9.22%
EBIT Q/Q Growth		 186.88% 12.85% 23.17% -3.02% -37.09% 70.84% 8.13% 9.80% 14.38% 10.23%
NOPAT Q/Q Growth		 197.32% 11.15% 22.83% -3.81% -37.26% 73.70% 7.00% 4.14% 18.33% 7.50%
Net Income Q/Q Growth		 197.32% 11.15% 22.83% -3.81% -37.26% 73.70% 7.00% 4.14% 18.33% 7.50%
EPS Q/Q Growth		 206.25% -8.16% 22.22% -3.64% -39.62% 81.25% 5.17% 3.28% 17.46% 8.11%
Operating Cash Flow Q/Q Growth		 154.31% -41.58% 29.17% 31.60% -70.81% 471.97% -46.23% -22.53% 201.68% -116.46%
Free Cash Flow Firm Q/Q Growth		 161.60% -151.27% 58.39% -19.17% -660.94% 94.38% -37.28% 12.56% 2.36% 19.11%
Invested Capital Q/Q Growth		 -100.00% 0.00% 1.08% 1.80% 1.86% 2.84% 3.14% 0.81% 1.92% 1.64%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 22.91% 28.95% 34.25% 30.40% 18.32% 28.34% 30.88% 31.56% 35.18% 35.59%
EBIT Margin		 24.39% 27.51% 33.08% 30.63% 18.87% 30.32% 32.03% 34.06% 37.90% 38.71%
Profit (Net Income) Margin		 19.97% 22.20% 26.61% 24.44% 15.02% 24.54% 25.65% 25.86% 29.78% 29.65%
Tax Burden Percent		 81.91% 80.68% 80.46% 79.80% 79.58% 80.92% 80.07% 75.94% 78.56% 76.61%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 18.09% 19.32% 19.54% 20.20% 20.42% 19.08% 19.93% 24.06% 21.44% 23.39%
Return on Invested Capital (ROIC)		 0.00% 6.51% 7.52% 7.24% 8.26% 7.08% 7.52% 7.75% 9.08% 9.21%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 6.51% 7.52% 7.24% 8.26% 7.08% 7.52% 7.75% 9.08% 9.21%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 1.55% 2.65% 2.49% 2.40% 2.06% 2.19% 2.13% 2.44% 2.44%
Return on Equity (ROE)		 0.00% 8.06% 10.17% 9.73% 10.67% 9.13% 9.71% 9.88% 11.52% 11.65%
Cash Return on Invested Capital (CROIC)		 0.00% -29.50% -8.55% -9.30% -187.91% -0.98% -2.92% -1.67% -0.52% 1.22%
Operating Return on Assets (OROA)		 0.00% 1.08% 1.26% 1.16% 0.64% 1.10% 1.15% 1.28% 1.41% 1.42%
Return on Assets (ROA)		 0.00% 0.88% 1.01% 0.93% 0.51% 0.89% 0.92% 0.97% 1.11% 1.09%
Return on Common Equity (ROCE)		 0.00% 8.06% 10.17% 9.73% 10.67% 9.13% 9.71% 9.88% 11.52% 11.65%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 6.67% 8.19% 7.80% 0.00% 8.15% 8.37% 9.68% 0.00%
Net Operating Profit after Tax (NOPAT)		 6.77 7.53 9.24 8.89 5.58 9.69 10 11 13 14
NOPAT Margin		 19.97% 22.20% 26.61% 24.44% 15.02% 24.54% 25.65% 25.86% 29.78% 29.65%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 51.31% 52.04% 49.04% 51.40% 55.99% 49.66% 49.24% 46.64% 45.05% 44.99%
Operating Expenses to Revenue		 67.06% 66.74% 63.47% 65.52% 74.07% 66.89% 64.11% 61.39% 59.57% 58.80%
Earnings before Interest and Taxes (EBIT)		 8.27 9.33 11 11 7.01 12 13 14 16 18
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 7.77 9.82 12 11 6.80 11 12 13 15 16
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.65 0.55 0.54 0.58 0.66 0.64 0.67 0.81 1.01
Price to Tangible Book Value (P/TBV)		 0.00 0.69 0.58 0.57 0.61 0.69 0.67 0.70 0.81 1.05
Price to Revenue (P/Rev)		 1.98 2.01 1.62 1.55 1.64 1.83 1.78 1.83 2.22 2.71
Price to Earnings (P/E)		 20.11 14.43 9.19 7.52 8.85 9.43 9.14 9.16 9.41 10.82
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 4.97% 6.93% 10.89% 13.30% 11.29% 10.60% 10.94% 10.91% 10.63% 9.24%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.06 0.03 0.12 0.12 0.00 0.00 0.28 0.37 0.27
Enterprise Value to Revenue (EV/Rev)		 0.00 0.23 0.10 0.42 0.44 0.00 0.00 0.97 1.26 0.90
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 1.21 0.42 1.45 1.58 0.00 0.00 3.52 4.00 2.70
Enterprise Value to EBIT (EV/EBIT)		 0.00 1.21 0.43 1.46 1.61 0.00 0.00 3.33 3.75 2.52
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 1.51 0.53 1.82 2.00 0.00 0.00 4.22 4.76 3.24
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 1.29 0.48 1.67 2.26 0.00 0.00 4.12 3.69 4.40
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 23.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.00 0.29 0.29 0.28 0.29 0.29 0.29 0.27 0.25 0.24
Long-Term Debt to Equity		 0.00 0.21 0.21 0.20 0.20 0.20 0.19 0.19 0.18 0.18
Financial Leverage		 0.00 0.24 0.35 0.34 0.29 0.29 0.29 0.28 0.27 0.26
Leverage Ratio		 0.00 9.21 10.03 10.49 10.53 10.29 10.51 10.15 10.39 10.70
Compound Leverage Factor		 0.00 9.21 10.03 10.49 10.53 10.29 10.51 10.15 10.39 10.70
Debt to Total Capital		 0.00% 22.56% 22.33% 21.95% 22.52% 22.47% 22.71% 21.27% 19.99% 19.50%
Short-Term Debt to Total Capital		 0.00% 6.26% 6.20% 6.09% 6.94% 7.32% 8.01% 6.67% 5.66% 5.39%
Long-Term Debt to Total Capital		 0.00% 16.30% 16.13% 15.86% 15.58% 15.16% 14.71% 14.60% 14.33% 14.11%
Preferred Equity to Total Capital		 0.00% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 0.00% 77.43% 77.66% 78.04% 77.46% 77.51% 77.28% 78.72% 80.00% 80.48%
Debt to EBITDA		 0.00 4.79 3.39 2.75 2.94 2.92 3.00 2.69 2.17 1.95
Net Debt to EBITDA		 0.00 -9.50 -6.08 -3.87 -4.30 -7.14 -9.00 -3.13 -3.05 -5.42
Long-Term Debt to EBITDA		 0.00 3.46 2.45 1.98 2.03 1.97 1.94 1.85 1.55 1.41
Debt to NOPAT		 0.00 5.96 4.31 3.43 3.73 3.58 3.61 3.23 2.58 2.34
Net Debt to NOPAT		 0.00 -11.83 -7.73 -4.83 -5.45 -8.75 -10.83 -3.75 -3.63 -6.50
Long-Term Debt to NOPAT		 0.00 4.31 3.11 2.48 2.58 2.41 2.33 2.21 1.85 1.69
Noncontrolling Interest Sharing Ratio		 0.00% 0.01% 0.01% 0.01% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 264 -135 -56 -67 -511 -29 -39 -34 -34 -27
Operating Cash Flow to CapEx		 326.56% 154.43% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 22.49 -7.13 -2.30 -2.35 -14.98 -0.72 -0.97 -0.81 -0.79 -0.65
Operating Cash Flow to Interest Expense		 0.90 0.33 0.33 0.37 0.09 0.44 0.23 0.17 0.52 -0.09
Operating Cash Flow Less CapEx to Interest Expense		 0.62 0.11 0.33 0.37 0.09 0.44 0.23 0.17 0.52 -0.09
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.00 0.04 0.04 0.04 0.03 0.04 0.04 0.04 0.04 0.04
Fixed Asset Turnover		 0.00 5.18 5.33 5.38 4.90 5.16 5.54 5.64 5.91 6.26
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 0.00 493 498 507 517 531 548 553 563 572
Invested Capital Turnover		 0.00 0.29 0.28 0.30 0.55 0.29 0.29 0.30 0.30 0.31
Increase / (Decrease) in Invested Capital		 -257 143 66 76 517 38 50 45 46 41
Enterprise Value (EV)		 0.00 28 14 59 63 -22 -101 154 208 155
Market Capitalization		 231 249 213 216 233 270 272 290 366 464
Book Value per Share		 $0.00 $28.27 $28.50 $29.15 $29.42 $30.28 $31.13 $31.86 $32.97 $33.68
Tangible Book Value per Share		 $0.00 $26.85 $27.09 $27.75 $28.02 $28.88 $29.73 $30.47 $32.97 $32.30
Total Capital		 0.00 493 498 507 517 531 548 553 563 572
Total Debt		 0.00 111 111 111 116 119 124 118 113 112
Total Long-Term Debt		 0.00 80 80 80 81 81 81 81 81 81
Net Debt		 0.00 -221 -200 -157 -170 -292 -374 -137 -158 -310
Capital Expenditures (CapEx)		 3.24 4.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 0.00 111 111 111 116 119 124 118 113 112
Total Depreciation and Amortization (D&A)		 -0.50 0.49 0.41 -0.08 -0.21 -0.78 -0.47 -1.04 -1.17 -1.44
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.45 $0.60 $0.57 $0.32 $0.62 $0.68 $0.70 $0.85 $0.91
Adjusted Weighted Average Basic Shares Outstanding		 0.00 13.58M 13.58M 13.61M 13.60M 13.61M 13.65M 13.67M 13.68M 13.79M
Adjusted Diluted Earnings per Share		 $0.00 $0.45 $0.55 $0.53 $0.32 $0.58 $0.61 $0.63 $0.74 $0.80
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 13.58M 13.58M 13.61M 13.60M 13.61M 13.65M 13.67M 13.68M 13.79M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 13.58M 13.58M 13.61M 13.60M 13.61M 13.65M 13.67M 13.68M 13.79M
Normalized Net Operating Profit after Tax (NOPAT)		 6.77 7.53 9.24 8.89 5.58 9.69 10 11 13 14
Normalized NOPAT Margin		 19.97% 22.20% 26.61% 24.44% 15.02% 24.54% 25.65% 25.86% 29.78% 29.65%
Pre Tax Income Margin		 24.39% 27.51% 33.08% 30.63% 18.87% 30.32% 32.03% 34.06% 37.90% 38.71%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 0.70 0.49 0.47 0.39 0.21 0.30 0.32 0.34 0.38 0.43
NOPAT to Interest Expense		 0.58 0.40 0.38 0.31 0.16 0.24 0.25 0.25 0.30 0.33
EBIT Less CapEx to Interest Expense		 0.43 0.28 0.47 0.39 0.21 0.30 0.32 0.34 0.38 0.43
NOPAT Less CapEx to Interest Expense		 0.30 0.19 0.38 0.31 0.16 0.24 0.25 0.25 0.30 0.33
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 0.00% 1.18% 5.49% 7.98% 12.08% 14.18% 13.72% 13.00% 10.86% 9.96%
Augmented Payout Ratio		 0.00% 1.18% 5.49% 7.98% 12.08% 14.18% 13.72% 13.00% 10.86% 9.96%

Key Financial Trends

Third Coast Bancshares (NASDAQ: TCBX) has demonstrated steady financial growth and stability over the last four years, particularly highlighted in the recent quarterly reports for 2024 compared to 2023 and 2022 figures.

Key Positive Developments:

  • Net interest income has consistently increased each quarter in 2024, reaching $43.4 million in Q4 2024, up from $37.3 million in Q4 2023 and $32.1 million in Q4 2022, indicating strong core banking profitability.
  • Net income attributable to common shareholders has grown from $6.1 million in Q4 2022 to $12.5 million in Q4 2024, showing over 100% growth and demonstrating improved profitability.
  • Earnings per share (diluted) increased to $0.80 in Q4 2024 from $0.32 in Q4 2023 and $0.19 in Q4 2022, reflecting improved earnings on a per-share basis.
  • Total deposits increased significantly with a net change of $316 million in Q4 2024, reflecting strong customer confidence and deposit growth supporting lending and investment activities.
  • Total common equity has grown steadily, reaching approximately $450.5 million by Q3 2024 compared to about $400 million at Q3 2023 and $386 million a year earlier, strengthening the company's capital base.
  • Provision for credit losses remained well-managed, slightly increasing but still modest at $1.16 million in Q4 2024, indicating careful credit risk controls amid growth.
  • Consistent positive net cash from financing activities, with substantial dividend payments supporting shareholder returns and debt issuance reflecting strategic capital management.
  • Stable or slightly increasing non-interest income, supported by service charges and modest capital gains, adds some diversification to revenue streams.

Neutral Factors:

  • Net cash from investing activities remains negative each quarter due to active investment securities purchases, signaling ongoing portfolio expansion and liquidity management.
  • Depreciation and amortization expenses contain some variability quarter to quarter but are consistent with ongoing asset utilization and amortization of intangibles.

Potential Concerns:

  • Operating cash flow showed a negative $3.6 million in Q4 2024, down from positive $22 million in Q3 2024, driven by unfavorable changes in operating assets and liabilities, which may need monitoring for sustainability.
  • Marketing and insurance claims expenses showed an uptick in Q4 2024, with property & liability insurance claims increasing to $1.58 million, potentially pressuring operating costs if trend continues.
  • Although provision for credit losses is controlled, a rising trend from prior periods could indicate cautious stance on credit quality amid growth.

Summary: Third Coast Bancshares has shown robust revenue and earnings growth, supported by strong interest income expansion and increased equity capital. Deposit growth and profitability metrics are positive indicators of financial health. While there are some fluctuations in cash flows and rising operational expenses that warrant attention, overall, the bank's financial position has strengthened significantly over the analyzed period.

Retail investors may find TCBX's improving earnings and growing capital base promising, with continued diligence recommended regarding operational cash flow variability and underwriting quality.

08/25/25 12:21 PMAI Generated. May Contain Errors.

Frequently Asked Questions About Third Coast Bancshares' Financials

When does Third Coast Bancshares' fiscal year end?

According to the most recent income statement we have on file, Third Coast Bancshares' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Third Coast Bancshares' net income changed over the last 2 years?

Third Coast Bancshares' net income appears to be on an upward trend, with a most recent value of $47.67 million in 2024, rising from $18.66 million in 2022. The previous period was $33.40 million in 2023. See where experts think Third Coast Bancshares is headed by visiting Third Coast Bancshares' forecast page.

How has Third Coast Bancshares' revenue changed over the last 2 years?

Over the last 2 years, Third Coast Bancshares' total revenue changed from $123.68 million in 2022 to $171.38 million in 2024, a change of 38.6%.

How much debt does Third Coast Bancshares have?

Third Coast Bancshares' total liabilities were at $4.48 billion at the end of 2024, a 12.5% increase from 2023, and a 32.2% increase since 2022.

How much cash does Third Coast Bancshares have?

In the past 2 years, Third Coast Bancshares' cash and equivalents has ranged from $296.93 million in 2023 to $371.16 million in 2024, and is currently $371.16 million as of their latest financial filing in 2024.

How has Third Coast Bancshares' book value per share changed over the last 2 years?

Over the last 2 years, Third Coast Bancshares' book value per share changed from 28.27 in 2022 to 33.68 in 2024, a change of 19.1%.


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This page (NASDAQ:TCBX) was last updated on 8/25/2025 by MarketBeat.com Staff
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