TCBX · Third Coast Bancshares, Inc.

Third Coast Bancshares reported first quarter 2026 net income of $16.4 million, a decrease from $17.9 million in the fourth quarter of 2025, primarily driven by $3.3 million in non-recurring merger-related expenses from the Keystone acquisition completed on February 1, 2026. The merger significantly impacted the balance sheet, adding approximately $812.0 million in loans, $1 billion in assets, and $844.2 million in deposits. Net interest income increased 2.8% to $53.6 million despite a decline in net interest margin to 3.67% from 4.10% in the prior quarter, reflecting both loan growth and pressure on loan yields. Noninterest expense increased to $38.1 million, with the quarter-over-quarter rise primarily attributable to merger-related costs including $1.6 million in legal and professional expenses and $1.3 million in salaries and employee benefits. Asset quality showed some deterioration with nonperforming loans increasing to $35.6 million, primarily due to one $17.1 million loan placed on nonaccrual, though the company recorded net recoveries of $4,000 for the quarter. Management highlighted the successful Keystone merger as meaningfully increasing the balance sheet and capabilities, with strong momentum across loan pipelines and core markets. The company will discuss these results on an investor call scheduled for April 23, 2026.