Third Coast Bancshares to Acquire Great Plains in $239.6 Million All-Stock Deal

PR Newswire··US·Read original
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Summary · why it matters

Third Coast Bancshares, Inc. and Great Plains Bancshares, Inc. jointly announced the signing of a definitive merger agreement under which Third Coast will acquire Great Plains in an all-stock transaction valued at approximately $239.6 million, based on Third Coast's closing stock price as of October 6, 2026. On a pro forma basis, the combined company is expected to have approximately $9 billion in assets following completion of the transaction. Third Coast expects to issue 5,570,352 shares of its common stock, resulting in pro forma equity ownership of approximately 78% by Third Coast shareholders and 22% by Great Plains shareholders. Great Plains, headquartered in Oklahoma City, Oklahoma, operates a 23-branch franchise across Oklahoma and Texas and reported approximately $1.9 billion in total assets as of June 30, 2026. The transaction has been unanimously approved by the boards of both companies and is expected to close in the first quarter of 2027, subject to customary regulatory approvals, approval by Great Plains' shareholders and approval by Third Coast's shareholders of the share issuance. Two Great Plains representatives will be appointed to the boards of directors of Third Coast and Third Coast Bank, and Great Plains Chief Executive Officer Mark Russell has agreed to continue serving in a leadership role following the closing.

Impact on assets 2

Financials▲
Third Coast Bancshares, Inc.
TCBX
▲ PositiveCapitalrelevance

Third Coast is the acquirer in a $239.6M all-stock merger, issuing shares to buy Great Plains and forming a ~$9B-asset combined company.

Off-coverage companies 1

Great Plains Bancshares, Inc.i
Private▲ PositiveCapitalrelevance

Great Plains is being acquired by Third Coast in an all-stock deal valued at ~$239.6M, with its shareholders receiving 22% pro forma equity.