Stonegate Updates Coverage on Third Coast Bancshares, Inc. (NasdaqGS:TCBX) Q4 2024

DALLAS, TX -- January 27th, 2024 -- Third Coast Bancshares, Inc. (NasdaqGS:TCBX): Stonegate Capital Partners updates their coverage on Third Coast Bancshares, Inc. For 4Q24, Third Coast reported net income of $13.7M, up from $12.8M in 3Q24. This was equal to a basic and diluted EPS of $0.92 and $0.79, respectively. The Q/Q growth was primarily attributed to higher net interest income, driven by loan growth and increased investments in federal funds sold and interest-bearing deposits with correspondent banks. However, this increase was partially offset by a slightly higher provision for credit losses and rising expenses related to salaries and employee benefits. We anticipate that the Company will continue prioritizing operational efficiency by sustaining its 1% improvement initiative. This strategy is expected to support Third Coast in the current macroeconomic landscape.

To view the full announcement, including downloadable images, bios, and more, click here.

Click image above to view full announcement.

Source: Stonegate, Inc.

Distributed by: Reportable, Inc.

You May Also Be Interested In

• USANA CEO Kevin Guest Calls on People to Find a Way to Serve Others, Then Act
• Bitzero Provides Corporate Update on Balance Sheet, Site Readiness and Leasing Progress
• Delota Reports Financial Results for the Three Months Ended June 30, 2026