Third Coast Bancshares approves $30M share repurchase program

Third Coast Bancshares, Inc. (NYSE: TCBX) announced that its Board of Directors approved a share repurchase program allowing the company to buy back up to $30 million of its common stock, according to a press release.

The program, which runs through June 30, 2027, permits the Texas-based bank holding company to purchase shares through open market transactions, privately negotiated deals, block trades, or other methods compliant with federal securities laws. The company notified the Federal Reserve Bank of Dallas of the program.

The Board of Directors may extend, modify, amend, suspend, or halt the program at any time, and the program does not obligate the company to repurchase any shares. Management will determine the specifics of each repurchase, including method, timing, target number of shares, and price range, based on factors such as the company's capital status, liquidity, financial performance, stock market price, and market and economic conditions.

Third Coast Bancshares operates through its subsidiary, Third Coast Bank, which conducts banking operations through 21 branches in the Austin, Dallas-Fort Worth, Greater Houston, and San Antonio markets.

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