A Business at a Glance
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We are a bank holding company with headquarters in Humble, Texas that operates through our wholly owned subsidiary, the Bank, and the Bank’s wholly owned subsidiary, TCCC. We focus on providing commercial banking solutions to small and medium-sized businesses and professionals with operations in our markets. Our market expertise, coupled with a deep understanding of our customers’ needs, allows us to deliver tailored financial products and services. We currently operate eighteen branches in the Greater Houston, Dallas-Fort Worth, and Austin-San Antonio markets, and one branch in Detroit, Texas. We have experienced significant organic growth since commencing banking operations in 2008 as well as growth through our 2020 merger with Heritage Bancorp, Inc. As of December 31, 2024, we had, on a consolidated basis, total assets of $4.94 billion, total loans of $3.97 billion, total deposits of $4.31 billion and total shareholders' equity of $460.7 million.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 199M | 171M | 148M | 124M | 95M | 71M |
| Net Income | 62M | 43M | 29M | 17M | 11M | 12M |
| EPS | $3.56 | $2.78 | $1.98 | $1.25 | $1.40 | $1.91 |
| Free Cash Flow | 0 | 33M | 36M | 9.6M | -1.0M | -5.0M |
| ROIC | 0.0% | 7.5% | 60.4% | 35.5% | 6.5% | 19.1% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.00 | 0.18 | 0.20 | 0.21 | 7.36 | 0.17 |
| Dividends/Share | $0.34 | $0.31 | $0.33 | $0.02 | - | - |
| Operating Income | 0 | 216M | 152M | 59M | 25M | 30M |
| Operating Margin | 0.0% | 126.2% | 102.8% | 47.9% | 25.7% | 42.5% |
| ROE | 1.2% | 1.8% | 7.0% | 4.5% | 3.8% | 10.0% |
| Shares Outstanding | 14M | 15M | 14M | 14M | 8M | 6M |
| Metric | 2020 | 2021 | 2022 | |||
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 71M | 95M | 124M | 148M | 171M | 199M |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT | 30M | 25M | 59M | 152M | 216M | 0 |
| Op. Margin | 42.5% | 25.7% | 47.9% | 102.8% | 126.2% | 0.0% |
| Net Income | 12M | 11M | 17M | 29M | 43M | 62M |
| Net Margin | 17.2% | 12.0% | 13.9% | 19.4% | 25.0% | 31.3% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | ||||||
| ROIC | 19.1% | 6.5% | 35.5% | 60.4% | 7.5% | 0.0% |
| ROE | 10.0% | 3.8% | 4.5% | 7.0% | 1.8% | 1.2% |
| ROA | 0.6% | 0.5% | 0.5% | 0.7% | 0.9% | 2216.4% |
| Cash Flow | ||||||
| Op. Cash Flow | -3.7M | 4.6M | 22M | 39M | 35M | 41M |
| Free Cash Flow | -5.0M | -1.0M | 9.6M | 36M | 33M | 0 |
| Owner Earnings | -4.0M | 4.2M | 21M | 34M | 29M | 35M |
| CapEx | 1.4M | 5.6M | 12M | 3.4M | 1.8M | 0 |
| Maint. CapEx | 78K | -270K | -479K | 3.9M | 4.6M | 4.6M |
| Growth CapEx | 1.3M | 5.9M | 13M | 0 | 0 | 0 |
| D&A | 78K | -270K | -479K | 3.9M | 4.6M | 4.6M |
| CapEx/OCF | N/A | 122.6% | 55.9% | 8.8% | 5.0% | 0.0% |
| Capital Allocation | ||||||
| Dividends Paid | 0 | 0 | 221K | 4.7M | 4.7M | 4.7M |
| Dividend Yield | N/A | N/A | 0.1% | 1.9% | 1.3% | 0.8% |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 275K | 659K | 1.3M | 1.6M | 1.7M | 1.7M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | ||||||
| Net Debt | -180M | N/A | -250M | -216M | -290M | -116M |
| Cash & Equiv. | N/A | N/A | N/A | N/A | N/A | 116M |
| Long-Term Debt | 21M | N/A | 80M | 81M | 81M | 81M |
| Debt/Equity | 0.17 | 7.36 | 0.21 | 0.20 | 0.18 | 0.00 |
| Interest Coverage | 2.1 | 2.4 | 1.6 | 1.3 | 1.4 | 1.4 |
| Equity | 122M | 299M | 382M | 412M | 461M | 5.1B |
| Total Assets | 1.9B | 2.5B | 3.8B | 4.4B | 4.9B | 2.8M |
| Total Liabilities | 1.7B | 2.2B | 3.4B | 4.0B | 4.5B | 450M |
| Intangibles | 19M | 19M | 19M | 19M | 19M | 19M |
| Retained Earnings | 25M | 36M | 53M | 79M | 122M | 122M |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | ||||||
| EPS | 1.91 | 1.40 | 1.25 | 1.98 | 2.78 | 3.56 |
| Owner EPS | -0.63 | 0.51 | 1.52 | 2.31 | 1.87 | 2.53 |
| Book Value | 19.19 | 36.64 | 27.68 | 28.46 | 29.84 | 364.31 |
| Cash Flow/Share | -0.58 | 0.56 | 1.58 | 2.70 | 2.28 | 4.80 |
| Dividends/Share | N/A | N/A | 0.02 | 0.33 | 0.31 | 0.34 |
| Shares Out. | 6.3M | 8.2M | 13.8M | 14.5M | 15.4M | 13.9M |
| Valuation | ||||||
| P/E Ratio | N/A | 18.9 | 15.1 | 10.3 | 12.3 | 11.7 |
| P/FCF | N/A | N/A | 27.1 | 8.3 | 15.8 | N/A |
| EV/EBIT | N/A | N/A | 0.2 | 0.5 | 1.1 | N/A |
| Price/Book | N/A | 0.7 | 0.7 | 0.7 | 1.1 | 0.1 |
| Price/Sales | N/A | 2.3 | 2.4 | 1.7 | 2.2 | 2.9 |
| FCF Yield | N/A | -0.5% | 3.7% | 12.1% | 6.3% | N/A |
| Market Cap | N/A | 216M | 260M | 294M | 527M | 577M |
| Avg. Price | N/A | 26.92 | 21.37 | 17.38 | 23.95 | 41.56 |
| Year-End Price | N/A | 26.48 | 18.88 | 20.32 | 34.13 | 41.56 |
Third Coast Bancshares, Inc. passes 4 of 9 quality checks, suggesting mixed fundamentals.
Third Coast Bancshares, Inc. trades at 14.9x trailing earnings, compared to its 15-year median P/E of 13.7x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 19.2x vs a median of 15.8x. The company's 5-year average ROIC is 25.8%. Total shareholder yield (dividends) is 0.8%. At current prices, the estimated annualized return to fair value is +56.2%.
Third Coast Bancshares, Inc. (TCBX) has a current P/E ratio of 14.9, compared to its historical median P/E of 13.7. The stock is currently considered Fair based on its historical valuation range.
Third Coast Bancshares, Inc. (TCBX) has a 5-year average return on invested capital (ROIC) of 25.8%. This indicates strong capital allocation and a potential competitive advantage.
Third Coast Bancshares, Inc. (TCBX) has a market capitalization of $577M. It is classified as a small-cap stock.
Yes, Third Coast Bancshares, Inc. (TCBX) pays a dividend with a trailing twelve-month yield of 0.82%.
Based on historical P/E analysis, Third Coast Bancshares, Inc. (TCBX) appears fair. The current P/E of 14.9 is 9% above its historical median of 13.7. The estimated fair value CAGR (P/E method) is 12.4%.
Third Coast Bancshares, Inc. (TCBX) operates in the Savings Institutions, Not Federally Chartered industry, within the Financials sector.
Third Coast Bancshares, Inc. (TCBX) reported annual revenue of $171 million in its most recent fiscal year, based on SEC EDGAR filings.
Third Coast Bancshares, Inc. (TCBX) has a net profit margin of 25.0%. This is a strong margin indicating high profitability.
Third Coast Bancshares, Inc. (TCBX) generated $33 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Third Coast Bancshares, Inc. (TCBX) has a debt-to-equity ratio of 0.18. This indicates a conservatively financed balance sheet.
Third Coast Bancshares, Inc. (TCBX) reported earnings per share (EPS) of $2.78 in its most recent fiscal year.
Third Coast Bancshares, Inc. (TCBX) has a return on equity (ROE) of 1.8%. This indicates moderate shareholder returns.
The Ledger Terminal provides 5 years of financial data for Third Coast Bancshares, Inc. (TCBX), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Third Coast Bancshares, Inc. (TCBX) has a book value per share of $29.84, based on its most recent annual SEC filing.