Third Coast Bancshares, Inc. (TCBX) Financial Statements (2024 and earlier)

Company Profile

Business Address 20202 HIGHWAY 59 NORTH
HUMBLE, TX 77338
State of Incorp. TX
Fiscal Year End December 31
Industry (SIC) 6036 - Savings Institutions, Not Federally Chartered (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments329,864326,733
Cash and cash equivalents329,864326,733
Total current assets:329,864326,733
Noncurrent Assets
Operating lease, right-of-use asset17,872 
Property, plant and equipment28,66219,045
Intangible assets, net (including goodwill)19,16519,326
Goodwill18,03418,034
Intangible assets, net (excluding goodwill)1,1311,292
Deferred income tax assets6,3034,123
Total noncurrent assets:72,00242,494
Other undisclosed assets3,371,2822,130,185
TOTAL ASSETS:3,773,1482,499,412
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities3,391,3682,200,405
Total liabilities:3,391,3682,200,405
Equity
Equity, attributable to parent381,780299,007
Preferred stock69 
Common stock13,61013,482
Treasury stock, value(1,099)(1,099)
Additional paid in capital318,033249,202
Accumulated other comprehensive income (loss)(2,103)1,393
Retained earnings53,27036,029
Total equity:381,780299,007
TOTAL LIABILITIES AND EQUITY:3,773,1482,499,412

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
Revenues
(Net Investment Income)
153,946100,615
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
(12,200)(9,923)
Gross profit:141,74690,692
Operating expenses(10,934)(7,851)
Operating income:130,81282,841
Nonoperating income
(Bank Owned Life Insurance Income)
1,312 
Interest and debt expense(37,492)(10,062)
Income from continuing operations before equity method investments, income taxes:94,63272,779
Other undisclosed loss from continuing operations before income taxes(71,464)(58,296)
Income from continuing operations before income taxes:23,16814,483
Income tax expense(4,509)(3,059)
Income from continuing operations:18,65911,424
Income before gain (loss) on sale of properties:11,424
Net income attributable to parent:18,65911,424
Preferred stock dividends and other adjustments(1,418) 
Other undisclosed net loss available to common stockholders, basic  
Net income available to common stockholders, diluted:17,24111,424

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
Net income:18,65911,424
Other comprehensive income (loss)(3,496)1,114
Comprehensive income, net of tax, attributable to parent:15,16312,538

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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