Third Coast Bancshares Sells Subsidiary for $27.5M

By Philip Seaworth • Monday, July 13 10:52 • Permanent Link

Third Coast Bancshares closed the sale of substantially all of the assets of its Third Coast Commercial Capital subsidiary to Gulf Coast Bank & Trust Company on June 25, 2026.

The transaction brought in about $27.5 million at closing and is expected to generate a $3.5 million gain. Third Coast also kept a structured ongoing revenue share tied to the deal.

After the sale, Third Coast said it will still provide factoring solutions, but now through a strategic partnership with Gulf Coast rather than through the sold subsidiary. The company said the move lets it monetize the existing portfolio while keeping access for clients who use factoring services.

The sale leaves Third Coast focused on its core businesses: commercial banking, asset-based lending and specialty lending. The company said those areas remain its main growth platforms. Following these announcements, the company's shares moved 0.5%, and are now trading at a price of $40.05. For the full picture, make sure to review Third Coast Bancshares's 8-K report.

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