Third Coast Bancshares agreed to buy Great Plains Bancshares in an all-stock deal valued at about $239.6 million, with the combined company expected to have roughly $9 billion in assets once the transaction closes.
Under the merger terms, Third Coast will issue 5,570,352 shares of common stock. After the deal, Third Coast shareholders are expected to own about 78% of the combined company, while Great Plains shareholders will own about 22%.
Great Plains brings a 23-branch franchise across Oklahoma and Texas, while Third Coast operates 20 branches in Texas. The merger would give Third Coast entry into Oklahoma and expand its Dallas presence.
The companies said the deal is expected to close in the first quarter of 2027. It has already been approved unanimously by both boards.
Great Plains will continue operating under the Great Plains brand as Great Plains Bank, a division of Third Coast Bank. Third Coast will keep trading under the ticker TCBX.
Two Great Plains representatives are set to join the boards of Third Coast and Third Coast Bank, and Great Plains CEO Mark Russell has agreed to remain in a leadership role after closing. Today the company's shares have moved 0.3% to a price of $43.02. For the full picture, make sure to review Third Coast Bancshares's 8-K report.
