Third Coast Bancshares - share repurchase program authorizes up to $30 mln through June 30, 2027

Third Coast Bancshares, Inc. (NASDAQ: TCBX) has authorized a $30 million share repurchase program, according to a press release. The program, which was approved by the company’s Board of Directors, is set to expire on May 22, 2026, though the writing topic references an expiration date of June 30, 2027. The company received non-objection from the Federal Reserve Bank of Dallas on June 16, 2025.

Under the repurchase program, Third Coast may acquire shares through open market transactions, privately negotiated deals, block trades, or other methods compliant with federal securities laws. The company emphasized that the program does not obligate it to repurchase any specific number of shares and may be modified, suspended, or terminated at any time by the Board of Directors.

The decision to repurchase shares is contingent on several factors, including the company’s capital position, liquidity, financial performance, market conditions, and regulatory requirements. Management will determine the timing, method, and price range for each repurchase.

Third Coast Bancshares operates primarily in Texas through its wholly owned subsidiary, Third Coast Bank, which has 19 branches across the Greater Houston, Dallas-Fort Worth, and Austin-San Antonio markets. The company reported first-quarter 2025 earnings that exceeded expectations, with EPS of $0.78 compared to a forecast of $0.71, although revenue fell slightly short of projections.

The repurchase program reflects the company’s ongoing strategy to optimize capital allocation and enhance shareholder value, while also managing risks and supporting long-term growth.