Third Coast Bancshares closes sale of TCCC assets for $27.5M, records $3.5M gain

Third Coast Bancshares closed sale of Third Coast Commercial Capital assets for ~$27.5 million, recognizing a $3.5 million gain.Key Highlights:Original SEC Filing: Third Coast Bancshares, Inc. [ TCBX ] - 8-K - Jul. 13, 2026This is an AI-powered summary. It may contain inaccuracies. Consider verifyi…

Third Coast Bancshares closed sale of Third Coast Commercial Capital assets for ~$27.5 million, recognizing a $3.5 million gain.

Key Highlights:

Closed sale of substantially all assets of Third Coast Commercial Capital to Gulf Coast Bank & Trust, effective June 25, 2026.
Transaction provided approximately $27.5 million in total consideration at closing.
Company recorded a gain of $3.5 million on the transaction.
Includes a structured ongoing revenue share and a strategic partnership to continue offering factoring solutions.
Third Coast will refocus on core commercial banking, asset-based lending and specialty lending platforms for growth.

Original SEC Filing:

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.