Stonegate Updates Coverage on Third Coast Bancshares, Inc. (TCBX) Q4 2024

By: Newsfile

Dallas, Texas--(Newsfile Corp. - January 27, 2025) - Third Coast Bancshares, Inc. (NASDAQ: TCBX): Stonegate Capital Partners updates their coverage on Third Coast Bancshares, Inc. For 4Q24, Third Coast reported net income of $13.7M, up from $12.8M in 3Q24. This was equal to a basic and diluted EPS of $0.92 and $0.79, respectively. The Q/Q growth was primarily attributed to higher net interest income, driven by loan growth and increased investments in federal funds sold and interest-bearing deposits with correspondent banks. However, this increase was partially offset by a slightly higher provision for credit losses and rising expenses related to salaries and employee benefits. We anticipate that the Company will continue prioritizing operational efficiency by sustaining its 1% improvement initiative. This strategy is expected to support Third Coast in the current macroeconomic landscape.

To view the full announcement, including downloadable images, bios, and more, click here.

Key Takeaways:

  • Reported net income of $13.7M, up from $12.8M in 3Q24.
  • The Company's loan portfolio continues to show strong growth, with an increase of $327.6M year over year.
  • The efficiency ratio for the quarter was 58.80%, an improvement from59.57% last quarter.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/7294/238532_figure1_550.jpg

Click image above to view full announcement.


About Stonegate

Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking, equity research and capital raising for public and private companies.

Contacts:

Stonegate Capital Partners
(214) 987-4121
info@stonegateinc.com

Source: Stonegate, Inc.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238532

Recent Quotes

View More
Symbol Price Change (%)
AMZN  244.41
+1.37 (0.56%)
AAPL  268.47
-1.30 (-0.48%)
AMD  233.54
-4.16 (-1.75%)
BAC  53.20
-0.09 (-0.17%)
GOOG  279.70
-5.64 (-1.98%)
META  621.71
+2.77 (0.45%)
MSFT  496.82
-0.28 (-0.06%)
NVDA  188.15
+0.07 (0.04%)
ORCL  239.26
-4.54 (-1.86%)
TSLA  429.52
-16.39 (-3.68%)
Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the Privacy Policy and Terms Of Service.