HOUSTON, June 20, 2024 /PRNewswire/ — Third Coast Bancshares, Inc. (NASDAQ: TCBX), the holding company of Third Coast Bank, has announced that its Board of Directors has declared a quarterly cash dividend of $17.0625 per share on its 6.75% Series A Convertible Non-Cumulative Preferred Stock. This dividend is set to be paid out on July 15, 2024, to shareholders who are recorded as of the close of business on June 30, 2024.
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Founded in 2008 in Humble, Texas, Third Coast Bank is a well-established and commercially focused bank operating in Texas. Its holding company, Third Coast Bancshares, Inc., has a significant presence in the Greater Houston, Dallas-Fort Worth, and Austin-San Antonio markets. The bank conducts its operations through its wholly owned subsidiary, Third Coast Bank, and operates 18 branches in the largest metropolitan areas of Texas.
As a key player in the Texas banking sector, Third Coast Bank offers a robust portfolio of financial services, catering to the needs of both individual and corporate clients. The declaration of this quarterly cash dividend underscores the company’s commitment to providing consistent returns to its investors. This move is indicative of the bank’s strong financial performance and strategic growth within the competitive banking landscape of Texas.
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The 6.75% Series A Convertible Non-Cumulative Preferred Stock is a notable choice for investors, providing both yield and potential equity conversion advantages. A quarterly cash dividend like this not only returns value to the shareholders but also signifies the confidence that the management holds in the bank’s sustained profitability and sound operational practices.
For more detailed information about Third Coast Bancshares, Inc. and its portfolio of services, interested parties may visit their official website at https://www.thirdcoast.bank. The site provides a comprehensive overview of the bank’s services, locations, financial news, and corporate governance.
It’s important to note that this press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements are inherently subject to risks and uncertainties, which may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Factors that might cause such differences include changes in market conditions, regulatory environments, and other factors comprehensively detailed in the company’s filings with the Securities and Exchange Commission (SEC). For a full view of these statements, including their potential risks and uncertainties, you can read more on the original article available on Benzinga.com.
Third Coast Bancshares, Inc.’s latest dividend declaration reflects a proactive approach to shareholder value maximization. It showcases a balanced strategy that blends the bank’s profitability, steady revenue generation, and prudent risk management. Shareholders and potential investors can view this announcement as a positive indicator of the bank’s ongoing financial health and future growth potential within the industry.
In recent years, Third Coast Bank has been making strategic efforts to expand its market presence and enhance its service offerings. Through innovative banking solutions and a focus on customer-centric services, the bank has experienced considerable growth. Its resilience in navigating the complexities of the banking sector highlights its capability to adapt and thrive amidst varying economic conditions.
As the bank continues to grow, it remains committed to its foundational values of customer service excellence, community involvement, and financial stewardship. The quarterly cash dividend is a reflection of these values, demonstrating Third Coast Bancshares, Inc.’s alignment with shareholder interests and a dedication to maintaining robust financial performance across its operational spectrum.
Investors holding the 6.75% Series A Convertible Non-Cumulative Preferred Stock can expect to receive their dividend payments on the stipulated date, ensuring a reliable income stream. The nature of this preferred stock also allows for potential conversion into equity, providing a dual benefit to the holders in terms of both fixed returns and growth potential.
Overall, the dividend declaration by Third Coast Bancshares, Inc. is a testament to the company’s financial strength and prudent management decisions. It highlights the bank’s commitment to its shareholders and reinforces confidence in its strategic direction. Interested investors and stakeholders can keep abreast of further developments and detailed financial information by visiting the official Third Coast Bank website or monitoring their announcements on financial news platforms like Benzinga.
