Core Insights - Stonegate Capital Partners has initiated coverage on Third Coast Bancshares, Inc. (NASDAQ: TCBX) [1] Financial Performance - Third Coast Bancshares reported a net income of $10.4 million for the quarter [2] - The company experienced year-over-year loan growth of $530.6 million [2] Expansion - Third Coast Bancshares has opened its 17th branch [2]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to _____________ Commission File Number: 001-41028 THIRD COAST BANCSHARES, INC. FORM 10-Q (Mark One) WASHINGTON, DC 20549 (Exact name of registrant as specified in its charter) | Texas | 46 ...

Financial Data and Key Metrics Changes - The company reported a first-quarter net income of $10.4 million, resulting in an 11% return on equity and record diluted earnings per share of $0.61 [22] - Net interest income increased by 12.5% on an annualized basis, primarily due to better yields on investments and higher average loans [22] - Noninterest expenses decreased by 1.9% or $500,000 due to cost-cutting initiatives [22] Business Line Data and Key Metrics Changes - Loan growth for the quarter was $107 million, while deposit growth was significantly stronger at $248 million, leading to a loan-to-deposit ratio of 92.5% [23] - Investment securities increased by $68.2 million, with the current yield on the portfolio rising to 6.15% from 5.36% in the previous quarter [22] Market Data and Key Metrics Changes - The company experienced a seasonal decline in loans of $30 million and deposits of $175 million as of the current date [23] - Nonperforming assets increased by $4.4 million, representing 0.47% of total assets, attributed to increases in nonaccruals and loans over 90 days past due [26] Company Strategy and Development Direction - The company is focused on diversifying its deposit portfolio, reducing the cost of funds, managing expenses, and enhancing operational efficiencies [1] - A new initiative to boost overall efficiencies has been introduced, encouraging employees to suggest improvements [19] - The management emphasizes the importance of operational leverage and aims to achieve a more efficient operational model [21][68] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in overcoming challenges and capitalizing on opportunities through adaptability and strategic planning [3] - The company expects net interest income growth to exceed 10% for the year, with loan growth projected between $300 million to $400 million [2][9] - Management acknowledged the uncertainty in loan growth due to seasonality and lumpiness in the portfolio [8][9] Other Important Information - The company sold a 5-year pay fixed swap on April 10, realizing a gain of $5.25 million, which will contribute approximately $275,000 to income per quarter [24] - The company has seen a strong performance in deposit acquisition across various business segments, particularly in commercial and specialty groups [20] Q&A Session Summary Question: What drove the increase in net interest margin (NIM)? - Management noted that the NIM declined just 1 basis point, with cost controls on interest-bearing deposits contributing positively, while loan yields remained flat [4][5] Question: Can you confirm the net interest income guidance for the full year? - Management confirmed the guidance of over 10% growth, adjusting from a previous range of 10% to 15% due to uncertainties in loan growth timing [8][9] Question: What are the expectations for deposit growth strategies? - Management indicated that every line of business is tasked with developing plans to grow deposits, which has been successful over the past year [13] Question: How does the company plan to manage expenses moving forward? - Management expressed confidence in maintaining expenses under 5% growth, focusing on efficiency and cost-cutting measures [40][41] Question: What are the trends in the criticized or classified loan bucket? - Management reported a few downgrades in the quarter, but these loans remain performing and are not classified as nonperforming [57]

Financial Performance - Net income for Q1 2024 was $10.4 million, or $0.68 and $0.61 per basic and diluted share, respectively, compared to $9.7 million, or $0.62 and $0.57 per share in Q4 2023[4] - Net income for the first quarter of 2024 was $10,367 thousand, up from $9,689 thousand in the previous quarter, marking a growth of 6.98%[26] - Net income available to common shareholders was $9,196,000 for the three months ended September 2024, an increase of 8.3% from $8,492,000 in June 2024[40] - Return on average common equity improved to 10.44% in Q1 2024, compared to 9.86% in Q4 2023[28] - Return on average common equity improved to 10.44% in September 2024, up from 9.86% in June 2024[40] Asset Growth - Total assets reached a record $4.66 billion, an increase of $264.3 million or 6.0% from $4.40 billion as of December 31, 2023[4] - Total assets increased to $4,660,403 thousand as of March 31, 2024, up from $4,396,074 thousand at December 31, 2023, representing a growth of 5.98%[24] - Total assets grew to $4,660,403,000 in September 2024, compared to $4,396,074,000 in June 2024, indicating an increase of 6.0%[40] Loan and Deposit Growth - Gross loans grew by $107.4 million to $3.75 billion, representing a 3.0% increase from $3.64 billion as of December 31, 2023[4] - Deposits increased by $247.5 million to $4.05 billion, a 6.5% rise from $3.80 billion as of December 31, 2023[4] - Total deposits rose to $4,050,672 thousand as of March 31, 2024, compared to $3,803,148 thousand at December 31, 2023, an increase of 6.50%[24] - Loans held for investment reached $3,746,178 thousand as of March 31, 2024, up from $3,638,788 thousand at December 31, 2023, indicating a growth of 2.97%[24] - Commercial and industrial loans increased to $1,350,289 thousand, up from $1,263,077 thousand, marking a growth of 6.9%[36] - Residential loans rose to $345,890 thousand, compared to $342,589 thousand in the previous quarter, reflecting a growth of 1.1%[36] Income and Expense Metrics - Noninterest income totaled $2.3 million, up from $2.2 million in Q4 2023 and $1.9 million in Q1 2023[9] - Noninterest income totaled $2,343 thousand for the first quarter of 2024, compared to $2,157 thousand in the previous quarter, an increase of 8.63%[26] - Noninterest expense decreased to $25.9 million from $26.4 million in Q4 2023, but increased from $22.0 million in Q1 2023[10] - The efficiency ratio improved to 64.11% from 66.89% in Q4 2023[11] - Efficiency ratio improved to 64.11% in Q1 2024, down from 66.89% in Q4 2023[28] Credit Quality - The provision for credit loss was $1.6 million, with an allowance for credit losses of $38.1 million, representing 1.02% of gross loans[14] - Provision for credit losses was $1,560 thousand for the first quarter of 2024, compared to $1,100 thousand in the previous quarter, reflecting an increase of 41.82%[26] - Nonperforming loans increased to $21,744 thousand, up from $17,319 thousand in the previous quarter, indicating a rise of 25.5%[36] - Nonperforming assets to total assets ratio rose to 0.47% from 0.39% in the previous quarter, reflecting a deterioration in asset quality[36] - QTD net charge-offs were $742 thousand, a decrease from $1,505 thousand in the previous quarter, showing an improvement in credit quality[36] - The allowance for credit losses to total loans ratio remained stable at 1.02% compared to the previous quarter[36] Capital and Equity - Common equity tier 1 capital ratio was 12.32% as of March 31, 2024, consistent with 12.52% in Q4 2023[32] - Total capital to risk-weighted assets ratio was 12.41% as of March 31, 2024, down from 12.66% in Q4 2023[28] - Total liabilities increased to $4,236,785 thousand as of March 31, 2024, from $3,984,100 thousand at December 31, 2023, reflecting a growth of 6.32%[24] - Retained earnings grew to $87,971 thousand as of March 31, 2024, compared to $78,775 thousand at December 31, 2023, an increase of 11.43%[24] - Total shareholders' equity increased to $423,618,000 in September 2024 from $411,974,000 in June 2024, representing a growth of 2.9%[40] - Tangible common equity rose to $338,430,000 in September 2024, up from $326,746,000 in June 2024, marking an increase of 3.1%[40] - Average tangible common equity increased to $335,434,000 in September 2024 from $322,720,000 in June 2024, a rise of 3.5%[40] Market Expansion - The company opened its 17th location in April 2024 in Austin, Texas, as part of its market expansion strategy[4] Non-GAAP Measures - The company emphasizes the importance of non-GAAP financial measures for investors to understand the financial condition, particularly tangible common equity and tangible book value per share[39] - Tangible common equity measures are being utilized for internal planning, with a focus on tangible book value per share and return on average tangible common equity[39]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-41028 THIRD COAST BANCSHARES, INC. (Exact name of registrant as specified in its charter) | Texas | 46-2135597 | | --- | --- | | (Sta ...

Third Coast Bancshares, Inc. (NASDAQ:TCBX) Q4 2023 Earnings Conference Call January 25, 2024 11:00 AM ET Company Participants Natalie Hairston - SVP, Dennard Lascar, IR Bart Caraway - President and CEO John McWhorter - CFO Audrey Duncan - Chief Credit Officer Conference Call Participants Brady Gailey - KBW Bernard Gizycki - Deutsche Bank Graham Dick - Piper Sandler Jim Mitchell - Raymond James Matt Olney - Stephens Inc. Operator Greetings, and welcome to Third Coast Banc Fourth Quarter and Full Year 2023 Ea ...

```python import urllib.parse def get_display_title(full_title): """ Generates a concise display title for the page-jump link, following the pattern observed in the example output. """ if full_title.startswith("Item "): Remove "Item X." or "Item XA." prefix for display title parts = full_title.split(". ", 1) if len(parts) > 1: return parts[1] return full_title Fallback if split fails elif full_title.startswith("PART "): return full_title Keep "PART I", "PART II" as is for display return full_title Default for other titles (like "Consolidated Balance Sheets") def generate_outline(data): """ Recursively generates a professionally structured report outline in Markdown format. """ markdown_output = [] for item in data: heading_prefix = "" * item["level"] Determine the starting page for the link current_start_page = item.get("start_page") if current_start_page is None and item.get("children"): If the current item doesn't have a start_page, use the start_page of its first child def find_first_start_page(children_list): for child in children_list: if child.get("start_page") is not None: return child["start_page"] if child.get("children"): found_page = find_first_start_page(child["children"]) if found_page is not None: return found_page return None current_start_page = find_first_start_page(item["children"]) Generate summary text summary_text = item.get("summary") if summary_text: Remove trailing period if present, as per requirement if summary_text.endswith('.'): summary_text = summary_text[:-1] else: Generate concise summaries for specific null cases if item["title"] == "PART I. FINANCIAL INFORMATION": summary_text = "This section covers unaudited financial statements, management's analysis, market risk, and internal controls" elif item["title"] == "Consolidated Balance Sheets": summary_text = "This section presents the company's financial position, detailing assets, liabilities, and shareholders' equity at specific dates" elif item["title"] == "Consolidated Statements of Income": summary_text = "This section details the company's revenues, expenses, and net income over specific periods" elif item["title"] == "Consolidated Statements of Cash Flows": summary_text = "This section outlines the company's cash inflows and outflows from operating, investing, and financing activities" elif item["title"] == "Item 3. Defaults Upon Senior Securities": summary_text = "This section confirms no defaults occurred on senior securities during the reporting period" elif item["title"] == "Item 4. Mine Safety Disclosures": summary_text = "This section is not applicable to the company's operations" elif item["title"] == "Item 5. Other Information": summary_text = "This section reports on director and officer trading arrangements during the quarter" elif item["title"] == "Item 6. Exhibits": summary_text = "This section lists all exhibits filed with the Form 10-Q, including key corporate documents and certifications" elif item["title"] == "PART II. OTHER INFORMATION": summary_text = "This section covers legal proceedings, risk factors, equity sales, and other miscellaneous disclosures" else: summary_text = "A concise summary for this section" Fallback, should ideally not be hit URL encode item_id for the page-jump link encoded_item_id = urllib.parse.quote(item["item_id"]) Construct the heading with page-jump link if current_start_page is not None: display_title = get_display_title(item['title']) markdown_output.append(f"{heading_prefix} [{display_title}](index={current_start_page}&type=section&id={encoded_item_id})") else: markdown_output.append(f"{heading_prefix} {item['title']}") if summary_text: markdown_output.append(summary_text) Process key_points if item.get("key_points"): for kp in item["key_points"]: if kp["type"] == "insight": content = kp["content"] Remove trailing period if present if content.endswith('.'): content = content[:-1] Apply bold formatting for key metrics and conclusions content = content.replace("16 branches", "**16 branches**") content = content.replace("$4.0 million", "**$4.0 million**") content = content.replace("$3.2 million", "**$3.2 million**") content = content.replace("'well capitalized'", "**'well capitalized'**") content = content.replace("$5.6 billion", "**$5.6 billion**") content = content.replace("7.26%", "**7.26%**") content = content.replace("5.10%", "**5.10%**") content = content.replace("0.88%", "**0.88%**") content = content.replace("3.91%", "**3.91%**") content = content.replace("$7.7 million", "**$7.7 million**") content = content.replace("11.7%", "**11.7%**") content = content.replace("$452.4 million", "**$452.4 million**") content = content.replace("14.6%", "**14.6%**") content = content.replace("$3.56 billion", "**$3.56 billion**") content = content.replace("$16.4 million", "**$16.4 million**") content = content.replace("0.39%", "**0.39%**") content = content.replace("$12.3 million", "**$12.3 million**") content = content.replace("0.32%", "**0.32%**") content = content.replace("$410.7 million", "**$410.7 million**") content = content.replace("12.7%", "**12.7%**") content = content.replace("$3.65 billion", "**$3.65 billion**") content = content.replace("$38.1 million", "**$38.1 million**") content = content.replace("1.07%", "**1.07%**") content = content.replace("$30.4 million", "**$30.4 million**") content = content.replace("0.98%", "**0.98%**") content = content.replace("$3.4 million", "**$3.4 million**") content = content.replace("$369.2 million", "**$369.2 million**") content = content.replace("$1.2 billion", "**$1.2 billion**") content = content.replace("$33.0 million", "**$33.0 million**") content = content.replace("$18.6 million", "**$18.6 million**") content = content.replace("4.9%", "**4.9%**") content = content.replace("$400.3 million", "**$400.3 million**") content = content.replace("$23.7 million", "**$23.7 million**") content = content.replace("$3.5 million", "**$3.5 million**") content = content.replace("32.5%", "**32.5%**") references = "".join([f"[{cn}](index={cn}&type=chunk)" for cn in sorted(kp["chunk_num"])]) markdown_output.append(f"- {content}{references}") elif kp["type"] == "table": markdown_output.append(f" {kp['title']}") Table title as subheading markdown_output.append(kp["content"]) Raw markdown table content Recursively process children if item.get("children"): markdown_output.extend(generate_outline(item["children"])) return markdown_output The provided outline content outline_content = [{"level": 1, "title": "PART I. FINANCIAL INFORMATION", "item_id": "PART I. FINANCIAL INFORMATION", "summary": None, "children": [{"level": 2, "title": "Item 1. Financial Statements (unaudited)", "item_id": "Item 1. Financial Statements (unaudited)", "summary": "This section presents the unaudited consolidated financial statements for Third Coast Bancshares, Inc. as of September 30, 2023, and for the three and nine-month periods then ended. It includes the Consolidated Balance Sheets, Statements of Income, Comprehensive Income, Changes in Shareholders' Equity, Cash Flows, and the accompanying notes which provide detailed explanations of accounting policies and financial items.", "children": [{"level": 3, "title": "Consolidated Balance Sheets", "item_id": "Consolidated Balance Sheets", "summary": None, "children": [], "end_page": 5, "key_points": [{"type": "table", "title": "Consolidated Balance Sheet Highlights (unaudited)", "content": "| (In thousands) | Sep 30, 2023 | Dec 31, 2022 |\n| :--- | :--- | :--- |\n| **Total Assets** | **$4,215,792** | **$3,773,148** |\n| Cash and cash equivalents | $286,530 | $332,014 |\n| Loans, net | $3,521,886 | $3,077,200 |\n| Investment securities available-for-sale | $201,035 | $176,067 |\n| **Total Liabilities** | **$3,815,461** | **$3,391,368** |\n| Total deposits | $3,646,822 | $3,236,146 |\n| **Total Shareholders' Equity** | **$400,331** | **$381,780** |", "chunk_num": [14]}], "start_page": 5}, {"level": 3, "title": "Consolidated Statements of Income", "item_id": "Consolidated Statements of Income", "summary": None, "children": [], "end_page": 6, "key_points": [{"type": "table", "title": "Consolidated Statements of Income Highlights (unaudited)", "content": "| (In thousands, except per share data) | Three Months Ended Sep 30, 2023 | Three Months Ended Sep 30, 2022 | Nine Months Ended Sep 30, 2023 | Nine Months Ended Sep 30, 2022 |\n| :--- | :--- | :--- | :--- | :--- |\n| Net interest income | $35,268 | $31,355 | $102,194 | $84,303 |\n| Provision for credit losses | $2,620 | $2,900 | $5,220 | $10,250 |\n| Noninterest income | $1,866 | $2,538 | $6,048 | $5,470 |\n| Noninterest expense | $27,505 | $22,728 | $73,384 | $65,682 |\n| **Net income** | **$5,578** | **$6,770** | **$23,712** | **$11,134** |\n| Net income available to common shareholders | $4,394 | $6,770 | $20,173 | $11,134 |\n| **Diluted earnings per share** | **$0.32** | **$0.49** | **$1.41** | **$0.81** |", "chunk_num": [16]}], "start_page": 6}, {"level": 3, "title": "Consolidated Statements of Cash Flows", "item_id": "Consolidated Statements of Cash Flows", "summary": None, "children": [], "end_page": 12, "key_points": [{"type": "table", "title": "Consolidated Cash Flow Highlights (unaudited)", "content": "| (In thousands) | Nine Months Ended Sep 30, 2023 | Nine Months Ended Sep 30, 2022 |\n| :--- | :--- | :--- |\n| Net cash provided by operating activities | $21,544 | $15,614 |\n| Net cash used in investing activities | ($479,187) | ($1,095,956) |\n| Net cash provided by financing activities | $412,159 | $971,165 |\n| **Change in cash and cash equivalents** | **($45,484)** | **($109,177)** |", "chunk_num": [26]}], "start_page": 10}, {"level": 3, "title": "Notes to Unaudited Consolidated Financial Statements", "item_id": "Notes to Unaudited Consolidated Financial Statements", "summary": "The notes detail the company's accounting policies, including the significant adoption of the Current Expected Credit Loss (CECL) model (ASC 326) on January 1, 2023, which resulted in a $4.0 million increase to the allowance for credit losses. The notes also provide breakdowns of the loan portfolio, investment securities, deposits, borrowings, derivatives, and regulatory capital, confirming the bank remains 'well capitalized'.", "children": [], "end_page": 46, "key_points": [{"type": "insight", "content": "The company provides commercial and consumer banking services through 16 branches in Texas markets including Greater Houston, Dallas-Fort Worth, and Austin-San Antonio.", "chunk_num": [31]}, {"type": "insight", "content": "On January 1, 2023, the Company adopted ASC 326 (CECL), recording a $4.0 million increase in the allowance for credit losses and a net after-tax adjustment to retained earnings of $3.2 million.", "chunk_num": [80]}, {"type": "table", "title": "Loan Portfolio Composition (in thousands)", "content": "| Loan Category | Sep 30, 2023 | Dec 31, 2022 |\n| :--- | :--- | :--- |\n| Commercial & industrial | $1,288,320 | $1,058,910 |\n| Construction, development & other | $655,822 | $567,851 |\n| Non-farm non-residential non-owner occupied | $566,973 | $506,012 |\n| Non-farm non-residential owner occupied | $517,917 | $493,791 |\n| Residential | $326,354 | $308,775 |\n| Municipal and other | $171,256 | $145,520 |\n| Farmland | $30,646 | $22,820 |\n| Consumer | $2,665 | $3,872 |\n| **Total Loans** | **$3,559,953** | **$3,107,551** |", "chunk_num": [94]}, {"type": "insight", "content": "As of September 30, 2023, the Bank and the Company met all regulatory capital adequacy requirements and were classified as 'well capitalized'.", "chunk_num": [227, 230, 232]}], "start_page": 13}], "end_page": 46, "key_points": [], "start_page": 5}, {"level": 2, "title": "Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations", "item_id": "Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations", "summary": "Management discusses the company's financial performance, highlighting a 113% increase in net income for the first nine months of 2023 compared to 2022, driven by strong loan growth and higher interest income, which offset rising deposit costs. The analysis covers significant growth in total assets to $4.22 billion, a 14.6% increase in the loan portfolio, and a 12.7% rise in deposits. The company maintains strong liquidity and capital ratios, remaining 'well capitalized'.", "children": [{"level": 3, "title": "Overview", "item_id": "Overview", "summary": "The company is a commercial-focused bank holding company operating through 16 branches in major Texas markets. As of September 30, 2023, it held $4.22 billion in total assets, $3.56 billion in total loans, and $3.65 billion in total deposits. On October 26, 2023, the bank received approval to convert from a Texas state savings bank to a state bank under the name Third Coast Bank.", "children": [], "end_page": 47, "key_points": [{"type": "insight", "content": "The company focuses on providing commercial banking solutions to small and medium-sized businesses and professionals in the Greater Houston, Dallas-Fort Worth, and Austin-San Antonio markets.", "chunk_num": [255]}, {"type": "insight", "content": "On October 26, 2023, the Bank received approval from the Federal Reserve Bank of Dallas to convert to a state bank named Third Coast Bank, pending final state approvals.", "chunk_num": [258]}], "start_page": 47}, {"level": 3, "title": "Results of Operations", "item_id": "Results of Operations", "summary": "For the nine months ended September 30, 2023, net income rose 113.0% to $23.7 million from $11.1 million in the prior year period. This was driven by an 84.3% increase in interest income due to loan growth and higher rates, which outpaced a 372.0% surge in interest expense. For Q3 2023, net income decreased 17.6% to $5.6 million from $6.8 million in Q3 2022, as the sharp rise in interest expense more than offset the growth in interest income for the quarter.", "children": [], "end_page": 55, "key_points": [{"type": "table", "title": "Results of Operations Summary (in thousands)", "content": "| | Nine Months Ended Sep 30, 2023 | Nine Months Ended Sep 30, 2022 | % Change |\n| :--- | :--- | :--- | :--- |\n| Net interest income | $102,194 | $84,303 | 21.2% |\n| Provision for credit losses | $5,220 | $10,250 | (49.1)% |\n| Noninterest income | $6,048 | $5,470 | 10.6% |\n| Noninterest expense | $73,384 | $65,682 | 11.7% |\n| **Net income** | **$23,712** | **$11,134** | **113.0%** |", "chunk_num": [260]}, {"type": "insight", "content": "The increase in net interest income for the first nine months of 2023 was primarily due to a $5.6 billion increase in average loans and a rise in loan yields to 7.26% from 5.10% YoY, offsetting a significant increase in the average rate paid on interest-bearing deposits from 0.88% to 3.91%.", "chunk_num": [262]}, {"type": "insight", "content": "Noninterest expense for the first nine months of 2023 increased by $7.7 million (11.7%) YoY, mainly due to higher salaries and benefits from increased headcount and severance costs, and increased occupancy expenses related to new branches.", "chunk_num": [281, 282, 283]}], "start_page": 48}, {"level": 3, "title": "Financial Condition", "item_id": "Financial Condition", "summary": "As of September 30, 2023, total assets grew to $4.22 billion, up from $3.77 billion at year-end 2022, driven by a 14.6% increase in total loans to $3.56 billion. This growth was funded by a 12.7% increase in total deposits to $3.65 billion. Nonperforming assets remained low at 0.39% of total assets. The allowance for credit losses increased to $38.1 million (1.07% of total loans), partly due to the adoption of CECL.", "children": [], "end_page": 64, "key_points": [{"type": "insight", "content": "Total loans increased by $452.4 million (14.6%) to $3.56 billion as of September 30, 2023, from December 31, 2022, with diversified growth in real estate and commercial loans.", "chunk_num": [294]}, {"type": "insight", "content": "Nonperforming assets increased to $16.4 million (0.39% of total assets) at September 30, 2023, from $12.3 million (0.32% of total assets) at December 31, 2022. The increase was primarily due to two loan relationships, which are reported as well-secured with minimal expected losses.", "chunk_num": [308]}, {"type": "insight", "content": "Total deposits increased by $410.7 million (12.7%) to $3.65 billion as of September 30, 2023, driven by growth in national wholesale deposits and expansion in primary market areas.", "chunk_num": [325]}, {"type": "insight", "content": "The allowance for credit losses (ACL) stood at $38.1 million, or 1.07% of total loans, as of September 30, 2023, up from $30.4 million (0.98%) at year-end 2022. The increase was primarily due to a $4.0 million adjustment from adopting ASC 326 (CECL) and a $3.4 million provision during the period.", "chunk_num": [315]}], "start_page": 55}, {"level": 3, "title": "Liquidity and Capital Resources", "item_id": "Liquidity and Capital Resources", "summary": "The company maintains a strong liquidity position, with primary funding from core deposits and access to significant borrowing capacity, including $369.2 million from the FHLB and $1.2 billion from the Federal Reserve's Discount Window as of September 30, 2023. Total shareholders' equity increased by $18.6 million to $400.3 million since year-end 2022. Both the company and the bank remain 'well capitalized' under all regulatory measures.", "children": [], "end_page": 66, "key_points": [{"type": "insight", "content": "As of September 30, 2023, the Company had significant available liquidity, including borrowing capacity of $369.2 million from FHLB, $1.2 billion from the Federal Reserve Discount Window, and $33.0 million in federal funds lines of credit.", "chunk_num": [336]}, {"type": "insight", "content": "Total shareholders' equity increased by $18.6 million (4.9%) to $400.3 million as of September 30, 2023, primarily due to net income of $23.7 million, offset by a $3.2 million CECL adoption adjustment and $3.5 million in preferred stock dividends.", "chunk_num": [341]}, {"type": "table", "title": "Regulatory Capital Ratios (Company)", "content": "| Ratio | Sep 30, 2023 | Minimum Requirement w/ Buffer |\n| :--- | :--- | :--- |\n| Tier 1 leverage capital | 9.79% | 4.00% |\n| Common equity tier 1 capital | 8.01% | 7.00% |\n| Tier 1 capital | 9.68% | 8.50% |\n| Total capital | 12.72% | 10.50% |", "chunk_num": [346]}], "start_page": 64}], "end_page": 69, "key_points": [], "start_page": 47}, {"level": 2, "title": "Item 3. Quantitative and Qualitative Disclosures About Market Risk", "item_id": "Item 3. Quantitative and Qualitative Disclosures About Market Risk", "summary": "The company's primary market risk is interest rate volatility, managed by the Asset Liability and Investment Committee. Simulation models are used to test the sensitivity of net interest income (NII) and fair value of equity to interest rate shocks. As of September 30, 2023, a 200 basis point increase in rates is projected to decrease NII by 0.65% and fair value of equity by 4.07% over 12 months, indicating a liability-sensitive position.", "children": [], "end_page": 68, "key_points": [{"type": "table", "title": "Interest Rate Sensitivity Analysis (Simulated Change over 12-month horizon)", "content": "| Change in Interest Rates (bps) | % Change in Net Interest Income (Sep 30, 2023) | % Change in Fair Value of Equity (Sep 30, 2023) |\n| :--- | :--- | :--- |\n| +300 | (1.01)% | (6.70)% |\n| +200 | (0.65)% | (4.07)% |\n| +100 | (0.30)% | (1.77)% |\n| -100 | 0.24% | 0.91% |", "chunk_num": [363]}], "start_page": 67}, {"level": 2, "title": "Item 4. Controls and Procedures", "item_id": "Item 4. Controls and Procedures", "summary": "Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were effective as of September 30, 2023. No material changes to internal control over financial reporting occurred during the third quarter of 2023.", "children": [], "end_page": 69, "key_points": [{"type": "insight", "content": "Based on an evaluation as of the end of the period, the Chief Executive Officer and Chief Financial Officer concluded that the Company's disclosure controls and procedures were effective.", "chunk_num": [376]}, {"type": "insight", "content": "There were no changes in the Company's internal control over financial reporting during the quarter ended September 30, 2023, that have materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting.", "chunk_num": [377]}], "start_page": 69}], "end_page": 69, "start_page": 5}, {"level": 1, "title": "PART II. OTHER INFORMATION", "item_id": "PART II. OTHER INFORMATION", "summary": None, "children": [{"level": 2, "title": "Item 1. Legal Proceedings", "item_id": "Item 1. Legal Proceedings", "summary": "The company is not currently subject to any material legal proceedings. It is involved in various claims and litigation arising in the ordinary course of business, but management believes the outcome of these will not have a material adverse effect on the company's financial condition.", "children": [], "end_page": 70, "key_points": [{"type": "insight", "content": "The Company is not currently subject to any material legal proceedings, and management believes that any liability from ordinary course litigation would not have a material adverse effect on the consolidated financial statements.", "chunk_num": [379, 380]}], "start_page": 70}, {"level": 2, "title": "Item 1A. Risk Factors", "item_id": "Item 1A. Risk Factors", "summary": "This section highlights new risk factors related to recent negative developments in the banking industry. Key risks include eroded customer confidence in regional banks following high-profile bank failures, which could impact liquidity and profitability. The company also anticipates increased regulatory scrutiny and potential new regulations for banks of its size, which could increase costs.", "children": [], "end_page": 70, "key_points": [{"type": "insight", "content": "Recent high-profile bank failures have eroded customer confidence in the banking system, which could negatively impact the Bank's liquidity, loan funding capacity, and results of operations as customers may move deposits to larger institutions.", "chunk_num": [382]}, {"type": "insight", "content": "The Company anticipates increased regulatory scrutiny and new regulations for banks of its size, which may increase costs and affect operations. The Bank's level of uninsured customer deposits was 32.5% at September 30, 2023.", "chunk_num": [383]}], "start_page": 70}, {"level": 2, "title": "Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities", "item_id": "Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities", "summary": "During the three months ended September 30, 2023, the company repurchased a total of 633 shares of its common stock. These purchases were made to satisfy tax withholding obligations related to the vesting of restricted stock awards and were not part of a publicly announced repurchase plan.", "children": [], "end_page": 70, "key_points": [{"type": "table", "title": "Issuer Purchases of Equity Securities (Q3 2023)", "content": "| Period | Total Shares Purchased | Average Price Paid Per Share |\n| :--- | :--- | :--- |\n| July 2023 | 0 | N/A |\n| August 2023 | 389 | $20.17 |\n| September 2023 | 244 | $19.15 |\n| **Total** | **633** | |", "chunk_num": [384]}], "start_page": 70}, {"level": 2, "title": "Item 3. Defaults Upon Senior Securities", "item_id": "Item 3. Defaults Upon Senior Securities", "summary": None, "children": [], "end_page": 71, "key_points": [{"type": "insight", "content": "None.", "chunk_num": [385]}], "start_page": 71}, {"level": 2, "title": "Item 4. Mine Safety Disclosures", "item_id": "Item 4. Mine Safety Disclosures", "summary": None, "children": [], "end_page": 71, "key_points": [{"type": "insight", "content": "Not applicable.", "chunk_num": [386]}], "start_page": 71}, {"level": 2, "title": "Item 5. Other Information", "item_id": "Item 5. Other Information", "summary": None, "children": [], "end_page": 71, "key_points": [{"type": "insight", "content": "No director or officer adopted or terminated a Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement during the third quarter of 2023.", "chunk_num": [387]}], "start_page": 71}, {"level": 2, "title": "Item 6. Exhibits", "item_id": "Item 6. Exhibits", "summary": None, "children": [], "end_page": 72, "key_points": [], "start_page": 72}], "end_page": 72, "start_page": 70}] Generate the Markdown output markdown_output = generate_outline(outline_content) print("\n".join(markdown_output)) ``` PART I. FINANCIAL INFORMATION](index=5&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) This section covers unaudited financial statements, management's analysis, market risk, and internal controls [Financial Statements (unaudited)](index=5&type=section&id=Item%201.%20Financial%20Statements%20(unaudited)) This section presents the unaudited consolidated financial statements for Third Coast Bancshares, Inc. as of September 30, 2023, and for the three and nine-month periods then ended It includes the Consolidated Balance Sheets, Statements of Income, Comprehensive Income, Changes in Shareholders' Equity, Cash Flows, and the accompanying notes which provide detailed explanations of accounting policies and financial items [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) This section presents the company's financial position, detailing assets, liabilities, and shareholders' equity at specific dates Consolidated Balance Sheet Highlights (unaudited) | (In thousands) | Sep 30, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | **Total Assets** | **$4,215,792** | **$3,773,148** | | Cash and cash equivalents | $286,530 | $332,014 | | Loans, net | $3,521,886 | $3,077,200 | | Investment securities available-for-sale | $201,035 | $176,067 | | **Total Liabilities** | **$3,815,461** | **$3,391,368** | | Total deposits | $3,646,822 | $3,236,146 | | **Total Shareholders' Equity** | **$400,331** | **$381,780** | [Consolidated Statements of Income](index=6&type=section&id=Consolidated%20Statements%20of%20Income) This section details the company's revenues, expenses, and net income over specific periods Consolidated Statements of Income Highlights (unaudited) | (In thousands, except per share data) | Three Months Ended Sep 30, 2023 | Three Months Ended Sep 30, 2022 | Nine Months Ended Sep 30, 2023 | Nine Months Ended Sep 30, 2022 | | :--- | :--- | :--- | :--- | :--- | | Net interest income | $35,268 | $31,355 | $102,194 | $84,303 | | Provision for credit losses | $2,620 | $2,900 | $5,220 | $10,250 | | Noninterest income | $1,866 | $2,538 | $6,048 | $5,470 | | Noninterest expense | $27,505 | $22,728 | $73,384 | $65,682 | | **Net income** | **$5,578** | **$6,770** | **$23,712** | **$11,134** | | Net income available to common shareholders | $4,394 | $6,770 | $20,173 | $11,134 | | **Diluted earnings per share** | **$0.32** | **$0.49** | **$1.41** | **$0.81** | [Consolidated Statements of Cash Flows](index=10&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) This section outlines the company's cash inflows and outflows from operating, investing, and financing activities Consolidated Cash Flow Highlights (unaudited) | (In thousands) | Nine Months Ended Sep 30, 2023 | Nine Months Ended Sep 30, 2022 | | :--- | :--- | :--- | | Net cash provided by operating activities | $21,544 | $15,614 | | Net cash used in investing activities | ($479,187) | ($1,095,956) | | Net cash provided by financing activities | $412,159 | $971,165 | | **Change in cash and cash equivalents** | **($45,484)** | **($109,177)** | [Notes to Unaudited Consolidated Financial Statements](index=13&type=section&id=Notes%20to%20Unaudited%20Consolidated%20Financial%20Statements) The notes detail the company's accounting policies, including the significant adoption of the Current Expected Credit Loss (CECL) model (ASC 326) on January 1, 2023, which resulted in a **$4.0 million** increase to the allowance for credit losses The notes also provide breakdowns of the loan portfolio, investment securities, deposits, borrowings, derivatives, and regulatory capital, confirming the bank remains 'well capitalized' - The company provides commercial and consumer banking services through **16 branches** in Texas markets including Greater Houston, Dallas-Fort Worth, and Austin-San Antonio[31](index=31&type=chunk) - On January 1, 2023, the Company adopted ASC 326 (CECL), recording a **$4.0 million** increase in the allowance for credit losses and a net after-tax adjustment to retained earnings of **$3.2 million**[80](index=80&type=chunk) Loan Portfolio Composition (in thousands) | Loan Category | Sep 30, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | Commercial & industrial | $1,288,320 | $1,058,910 | | Construction, development & other | $655,822 | $567,851 | | Non-farm non-residential non-owner occupied | $566,973 | $506,012 | | Non-farm non-residential owner occupied | $517,917 | $493,791 | | Residential | $326,354 | $308,775 | | Municipal and other | $171,256 | $145,520 | | Farmland | $30,646 | $22,820 | | Consumer | $2,665 | $3,872 | | **Total Loans** | **$3,559,953** | **$3,107,551** | - As of September 30, 2023, the Bank and the Company met all regulatory capital adequacy requirements and were classified as **'well capitalized'**[227](index=227&type=chunk)[230](index=230&type=chunk)[232](index=232&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=47&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial performance, highlighting a 113% increase in net income for the first nine months of 2023 compared to 2022, driven by strong loan growth and higher interest income, which offset rising deposit costs The analysis covers significant growth in total assets to $4.22 billion, a 14.6% increase in the loan portfolio, and a 12.7% rise in deposits The company maintains strong liquidity and capital ratios, remaining 'well capitalized' [Overview](index=47&type=section&id=Overview) The company is a commercial-focused bank holding company operating through 16 branches in major Texas markets As of September 30, 2023, it held $4.22 billion in total assets, $3.56 billion in total loans, and $3.65 billion in total deposits On October 26, 2023, the bank received approval to convert from a Texas state savings bank to a state bank under the name Third Coast Bank - The company focuses on providing commercial banking solutions to small and medium-sized businesses and professionals in the Greater Houston, Dallas-Fort Worth, and Austin-San Antonio markets[255](index=255&type=chunk) - On October 26, 2023, the Bank received approval from the Federal Reserve Bank of Dallas to convert to a state bank named Third Coast Bank, pending final state approvals[258](index=258&type=chunk) [Results of Operations](index=48&type=section&id=Results%20of%20Operations) For the nine months ended September 30, 2023, net income rose 113.0% to $23.7 million from $11.1 million in the prior year period This was driven by an 84.3% increase in interest income due to loan growth and higher rates, which outpaced a 372.0% surge in interest expense For Q3 2023, net income decreased 17.6% to $5.6 million from $6.8 million in Q3 2022, as the sharp rise in interest expense more than offset the growth in interest income for the quarter Results of Operations Summary (in thousands) | | Nine Months Ended Sep 30, 2023 | Nine Months Ended Sep 30, 2022 | % Change | | :--- | :--- | :--- | :--- | | Net interest income | $102,194 | $84,303 | 21.2% | | Provision for credit losses | $5,220 | $10,250 | (49.1)% | | Noninterest income | $6,048 | $5,470 | 10.6% | | Noninterest expense | $73,384 | $65,682 | 11.7% | | **Net income** | **$23,712** | **$11,134** | **113.0%** | - The increase in net interest income for the first nine months of 2023 was primarily due to a **$5.6 billion** increase in average loans and a rise in loan yields to **7.26%** from **5.10%** YoY, offsetting a significant increase in the average rate paid on interest-bearing deposits from **0.88%** to **3.91%**[262](index=262&type=chunk) - Noninterest expense for the first nine months of 2023 increased by **$7.7 million** (**11.7%**) YoY, mainly due to higher salaries and benefits from increased headcount and severance costs, and increased occupancy expenses related to new branches[281](index=281&type=chunk)[282](index=282&type=chunk)[283](index=283&type=chunk) [Financial Condition](index=55&type=section&id=Financial%20Condition) As of September 30, 2023, total assets grew to $4.22 billion, up from $3.77 billion at year-end 2022, driven by a 14.6% increase in total loans to $3.56 billion This growth was funded by a 12.7% increase in total deposits to $3.65 billion Nonperforming assets remained low at 0.39% of total assets The allowance for credit losses increased to $38.1 million (1.07% of total loans), partly due to the adoption of CECL - Total loans increased by **$452.4 million** (**14.6%**) to **$3.56 billion** as of September 30, 2023, from December 31, 2022, with diversified growth in real estate and commercial loans[294](index=294&type=chunk) - Nonperforming assets increased to **$16.4 million** (**0.39%** of total assets) at September 30, 2023, from **$12.3 million** (**0.32%** of total assets) at December 31, 2022 The increase was primarily due to two loan relationships, which are reported as well-secured with minimal expected losses[308](index=308&type=chunk) - Total deposits increased by **$410.7 million** (**12.7%**) to **$3.65 billion** as of September 30, 2023, driven by growth in national wholesale deposits and expansion in primary market areas[325](index=325&type=chunk) - The allowance for credit losses (ACL) stood at **$38.1 million**, or **1.07%** of total loans, as of September 30, 2023, up from **$30.4 million** (**0.98%**) at year-end 2022 The increase was primarily due to a **$4.0 million** adjustment from adopting ASC 326 (CECL) and a **$3.4 million** provision during the period[315](index=315&type=chunk) [Liquidity and Capital Resources](index=64&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains a strong liquidity position, with primary funding from core deposits and access to significant borrowing capacity, including $369.2 million from the FHLB and $1.2 billion from the Federal Reserve's Discount Window as of September 30, 2023 Total shareholders' equity increased by $18.6 million to $400.3 million since year-end 2022 Both the company and the bank remain 'well capitalized' under all regulatory measures - As of September 30, 2023, the Company had significant available liquidity, including borrowing capacity of **$369.2 million** from FHLB, **$1.2 billion** from the Federal Reserve Discount Window, and **$33.0 million** in federal funds lines of credit[336](index=336&type=chunk) - Total shareholders' equity increased by **$18.6 million** (**4.9%**) to **$400.3 million** as of September 30, 2023, primarily due to net income of **$23.7 million**, offset by a **$3.2 million** CECL adoption adjustment and **$3.5 million** in preferred stock dividends[341](index=341&type=chunk) Regulatory Capital Ratios (Company) | Ratio | Sep 30, 2023 | Minimum Requirement w/ Buffer | | :--- | :--- | :--- | | Tier 1 leverage capital | 9.79% | 4.00% | | Common equity tier 1 capital | 8.01% | 7.00% | | Tier 1 capital | 9.68% | 8.50% | | Total capital | 12.72% | 10.50% | [Quantitative and Qualitative Disclosures About Market Risk](index=67&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is interest rate volatility, managed by the Asset Liability and Investment Committee Simulation models are used to test the sensitivity of net interest income (NII) and fair value of equity to interest rate shocks As of September 30, 2023, a 200 basis point increase in rates is projected to decrease NII by 0.65% and fair value of equity by 4.07% over 12 months, indicating a liability-sensitive position Interest Rate Sensitivity Analysis (Simulated Change over 12-month horizon) | Change in Interest Rates (bps) | % Change in Net Interest Income (Sep 30, 2023) | % Change in Fair Value of Equity (Sep 30, 2023) | | :--- | :--- | :--- | | +300 | (1.01)% | (6.70)% | | +200 | (0.65)% | (4.07)% | | +100 | (0.30)% | (1.77)% | | -100 | 0.24% | 0.91% | [Controls and Procedures](index=69&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were effective as of September 30, 2023 No material changes to internal control over financial reporting occurred during the third quarter of 2023 - Based on an evaluation as of the end of the period, the Chief Executive Officer and Chief Financial Officer concluded that the Company's disclosure controls and procedures were effective[376](index=376&type=chunk) - There were no changes in the Company's internal control over financial reporting during the quarter ended September 30, 2023, that have materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting[377](index=377&type=chunk) PART II. OTHER INFORMATION](index=70&type=section&id=PART%20II.%20OTHER%20INFORMATION) This section covers legal proceedings, risk factors, equity sales, and other miscellaneous disclosures [Legal Proceedings](index=70&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently subject to any material legal proceedings It is involved in various claims and litigation arising in the ordinary course of business, but management believes the outcome of these will not have a material adverse effect on the company's financial condition - The Company is not currently subject to any material legal proceedings, and management believes that any liability from ordinary course litigation would not have a material adverse effect on the consolidated financial statements[379](index=379&type=chunk)[380](index=380&type=chunk) [Risk Factors](index=70&type=section&id=Item%201A.%20Risk%20Factors) This section highlights new risk factors related to recent negative developments in the banking industry Key risks include eroded customer confidence in regional banks following high-profile bank failures, which could impact liquidity and profitability The company also anticipates increased regulatory scrutiny and potential new regulations for banks of its size, which could increase costs - Recent high-profile bank failures have eroded customer confidence in the banking system, which could negatively impact the Bank's liquidity, loan funding capacity, and results of operations as customers may move deposits to larger institutions[382](index=382&type=chunk) - The Company anticipates increased regulatory scrutiny and new regulations for banks of its size, which may increase costs and affect operations The Bank's level of uninsured customer deposits was **32.5%** at September 30, 2023[383](index=383&type=chunk) [Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities](index=70&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%2C%20Use%20of%20Proceeds%2C%20and%20Issuer%20Purchases%20of%20Equity%20Securities) During the three months ended September 30, 2023, the company repurchased a total of 633 shares of its common stock These purchases were made to satisfy tax withholding obligations related to the vesting of restricted stock awards and were not part of a publicly announced repurchase plan Issuer Purchases of Equity Securities (Q3 2023) | Period | Total Shares Purchased | Average Price Paid Per Share | | :--- | :--- | :--- | | July 2023 | 0 | N/A | | August 2023 | 389 | $20.17 | | September 2023 | 244 | $19.15 | | **Total** | **633** | | [Defaults Upon Senior Securities](index=71&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) This section confirms no defaults occurred on senior securities during the reporting period - None[385](index=385&type=chunk) [Mine Safety Disclosures](index=71&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This section is not applicable to the company's operations - Not applicable[386](index=386&type=chunk) [Other Information](index=71&type=section&id=Item%205.%20Other%20Information) This section reports on director and officer trading arrangements during the quarter - No director or officer adopted or terminated a Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement during the third quarter of 2023[387](index=387&type=chunk) [Exhibits](index=72&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the Form 10-Q, including key corporate documents and certifications

Third Coast Bancshares, Inc. (NASDAQ:TCBX) Q3 2023 Earnings Conference Call October 26, 2023 11:00 AM ET Company Participants Natalie Hairston - Dennard Lascar, Investor Relations Bart Caraway - President and Chief Executive Officer John McWhorter - Chief Financial Officer Audrey Duncan - Chief Credit Officer Conference Call Participants Graham Dick - Piper Sandler Michael Rose - Raymond James Bernard Gizycki - Deutsche Bank Matt Olney - Stephens Inc Operator Greetings, and welcome to Third Coast Banc Third ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION For the transition period from ____________ to _____________ Commission File Number: 001-41028 THIRD COAST BANCSHARES, INC. WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Exact name of registrant as specified in its charter) Texas 46-2135 ...

Third Coast Bancshares (NASDAQ:TCBX) Q2 2023 Earnings Conference Call July 27, 2023 11:00 AM ET Company Participants Natalie Hairston - Investor Relations Bart Caraway - Chairman, President and Chief Executive Officer John McWhorter - Chief Financial Officer Audrey Duncan - Chief Credit Officer Conference Call Participants Graham Dick - Piper Sandler Bernard Von Gizycki - Deutsche Bank Jordan Ghent - Stephens Inc Michael Rose - Raymond James Operator Greetings, and welcome to the Third Coast Bancshares’ Sec ...