Third Coast agrees to buy Great Plains in all-share transaction
Third Coast Bancshares signed a definitive agreement to acquire Great Plains Bancshares in an all-share deal valued at approximately $239.6 million. The combined bank is expected to hold approximately $9 billion in assets and gives Third Coast an entry into Oklahoma. Both boards approved the transaction, which is targeted for the first quarter of 2027 after regulatory and shareholder clearances.
Why it matters
Third Coast says the combination will broaden its Dallas operations and open the Oklahoma market. The transaction would also issue new Third Coast shares to Great Plains holders, leaving them with approximately 22% of the combined company.
Key facts
- 1Third Coast and Great Plains signed a definitive merger agreement on October 7, 2026. sec.gov
- 2Third Coast values the all-share acquisition at approximately $239.6 million, using its October 6, 2026 closing stock price. sec.gov
- 3Third Coast expects to issue 5,570,352 common shares in the transaction. sec.gov
- 4Third Coast shareholders are expected to own approximately 78% of the combined company, while Great Plains shareholders are expected to own approximately 22%. sec.gov
- 5The companies' boards unanimously approved the transaction. sec.gov
- 6Closing is expected in the first quarter of 2027, contingent on regulatory and shareholder approvals. sec.gov
Open questions
- Material 5 reports a $240M valuation, ~ $9B of assets, and 5.57M shares, while the primary filing gives approximately $239.6 million, approximately $9 billion, and 5,570,352 shares.
- Material 5 cites ~14% 2028 EPS accretion and $17.1M in cost savings, but those figures are not included in the primary filing provided.
- Material 6 says the deal expands Third Coast into North Dakota and Minnesota, which conflicts with the primary filing's stated Oklahoma expansion.
Summary written by AlphAI from 6 of 6 sources. Not investment advice. Figures are as stated by the linked sources.