Third Coast Bank

how's everyone doing today welcome back to another episode of the banker next door i'm your host dr joe berkowitz so i've got another bank news episode here for everyone today and unfortunately i messed up a little bit last week because i did not get the typical bank news episode in last week so i kind of have double the information here so i literally have like 31 articles to blow through here with everyone here today so hopefully give me uh you know about 20 minutes here we're going to try to roll through these and we're going to see how quickly we can get through all this so i want to start off with some m a and some uh bank charter news we're going to kick off with that so Third Coast Bank Shares to acquire Great Plains Bank Shares for basically a $240 million deal.

So Humboldt, Texas-based Third Coast Bank Shares, the parent company of Third Coast Bank, agreed to acquire Elk City, Oklahoma-based Great Plains Bank Shares, Inc., the parent company of Great Plains National Bank, in an all-stock transaction valued at approximately $240 million.

Under the deal terms, Third Coast expects to issue 5.57 million shares of common stock to Great Plains shareholders.

Third Coast shareholders would own approximately 78% of the combined company, while Great Plains shareholders would hold the remaining 22%, according to the October 7th press release.

Per the merger agreement, Thunder Merger Sub A wholly owned Third Coast subsidiary will merge with Great Plains, with Great Plains shareholders receiving Third Coast common shares in exchange for their holdings.

Great Plains will then merge into Third Coast.

while Great Plains National Bank will combine with Third Coast Bank.

So we'll keep an eye on that and see what happens there.

The charges against Diez are allegations, and he is presumed innocent unless proven guilty.

Third Coast Bankshares, the Texas-based parent company of Third Coast Bank, has announced plans to acquire Great Plains National Bank in a stock-based merger.

The agreement would expand Third Coast operations into Oklahoma while allowing Great Plains to continue operating under the name Great Plains Bank as a division of Third Coast Bank.

Great Plains currently operates 23 branches, including locations in Elk City, Sayre, Weatherford, Cordell, Hobart, Taloga, Mangum, Hollis, and Woodward.