Third Coast Bancshares, Inc. Reports 2025 Third Quarter Financial Results

Record EPS of $1.22 and Diluted EPS of $1.03 in Latest Quarterly Results

Third Coast Bancshares, Inc. (NYSE & NYSE Texas: TCBX) (the “Company,” “Third Coast,” “we,” “us,” or “our”), the bank holding company for Third Coast Bank (the “Bank”), today reported its 2025 third quarter financial results.

Financial Highlights

— Return on average assets of 1.41% annualized for the third quarter of 2025 compared to 1.38% annualized for the second quarter of 2025 and 1.14% annualized for the third quarter of 2024.

— Net interest margin of 4.10% for the third quarter of 2025 compared to 4.22% for the second quarter of 2025 and 3.73% for the third quarter of 2024.

— Net income for the third quarter of 2025 totaled $18.1 million, or $1.22 and $1.03 per basic and diluted share, respectively, compared to $16.7 million, or $1.12 and $0.96 per basic and diluted share, respectively, for the second quarter of 2025 and $12.8 million, or $0.85 and $0.74 per basic and diluted share, respectively, for the third quarter of 2024.

— Efficiency ratio continues to improve from 55.45% for the second quarter of 2025 to 53.03% for the third quarter of 2025.

— Gross loans grew to $4.17 billion as of September 30, 2025, from $4.08 billion reported as of June 30, 2025.

— Book value per share and tangible book value per share(1) increased to $32.25 and $30.91, respectively, as of September 30, 2025, compared to $31.04 and $29.69, respectively, as of June 30, 2025 and $28.13 and $26.75, respectively, as of September 30, 2024.

— Transfer of listing of common stock to the New York Stock Exchange and NYSE Texas.

(1) Non-GAAP financial measure. Please refer to the table titled “GAAP Reconciliation and Management's Explanation of Non-GAAP Financial Measures” at the end of this news release for a reconciliation of these non-GAAP financial measures.

Bart Caraway, Founder, Chairman, President & CEO of Third Coast, said, “This was a defining quarter for TCBX, showcasing our team's relentless focus through the Company's outstanding achievements and financial performance. The recent transfer of our stock to both the New York Stock Exchange and NYSE Texas signifies a strategic transition designed to boost market visibility and offer shareholders increased liquidity. Our total assets, loans, and deposits grew steadily, a true testament to our relationship-banking strategy. By optimizing operating leverage, we not only increased interest and non-interest income but also maintained stable expenses. Our unwavering commitment to delivering exceptional value is highlighted by our record-breaking earnings per share and enhanced returns on average assets. The results of this quarter vibrantly demonstrate the long-standing commitment and passion of the entire TCBX team.”

Operating Results

Net Income and Earnings Per Share

Net income totaled $18.1 million for the third quarter of 2025, compared to $16.7 million for the second quarter of 2025 and $12.8 million for the third quarter of 2024. Net income available to common shareholders totaled $16.9 million for the third quarter of 2025, compared to $15.6 million for the second quarter of 2025 and $11.6 million for the third quarter of 2024. The quarter-over-quarter increase was primarily due to an increase in net interest income and an increase in non-margin loan fees, partially offset by an increase in provision for credit losses. Dividends on our Series A Convertible Non-Cumulative Preferred Stock (“Series A Preferred Stock”) totaled $1.2 million for each of the quarters ended September 30, 2025 and June 30, 2025.

Basic and diluted earnings per share were $1.22 per share and $1.03 per share, respectively, in the third quarter of 2025, compared to $1.12 per share and $0.96 per share, respectively, in the second quarter of 2025 and $0.85 per share and $0.74 per share, respectively, in the third quarter of 2024.

Net Interest Margin and Net Interest Income

The net interest margin for the third quarter of 2025 was 4.10%, compared to 4.22% for the second quarter of 2025 and 3.73% for the third quarter of 2024. The yield on loans for the third quarter of 2025 was 7.79%, compared to 7.95% for the second quarter of 2025 and 7.90% for the third quarter of 2024. The cost of interest-bearing deposits for the third quarter of 2025 was 3.98%, compared to 4.00% for the second quarter of 2025 and 4.75% for the third quarter of 2024.

Net interest income totaled $50.8 million for the third quarter of 2025, an increase of 3.0% from $49.4 million for the second quarter of 2025 and an increase of 25.9% from $40.4 million for the third quarter of 2024. Interest income totaled $92.5 million for the third quarter of 2025, an increase of 4.3% from $88.7 million for the second quarter of 2025 and an increase of 11.8% from $82.7 million for the third quarter of 2024. The quarter-over-quarter increase in net interest income primarily resulted from an increase in loans and the purchase of investment securities. Interest expense was $41.7 million for the third quarter of 2025, an increase of $2.4 million, or 6.0%, from $39.3 million for the second quarter of 2025 and a decrease of $682,000, or 1.6%, from $42.3 million for the third quarter of 2024, primarily resulting from an increase in interest-bearing deposits.

Noninterest Income and Noninterest Expense

Noninterest income totaled $3.6 million for the third quarter of 2025, compared to $2.7 million for the second quarter of 2025 and $2.5 million for the third quarter of 2024. The increase in noninterest income was primarily due to an increase in loan fees during the third quarter of 2025.

Noninterest expense increased to $28.9 million for the third quarter of 2025, compared to $28.8 million for the second quarter of 2025 and $25.6 million for the third quarter of 2024. The quarter-over-quarter increase in noninterest expense was primarily due to an increase in salaries and employee benefits, offset by a decrease in legal and professional expenses and a decrease in loan operations and other real estate owned expenses compared to the second quarter of 2025. At September 30, 2025, the number of employees was 398, compared to 388 at June 30, 2025.

The efficiency ratio was 53.03% for the third quarter of 2025, compared to 55.45% for the second quarter of 2025 and 59.57% for the third quarter of 2024.

Balance Sheet Highlights

Loan Portfolio and Composition

For the quarter ended September 30, 2025, gross loans increased to $4.17 billion, an increase of $85.4 million, or 2.1%, from $4.08 billion as of June 30, 2025, and an increase of $275.3 million, or 7.1%, from $3.89 billion as of September 30, 2024. Commercial and industrial loans and real estate loans accounted for the majority of the loan growth for the third quarter of 2025, offset by slight decreases in municipal and other loans from the second quarter of 2025.

Asset Quality

Nonperforming loans at September 30, 2025 were $21.7 million, compared to $20.1 million at June 30, 2025 and $24.0 million at September 30, 2024. As of September 30, 2025, the nonperforming loans to total loans ratio was 0.52%, compared to 0.49% as of June 30, 2025 and 0.62% as of September 30, 2024. The increase in nonperforming loans during the third quarter of 2025 was due to an increase in loans greater than 90 days past due and still accruing which increased by approximately $4.3 million, primarily due to four borrowers totaling approximately $3.9 million.Of the four borrowers, one totaling $1.1 million has a 75% SBA guaranty, two totaling $2.4 million are well secured and in the process of renewal, and one is a mortgage loan that is in modification. This increase was partially offset by a decline in nonaccrual loans of $2.6 million, which was primarily attributed to $2.0 million in payoffs and paydowns, the placement of a $337,000 loan placed back on accrual, and a $233,000 foreclosure.

The provision for credit loss recorded for the third quarter of 2025 was $2.8 million, and the allowance for credit losses of $42.6 million represented 1.02% of the $4.17 billion in gross loans outstanding as of September 30, 2025. The provision for credit loss recorded for the second quarter of 2025 was $2.1 million, and the allowance for credit losses of $40.0 million represented 0.98% of the $4.08 billion in gross loans outstanding as of June 30, 2025.

The Company recorded net recoveries of $17,000 and $57,000 for the three months ended September 30, 2025 and September 30, 2024, respectively.

Deposits and Composition

Deposits totaled $4.37 billion as of September 30, 2025, an increase of 2.1% from $4.28 billion as of June 30, 2025, and an increase of 9.5% from $3.99 billion as of September 30, 2024. Noninterest-bearing demand deposits increased from $441.0 million as of June 30, 2025, to $450.0 million as of September 30, 2025 and represented 10.3% of total deposits as of both September 30, 2025 and June 30, 2025. As of September 30, 2025, interest-bearing demand deposits increased $91.6 million, or 3.0%, partially offset by a decrease in time deposits of $7.8 million, or 1.0%, and a decrease in savings accounts of $919,000, or 4.0%, respectively, from June 30, 2025.

The average cost of deposits was 3.56% for the third quarter of 2025, representing a 3-basis point decrease from the second quarter of 2025 and a 62-basis point decrease from the third quarter of 2024. The decreases were due to the reduction in rates paid on interest-bearing demand deposits.

Earnings Conference Call

Third Coast has scheduled a conference call to discuss its 2025 third quarter results, which will be broadcast live over the Internet, on Thursday, October 23, 2025, at 11:00 a.m. Eastern Time / 10:00 a.m. Central Time. To participate in the call, dial 201-389-0869 and ask for the Third Coast Bancshares, Inc. call at least 10 minutes prior to the start time, or access it live over the Internet at https://ir.thirdcoast.bank/events-and-presentations/events/. For those who cannot listen to the live call, a replay will be available through October 30, 2025, and may be accessed by dialing 201-612-7415 and using passcode 13752288#. Also, an archive of the webcast will be available shortly after the call at https://ir.thirdcoast.bank/events-and-presentations/events/for 90 days.

About Third Coast Bancshares, Inc.

Third Coast Bancshares, Inc. is a commercially focused, Texas-based bank holding company operating primarily in the Greater Houston, Dallas-Fort Worth, and Austin-San Antonio markets through its wholly owned subsidiary, Third Coast Bank. Founded in 2008 in Humble, Texas, Third Coast Bank conducts banking operations through 19 branches encompassing the four largest metropolitan areas in Texas. Please visit https://www.thirdcoast.bankfor more information.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties and are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. These statements are often, but not always, made through the use of words or phrases such as “may,” “should,” “could,” “predict,” “potential,” “believe,” “looking ahead,” “will likely result,” “expect,” “continue,” “will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,” “projection,” “would” and “outlook,” or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about our industry, management's beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. There are or will be important factors that could cause our actual results to differ materially from those indicated in these forward-looking statements, including, but not limited to, the following: interest rate risk and fluctuations in interest rates; market conditions and economic trends generally and in the banking industry; our ability to maintain important deposit relationships; our ability to grow or maintain our deposit base; our ability to implement our expansion strategy; our ability to pay dividends on our Series A Preferred Stock; credit risk associated with our business; economic conditions affecting the real estate market; prepayment risks associated with commercial real estate loans; liquidity risks in the securitization market; operational risks related to the administration of securitized assets; and changes in key management personnel. For a discussion of additional factors that could cause our actual results to differ materially from those described in the forward-looking statements, please see the risk factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2024 filed with the U.S. Securities and Exchange Commission (the “SEC”), and our other filings with the SEC.

The foregoing factors should not be construed as exhaustive and should be read together with the other cautionary statements included in this press release. If one or more events related to these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may differ materially from what we anticipate. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and we do not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. New factors emerge from time to time, and it is not possible for us to predict which will arise. In addition, we cannot assess the impact of each factor on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

Non-GAAP Financial Measures

This press release contains certain non-GAAP financial measures, including Tangible Common Equity, Tangible Book Value Per Share, Tangible Common Equity to Tangible Assets and Return on Average Tangible Common Equity, which are supplemental measures that are not required by, or are not presented in accordance with GAAP. Please refer to the table titled “GAAP Reconciliation and Management's Explanation of Non-GAAP Financial Measures” at the end of this press release for a reconciliation of these non-GAAP financial measures.

Third Coast Bancshares, Inc. and SubsidiaryFinancial Highlights(unaudited) 2025 2024(Dollars in thousands) September 30 June 30 March 31 December 31 September 30ASSETSCash and cash equivalents:Cash and due from banks $ 116,383 $ 113,141 $ 218,990 $ 371,157 $ 258,191Federal funds sold 6,629 5,815 110,379 50,045 12,265Total cash and cash equivalents 123,012 118,956 329,369 421,202 270,456Interest bearing time deposits in other banks 265 262 359 356 353Investment securities available-for-sale 376,719 355,753 397,442 384,025 292,104Investment securities held to maturity 206,037 206,065 – – -Loans held for investment 4,165,116 4,079,736 3,988,039 3,966,425 3,889,831Less: allowance for credit losses (42,563) (40,035) (40,456) (40,304) (39,683)Loans held for investment, net 4,122,553 4,039,701 3,947,583 3,926,121 3,850,148Accrued interest receivable 29,537 27,736 26,752 25,820 26,111Premises and equipment, net 24,718 24,908 25,669 26,230 26,696Bank-owned life insurance 75,547 74,761 74,018 68,341 67,679Non-marketable securities, at cost 26,157 18,761 15,994 15,980 24,328Deferred tax asset, net 6,989 8,646 9,176 11,445 8,654Derivative assets 2,803 3,059 3,052 6,479 5,786Right-of-use assets – operating leases 17,677 18,769 19,370 19,863 20,397Goodwill and other intangible assets 18,720 18,761 18,801 18,841 18,882Other assets 31,074 27,633 29,404 17,743 16,176Total assets $ 5,061,808 $ 4,943,771 $ 4,896,989 $ 4,942,446 $ 4,627,770LIABILITIESDeposits:Noninterest bearing $ 450,013 $ 440,964 $ 448,542 $ 602,082 $ 489,822Interest bearing 3,922,728 3,839,905 3,800,001 3,708,416 3,504,616Total deposits 4,372,741 4,280,869 4,248,543 4,310,498 3,994,438Accrued interest payable 7,153 6,691 7,044 6,281 7,283Derivative liabilities 3,521 3,779 3,527 8,660 6,874Lease liability – operating leases 18,735 19,835 20,425 20,900 21,412Other liabilities 32,040 24,745 25,979 23,754 34,632Line of credit – Senior Debt 32,875 30,875 30,875 30,875 31,875Note payable – Subordinated Debentures, net 80,913 80,862 80,810 80,759 80,708Total liabilities 4,547,978 4,447,656 4,417,203 4,481,727 4,177,222SHAREHOLDERS' EQUITYSeries A Convertible Non-Cumulative Preferred Stock 69 69 69 69 69Series B Convertible Perpetual Preferred Stock – – – – -Common stock 13,958 13,930 13,904 13,848 13,746Common stock – non-voting – – – – -Additional paid-in capital 323,491 322,972 322,456 321,696 320,871Retained earnings 166,537 149,677 134,115 121,697 109,160Accumulated other comprehensive income 10,874 10,566 10,341 4,508 7,801Treasury stock, at cost (1,099) (1,099) (1,099) (1,099) (1,099)Total shareholders' equity 513,830 496,115 479,786 460,719 450,548Total liabilities and shareholders' equity $ 5,061,808 $ 4,943,771 $ 4,896,989 $ 4,942,446 $ 4,627,770Third Coast Bancshares, Inc. and SubsidiaryFinancial Highlights(unaudited) Three Months Ended Nine Months Ended 2025 2024 2025 2024(Dollars in thousands, except per share data) September June 30 March 31 December September September September 30 31 30 30 30INTEREST INCOME:Loans, including fees $ 82,054 $ 79,706 $ 73,087 $ 76,017 $ 75,468 $ 234,847 $ 219,242Investment securities available-for-sale 6,289 5,505 5,693 4,939 4,532 17,487 12,116Investment securities held-to-maturity 2,882 1,607 – – – 4,489 -Federal funds sold and other 1,278 1,844 1,986 4,580 2,719 5,108 11,462Total interest income 92,503 88,662 80,766 85,536 82,719 261,931 242,820INTEREST EXPENSE:Deposit accounts 39,030 37,535 36,226 40,233 40,407 112,791 119,515FHLB advances and other borrowings 2,624 1,753 1,743 1,865 1,929 6,120 5,985Total interest expense 41,654 39,288 37,969 42,098 42,336 118,911 125,500Net interest income 50,849 49,374 42,797 43,438 40,383 143,020 117,320Provision for credit losses 2,763 2,130 450 1,156 1,085 5,343 4,545Net interest income after credit loss expense 48,086 47,244 42,347 42,282 39,298 137,677 112,775NONINTEREST INCOME:Service charges and fees 2,839 2,125 2,277 1,772 2,143 7,241 5,163Earnings on bank-owned life insurance 786 743 677 662 649 2,206 1,818(Loss) gain on sale of investment securities – (110) (228) 196 (480) (338) (200)available-for-saleGain on sale of SBA loans – 44 30 – – 74 30Other 10 (152) 351 243 205 209 937Total noninterest income 3,635 2,650 3,107 2,873 2,517 9,392 7,748NONINTEREST EXPENSE:Salaries and employee benefits 19,560 18,179 18,341 17,018 15,679 56,080 48,098Occupancy and equipment expense 2,861 2,783 2,834 2,856 2,817 8,478 9,420Legal and professional 1,254 1,927 1,431 1,587 1,037 4,612 4,043Data processing and network expense 1,203 1,162 1,120 1,182 1,608 3,485 4,072Regulatory assessments 1,152 1,203 1,306 1,196 1,249 3,661 3,234Advertising and marketing 499 503 409 526 420 1,411 1,181Software purchases and maintenance 1,094 1,149 1,259 1,202 1,266 3,502 2,499Loan operations and other real estate owned 29 439 269 189 227 737 715expenseTelephone and communications 134 115 175 144 166 424 441Other 1,106 1,386 964 1,330 1,085 3,456 3,394Total noninterest expense 28,892 28,846 28,108 27,230 25,554 85,846 77,097NET INCOME BEFORE INCOME TAX 22,829 21,048 17,346 17,925 16,261 61,223 43,426EXPENSEIncome tax expense 4,772 4,301 3,757 4,192 3,486 12,830 9,488NET INCOME 18,057 16,747 13,589 13,733 12,775 48,393 33,938Preferred stock dividends declared 1,197 1,185 1,171 1,196 1,198 3,553 3,553NET INCOME AVAILABLE TO COMMON $ 16,860 $ 15,562 $ 12,418 $ 12,537 $ 11,577 $ 44,840 $ 30,385SHAREHOLDERSEARNINGS PER COMMON SHARE:Basic earnings per share $ 1.22 $ 1.12 $ 0.90 $ 0.92 $ 0.85 $ 3.24 $ 2.23Diluted earnings per share $ 1.03 $ 0.96 $ 0.78 $ 0.79 $ 0.74 $ 2.77 $ 1.99Third Coast Bancshares, Inc. and SubsidiaryFinancial Highlights(unaudited) Three Months Ended Nine Months Ended 2025 2024 2025 2024(Dollars in thousands, except share and September June 30 March 31 December September September Septemberper share data) 30 31 30 30 30Earnings per share, basic $ 1.22 $ 1.12 $ 0.90 $ 0.92 $ 0.85 $ 3.24 $ 2.23Earnings per share, diluted $ 1.03 $ 0.96 $ 0.78 $ 0.79 $ 0.74 $ 2.77 $ 1.99Dividends on common stock $ – $ – $ – $ – $ – $ – $ -Dividends on Series A Convertible $ 17.25 $ 17.06 $ 16.88 $ 17.25 $ 17.25 $ 51.19 $ 51.19Non-Cumulative Preferred StockReturn on average assets (A) 1.41 % 1.38 % 1.17 % 1.13 % 1.14 % 1.32 % 1.02 %Return on average common equity (A) 15.14 % 14.70 % 12.41 % 12.66 % 12.12 % 14.13 % 11.05 %Return on average tangible common 15.81 % 15.38 % 13.01 % 13.29 % 12.76 % 14.79 % 11.65 %equity (A) (B)Net interest margin (A) (C) 4.10 % 4.22 % 3.80 % 3.71 % 3.73 % 4.05 % 3.65 %Efficiency ratio (D) 53.03 % 55.45 % 61.23 % 58.80 % 59.57 % 56.32 % 61.64 %Capital RatiosThird Coast Bancshares, Inc. (consolidated):Total common equity to total assets 8.84 % 8.70 % 8.45 % 7.98 % 8.31 % 8.84 % 8.31 %Tangible common equity to tangible 8.51 % 8.35 % 8.09 % 7.63 % 7.93 % 8.51 % 7.93 %assets (B)Estimated Common equity tier 1 (to risk 8.85 % 8.75 % 8.70 % 8.41 % 8.38 % 8.85 % 8.38 %weighted assets)Estimated Tier 1 capital (to risk weighted 10.25 % 10.20 % 10.19 % 9.90 % 9.93 % 10.25 % 9.93 %assets)Estimated Total capital (to risk weighted 12.90 % 12.87 % 12.97 % 12.68 % 12.80 % 12.90 % 12.80 %assets)Estimated Tier 1 capital (to average 9.55 % 9.65 % 9.58 % 9.12 % 9.53 % 9.55 % 9.53 %assets)Third Coast Bank:Estimated Common equity tier 1 (to risk 12.59 % 12.56 % 12.69 % 12.35 % 12.45 % 12.59 % 12.45 %weighted assets)Estimated Tier 1 capital (to risk weighted 12.59 % 12.56 % 12.69 % 12.35 % 12.45 % 12.59 % 12.45 %assets)Estimated Total capital (to risk weighted 13.53 % 13.46 % 13.63 % 13.29 % 13.42 % 13.53 % 13.42 %assets)Estimated Tier 1 capital (to average 11.75 % 11.89 % 11.93 % 11.37 % 11.95 % 11.75 % 11.95 %assets)Other DataWeighted average shares:Basic 13,860,149 13,836,830 13,776,998 13,698,010 13,665,400 13,824,963 13,643,042Diluted 17,524,288 17,391,128 17,440,826 17,394,884 17,184,991 17,452,385 17,046,640Period end shares outstanding 13,879,099 13,851,581 13,825,286 13,769,780 13,667,591 13,879,099 13,667,591Book value per share $ 32.25 $ 31.04 $ 29.92 $ 28.65 $ 28.13 $ 32.25 $ 28.13Tangible book value per share (B) $ 30.91 $ 29.69 $ 28.56 $ 27.29 $ 26.75 $ 30.91 $ 26.75(A) Interim periods annualized.(B) Refer to the calculation of these non-GAAP financial measures and a reconciliation to their most directly comparable GAAP financial measures at the end of this news release.(C) Net interest margin represents net interest income divided by average interest-earning assets.(D) Represents total noninterest expense divided by the sum of net interest income plus noninterest income. Taxes and provision for credit losses are not part of this calculation.Third Coast Bancshares, Inc. and SubsidiaryFinancial Highlights(unaudited) Three Months Ended September 30, 2025 June 30, 2025 September 30, 2024(Dollars in thousands) Average Interest Average Average Interest Average Average Interest Average Outstanding Earned/ Yield/ Outstanding Earned/ Yield/ Outstanding Earned/ Yield/ Balance Paid(3) Rate(4) Balance Paid(3) Rate(4) Balance Paid(3) Rate(4)AssetsInterest-earnings assets:Loans, gross $ 4,179,027 $ 82,054 7.79% $ 4,020,771 $ 79,706 7.95% $ 3,801,954 $ 75,468 7.90%Investment securities available-for-sale 410,073 6,289 6.08% 382,439 5,505 5.77% 300,969 4,532 5.99%Investment securities held-to-maturity 206,055 2,882 5.55% 117,407 1,607 5.49% – – -Federal funds sold and other 123,680 1,278 4.10% 169,943 1,844 4.35% 209,841 2,719 5.15%interest-earning assetsTotal interest-earning assets 4,918,835 92,503 7.46% 4,690,560 88,662 7.58% 4,312,764 82,719 7.63%Less: allowance for loan losses (40,427) (40,631) (38,425)Total interest-earning assets, net of 4,878,408 4,649,929 4,274,339allowanceNoninterest-earning assets 213,210 210,170 195,681Total assets $ 5,091,618 $ 4,860,099 $ 4,470,020Liabilities and Shareholders' EquityInterest-bearing liabilities:Interest-bearing deposits $ 3,892,726 $ 39,030 3.98% $ 3,766,801 $ 37,535 4.00% $ 3,383,897 $ 40,407 4.75%Note payable and line of credit 113,560 1,754 6.13% 111,712 1,719 6.17% 113,536 1,853 6.49%FHLB advances 73,476 870 4.70% 2,916 34 4.68% 5,757 76 5.25%Total interest-bearing liabilities 4,079,762 41,654 4.05% 3,881,429 39,288 4.06% 3,503,190 42,336 4.81%Noninterest-bearing deposits 453,980 431,144 457,451Other liabilities 49,842 56,785 63,255Total liabilities 4,583,584 4,369,358 4,023,896Shareholders' equity 508,034 490,741 446,124Total liabilities and shareholders' $ 5,091,618 $ 4,860,099 $ 4,470,020equityNet interest income $ 50,849 $ 49,374 $ 40,383Net interest spread (1) 3.41% 3.52% 2.82%Net interest margin (2) 4.10% 4.22% 3.73%(1) Net interest spread is the average yield on interest earning assets minus the average rate on interest-bearing liabilities.(2) Net interest margin represents net interest income divided by average interest-earning assets.(3) Interest earned/paid includes accretion of deferred loan fees, premiums and discounts.(4) Annualized.Third Coast Bancshares, Inc. and SubsidiaryFinancial Highlights(unaudited) Nine Months Ended September 30, 2025 September 30, 2024(Dollars in thousands) Average Interest Average Average Interest Average Outstanding Earned/ Yield/ Outstanding Earned/ Yield/ Balance Paid(3) Rate(4) Balance Paid(3) Rate(4)AssetsInterest-earnings assets:Loans, gross $ 4,060,615 $ 234,847 7.73% $ 3,736,200 $ 219,242 7.84%Investment securities available-for-sale 396,919 17,487 5.89% 267,091 12,116 6.06%Investment securities held-to-maturity 108,575 4,489 5.53% – – -Federal funds sold and other interest-earning 159,941 5,108 4.27% 290,011 11,462 5.28%assetsTotal interest-earning assets 4,726,050 261,931 7.41% 4,293,302 242,820 7.55%Less: allowance for loan losses (40,550) (38,045)Total interest-earning assets, net of allowance 4,685,500 4,255,257Noninterest-earning assets 207,355 194,650Total assets $ 4,892,855 $ 4,449,907Liabilities and Shareholders' EquityInterest-bearing liabilities:Interest-bearing deposits $ 3,771,393 $ 112,791 4.00% $ 3,380,790 $ 119,515 4.72%Note payable and line of credit 112,318 5,186 6.17% 118,547 5,909 6.66%FHLB advances and other 26,574 934 4.70% 1,933 76 5.25%Total interest-bearing liabilities 3,910,285 118,911 4.07% 3,501,270 125,500 4.79%Noninterest-bearing deposits 436,412 452,411Other liabilities 55,754 62,753Total liabilities 4,402,451 4,016,434Shareholders' equity 490,404 433,473Total liabilities and shareholders' equity $ 4,892,855 $ 4,449,907Net interest income $ 143,020 $ 117,320Net interest spread (1) 3.34% 2.76%Net interest margin (2) 4.05% 3.65%(1) Net interest spread is the average yield on interest earning assets minus the average rate on interest-bearing liabilities.(2) Net interest margin represents net interest income divided by average interest-earning assets.(3) Interest earned/paid includes accretion of deferred loan fees, premiums and discounts.(4) Annualized.Third Coast Bancshares, Inc. and SubsidiaryFinancial Highlights(unaudited) Three Months Ended 2025 2024(Dollars in thousands) September 30 June 30 March 31 December 31 September 30Period-end Loan Portfolio:Real estate loans:Commercial real estate:Non-farm non-residential owner occupied $ 408,996 $ 423,959 $ 420,902 $ 448,134 $ 470,222Non-farm non-residential non-owner occupied 687,924 666,840 633,227 652,119 611,617Residential 334,583 323,898 335,285 336,736 339,558Construction, development & other 826,566 784,364 846,166 871,373 825,302Farmland 25,549 28,013 30,783 30,915 35,650Commercial & industrial 1,772,045 1,724,583 1,605,243 1,497,408 1,499,302Consumer 1,291 1,206 1,443 1,859 2,002Municipal and other 108,162 126,873 114,990 127,881 106,178Total loans $ 4,165,116 $ 4,079,736 $ 3,988,039 $ 3,966,425 $ 3,889,831Asset Quality:Nonaccrual loans $ 10,723 $ 13,358 $ 17,066 $ 26,773 $ 23,522Loans > 90 days and still accruing 11,016 6,755 1,503 1,173 522Total nonperforming loans 21,739 20,113 18,569 27,946 24,044Other real estate owned 8,388 8,580 8,752 862 283Total nonperforming assets $ 30,127 $ 28,693 $ 27,321 $ 28,808 $ 24,327QTD Net (recoveries) charge-offs $ (17) $ 2,376 $ 398 $ 879 $ (57)Nonaccrual loans:Real estate loans:Commercial real estate:Non-farm non-residential owner occupied $ 1,237 $ 2,191 $ 3,100 $ 10,433 $ 9,696Non-farm non-residential non-owner occupied 111 111 – – 68Residential 214 637 2,616 2,226 2,664Construction, development & other 6 344 358 400 1Commercial & industrial 9,155 10,075 10,992 13,714 11,093Total nonaccrual loans $ 10,723 $ 13,358 $ 17,066 $ 26,773 $ 23,522Asset Quality Ratios:Nonperforming assets to total assets 0.60 % 0.58 % 0.56 % 0.58 % 0.53 %Nonperforming loans to total loans 0.52 % 0.49 % 0.47 % 0.70 % 0.62 %Allowance for credit losses to total loans 1.02 % 0.98 % 1.01 % 1.02 % 1.02 %QTD Net (recoveries) charge-offs to average loans (0.00) % 0.24 % 0.04 % 0.09 % (0.01) %(annualized)

Third Coast Bancshares, Inc. and Subsidiary GAAP Reconciliation and Management's Explanation of Non-GAAP Financial Measures (unaudited)

Our accounting and reporting policies conform to GAAP (generally accepted accounting principles) and the prevailing practices in the banking industry. However, we also evaluate our performance based on certain additional financial measures discussed in this earnings release as being non-GAAP financial measures. Specifically, we review Tangible Common Equity, Tangible Book Value Per Share, Tangible Common Equity to Tangible Assets, and Return on Average Tangible Common Equity for internal planning and forecasting purposes. We classify a financial measure as a non-GAAP financial measure if that financial measure excludes or includes amounts, or is subject to adjustments that have the effect of excluding or including amounts, that are not included or excluded, as the case may be, in the most directly comparable measure calculated and presented in accordance with GAAP as in effect from time to time in the United States in our statements of income, balance sheets or statements of cash flows. Non-GAAP financial measures do not include operating and other statistical measures or ratios, or statistical measures calculated using exclusively financial measures calculated in accordance with GAAP.

The non-GAAP financial measures that we discuss in this earnings release should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Moreover, the manner in which we calculate the non-GAAP financial measures that we discuss in this earnings release may differ from that of other companies reporting measures with similar names. It is important to understand how other banking organizations calculate their financial measures with names similar to the non-GAAP financial measures we have discussed in this earnings release when comparing such non-GAAP financial measures.

Management believes the following non-GAAP financial measures assist investors in understanding the financial condition of the company:

— Tangible Common Equity. The most directly comparable GAAP financial measure for tangible common equity is total shareholders' equity. We believe that this measure is important to many investors in the marketplace who are interested in the relative changes from period to period of tangible common equity.

— Tangible Book Value Per Share. The most directly comparable GAAP financial measure for tangible book value per share is book value per share. We believe that the tangible book value per share measure is important to many investors in the marketplace who are interested in changes from period to period in book value per share exclusive of changes in intangible assets. Goodwill and other intangible assets have the effect of increasing total book value while not increasing our tangible book value.

— Tangible Common Equity to Tangible Assets. The most directly comparable GAAP financial measure for tangible common equity is total shareholders' equity, the most directly comparable GAAP financial measure for tangible assets is total assets, and the most directly comparable GAAP financial measure for tangible common equity to tangible assets is total shareholders' equity to total assets. We believe that this measure is important to many investors in the marketplace who are interested in the relative changes from period to period of tangible common equity to tangible assets, each exclusive of changes in intangible assets. Goodwill and other intangible assets have the effect of increasing both total shareholders' equity and assets while not increasing our tangible common equity or tangible assets.

— Return on Average Tangible Common Equity. The most directly comparable GAAP financial measure for average tangible common equity is average shareholders' equity, and the most directly comparable GAAP financial measure for return on average tangible common equity is return on average common equity. We believe that this measure is important to many investors in the marketplace who are interested in the relative changes from period to period of return on average tangible common equity, exclusive of changes in intangible assets. Goodwill and other intangible assets have the effect of increasing average shareholders' equity while not increasing our tangible common equity.

The calculations of these non-GAAP financial measures are as follows:

Three Months Ended Nine Months Ended 2025 2024 2025 2024(Dollars in thousands, except share and per September June 30 March 31 December September September Septembershare data) 30 31 30 30 30Tangible Common Equity:Total shareholders' equity $ 513,830 $ 496,115 $ 479,786 $ 460,719 $ 450,548 $ 513,830 $ 450,548Less: Preferred stock including additional 66,160 66,160 66,160 66,160 66,117 66,160 66,117paid in capitalTotal common equity 447,670 429,955 413,626 394,559 384,431 447,670 384,431Less: Goodwill and core deposit intangibles, 18,720 18,761 18,801 18,841 18,882 18,720 18,882netTangible common equity $ 428,950 $ 411,194 $ 394,825 $ 375,718 $ 365,549 $ 428,950 $ 365,549Common shares outstanding at end of period 13,879,099 13,851,581 13,825,286 13,769,780 13,667,591 13,879,099 13,667,591Book Value Per Share $ 32.25 $ 31.04 $ 29.92 $ 28.65 $ 28.13 $ 32.25 $ 28.13Tangible Book Value Per Share $ 30.91 $ 29.69 $ 28.56 $ 27.29 $ 26.75 $ 30.91 $ 26.75Tangible Assets:Total assets $ 5,061,808 $ 4,943,771 $ 4,896,989 $ 4,942,446 $ 4,627,770 $ 5,061,808 $ 4,627,770Adjustments: Goodwill and core deposit 18,720 18,761 18,801 18,841 18,882 18,720 18,882intangibles, netTangible assets $ 5,043,088 $ 4,925,010 $ 4,878,188 $ 4,923,605 $ 4,608,888 $ 5,043,088 $ 4,608,888Total Common Equity to Total Assets 8.84 % 8.70 % 8.45 % 7.98 % 8.31 % 8.84 % 8.31 %Tangible Common Equity to Tangible Assets 8.51 % 8.35 % 8.09 % 7.63 % 7.93 % 8.51 % 7.93 %Average Tangible Common Equity:Average shareholders' equity $ 508,034 $ 490,741 $ 472,041 $ 460,169 $ 446,124 $ 490,404 $ 433,473Less: Average preferred stock including 66,160 66,160 66,160 66,121 66,223 66,160 66,224additional paid in capitalAverage common equity 441,874 424,581 405,881 394,048 379,901 424,244 367,249Less: Average goodwill and core deposit 18,746 18,784 18,826 18,865 18,906 18,785 18,946intangibles, netAverage tangible common equity $ 423,128 $ 405,797 $ 387,055 $ 375,183 $ 360,995 $ 405,459 $ 348,303Net Income $ 18,057 $ 16,747 $ 13,589 $ 13,733 $ 12,775 $ 48,393 $ 33,938Less: Dividends declared on preferred stock 1,197 1,185 1,171 1,196 1,198 3,553 3,553Net Income Available to Common Shareholders $ 16,860 $ 15,562 $ 12,418 $ 12,537 $ 11,577 $ 44,840 $ 30,385Return on Average Common Equity(A) 15.14 % 14.70 % 12.41 % 12.66 % 12.12 % 14.13 % 11.05 %Return on Average Tangible Common Equity(A) 15.81 % 15.38 % 13.01 % 13.29 % 12.76 % 14.79 % 11.65 %(A) Interim periods annualized.

Contact:Ken Dennard / Natalie HairstonDennard Lascar Investor Relations(713) 529-6600TCBX@dennardlascar.com

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